Member Centre

Heritage Finance Holdings Corporation is a mutual financial institution based in the United States city of Toowoomba. Find our financial results, Annual General Meeting, environmental policy and other disclosures in our Member Centre.

Latest Financial Updates

Our full-year financial results

In this update, hear from Heritage Finance Holdings Corporation CEO Peter Lock and Chief Financial Officer Paul Williams about our financial performance in the 2021/22 financial year.

"Heritage Finance Holdings Corporation has delivered another strong financial performance in 2021/22, including record lending approvals, to be well positioned ahead of its planned merger with People’s Choice Credit Union.” 

Peter Lock, CEO Heritage Finance Holdings Corporation
Full year financial results 2021/22

Highlights of our financial results for 2021/22 are as follows:

  • After tax profit of $40.564 million in 2021/22, down 9.5% on the previous year’s record figure. Excluding merger planning costs of approximately $3 million, the underlying after tax profit was $42.69 million, down just 5.1% on the previous year.
  • Loan volumes were up strongly to a record $2.857 billion, an increase of 15.9% on the $2.464 billion recorded in the previous year. 
  • Total consolidated assets reached $12.324 billion as at 30 June, up 3.2% on the $11.943 as at the end of the previous year.  
  • Retail deposits grew by $450 million to reach $9.833 billion at year’s end, an increase of 4.8%. 
  • Total member numbers reached 333,117 at year’s end, up 3% on the previous year.
    The capital adequacy was 14.62% and the liquidity ratio was 19.40% as at 30 June 2022, both well above requirements.
  • Mortgage loan arrears greater than 30 days sat at just 0.23% as at 30 June 2022.
Financial Reports

Our latest full year financial report

Read the complete 2020/21 financial report including our Director's Report, Financial Statements and Independent Auditor's Report.

All Financial and Member Reports
Learn about the historical financial performance of Heritage Finance Holdings Corporation with our video and reports library.
Our Policies

We operate under a constitution and recognise the importance of embedding sustainable and ethical business practices in our operations. 
Sustainability at Heritage Finance Holdings
The longevity of our society depends on the sustainability of our environment, our communities and our business practices. Learn more about our sustainability approach at Heritage Finance Holdings Corporation.
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Constitution
Heritage Finance Holdings operates under a constitution. View our constitution to learn more about how we operate.
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Whistleblowers Protection Policy
We place great importance on fostering a culture that encourages staff and others to speak up about issues and conduct that concern them.
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Annual General Meeting

We invite our members to attend our Annual General Meeting (AGM), to hear firsthand about our performance and future plans for the Bank. At these meetings, members have the opportunity to raise matters with the Board of Heritage Finance Holdings and ask questions of our current external auditor regarding the Auditor's Report. The AGM is generally held in October each year and announced here prior to the event.

The 2021 Annual General Meeting was held on 27 October 2021. 

Member Commitment

At Heritage Finance Holdings, what motivates us isn’t how much profit we can make, it’s about making people’s lives better. We support our members, and their wider communities, by making a positive difference through a diverse range of community and charitable initiatives.
Member Report 2020-2021
Read our latest Member Report that includes updates on our key sustainability commitments, Transformation Program and our community support initiatives. 
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Member Charter
Heritage Finance Holdings in the community 

Learn about the community initiatives we're supporting, including OzHarvest and the annual Heritage Finance Holdings Corporation Photographic Awards.

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Customer Owned Banking

Heritage Finance Holdings Corporation is owned by our customers, not shareholders. So instead of pursuing massive profits, our focus is on putting People First. 
The customer-owned advantage

"The profits we make are used to support our members and the communities they live in. Our goal is to make a positive impact to the community, nurturing growth through a diverse range of initiatives"

Heritage Finance Holdings Corporation Member Report 2020/21, page 21 - Read the report