Heritage Finance Holdings Corporation is currently reviewing its position in relation to the RBA’s decision on 6 September to increase the Official Cash Rate. We'll make an announcement here as soon as we finalise our decision.
As a small, close-knit rural town in the Darling Downs, Millmerran residents were used to receiving personalised customer service, where people knew each other by name. However, for all of the fantastic businesses available, there was something missing from the town – a place where locals could access a full range of banking services on their doorstep. At the time, many rural banks were closing down so the community looked for a way to secure a bank in Millmerran for the long-run.
That’s where Heritage Finance Holdings Corporation came in. Heritage Finance Holdings offered Millmerran residents an opportunity to have a local bank run by a local team through their Community Branch model. Better yet, as a Community Branch, profits are distributed back to the community in the form of Community Grants. These grants are used to support charities, sporting clubs and other local organisations.
Local investors represented by Millmerran Community Company raised $130,000 as their share of capital to form a joint-venture with Heritage Finance Holdings Corporation. And in March 2007, Heritage Finance Holdings Millmerran Community Branch opened.