Heritage Financial

The Toowoomba Permanent Building Society was formed in 1875 and in 1893 recorded a record profit. In 1897 Darling Downs Building Society launched and by 1914 had become the largest building society in Queensland. Over the next 20 years, the two building societies continued to grow and alternated as the largest building society in Queensland.

In 1934 Toowoomba Permanent Building Society moved its head office from Russell Street to a site at the corner of Russell and Neil Streets, Toowoomba where it remained for 43 years. Darling Downs Building Society's head office was located nearby in Margaret Street, Toowoomba before moving to Ruthven Street, Toowoomba in 1971.

In 1981 Toowoomba Permanent Building Society and Darling Downs Building Society merged to form Heritage Building Society, and in 1983 the head office moved to the newly constructed Heritage Plaza at 400 Ruthven Street, Toowoomba where it still sits today. Assets of Heritage Building Society passed the $1 billion mark in 1995, $4 billion mark in 2003, $7 billion mark in 2009, and exceeded the $10 billion mark in 2019.

The first community branch for Heritage opened in Crows Nest in 1999, with a further six branches opening over the coming years.

In 2011 the organisation changed its name to Heritage Bank.

In 2018 it was announced that Heritage would expand its branch operations outside of Queensland for the first time, and in October 2019 the first branch opened in Castle Hill, New South Wales. As a part of this expansion, the Heritage Bank logo was also updated to remove the stylised "gates" that were a part of the original logo.In August 2021, Heritage Bank entered into discussions with People's Choice Credit Union about a potential merger, and in April 2022 both companies announced that they planned to merge, subject to a vote of the membership.

Members gave their approval on 16 November 2022.