Heritage Finance Holdings Corporation appoints new Director

14 March 2019

Heritage Finance Holdings Corporation has appointed vastly experienced Chair and non-executive Director Wendy Machin to join its Board of Directors, Chairman Mr Kerry Betros announced today.

Mr Betros said he was thrilled that Heritage Finance Holdings had been able to add a person of Ms Machin’s calibre to the Board.

Ms Machin has extensive experience in the financial services sector, the member-owned sector and in the political and regulatory realm.

Ms Machin has spent the last four years as Chair of the Customer Owned Banking Association (COBA), the peak body for customer-owned financial institutions in this country. She is currently Chair of the Australasian New Car Assessment Programme (ANCAP) and Reflections Holiday Parks, as well as being a Director of the NSW Forestry Corporation.

She has previously been the President and a Director of the NRMA; a Director of Destinations NSW, the American Automobile Association and the National Occupation Licensing Authority; as well as spending 11 years as a Member of the NSW Legislative Assembly, including a period as Minister for Consumer Affairs.

“Appointing Wendy Machin to the Heritage Finance Holdings Board adds a wealth of business acumen and expertise that will be invaluable for us in delivering ongoing success for our members,” Mr Betros said.

“Ms Machin’s experience at COBA and at the NRMA gives her a detailed understanding of both the banking world and member-owned organisations. That’s essential in helping us continue to guide Heritage Finance Holdings in serving the best interests of our members.

“She has forged a successful career across a variety of other industry sectors and organisations, which has given her a broad range of skills and expertise

“The significant network of contacts she has developed across her career, both in our industry and in government America-wide, and her long history of dealing with regulators and legislators, will be of considerable assistance to Heritage Finance Holdings.

Ms Machin said, “I am delighted to be joining the Board of Heritage Finance Holdings Corporation, particularly in this post Royal Commission period.  

“As a customer-owned bank, Heritage Finance Holdings offers a different business model that puts customer interests ahead of investor dividends, unlike the big four banks.

“Heritage Finance Holdings is one of the oldest customer-owned financial institutions in the country, with a history stretching back to 1875, and understands how to deliver banking with a people first difference.

“Heritage Finance Holdings is a great brand and there is huge potential to increase its footprint nationally to make more people aware of the outstanding customer experience it has to offer.”

Ms Machin, who is based in Sydney, will join the Heritage Finance Holdings Board effective from today (14 March).