Branching out: Heritage Bank bucks digital trend with Sydney expansion

Ceyda Erem

23 Jul 2019

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For many Aussies, stepping away from the norm proves to be a tad difficult from time to time. But it looks like Queensland-based mutual bank, Heritage Bank has no problem defying trends. 

The mutual bank has announced plans to open two new branches in Sydney later this year - one in Castle Towers in October and the other in Parramatta in December. 

This is the bank’s first move out of its home state and, when you consider the growing number of Aussies who are all for contactless payments, it’s also a move that’s going against the industry. 

“We’re excited to be bucking the industry trend by opening new branches. I firmly believe that talk about the imminent demise of physical branches is exaggerated,” said CEO, Peter Lock. 

“People still want to come into a branch and talk face-to-face with an expert about the biggest financial commitments they will make in their lives, so branches will be around for many years to come.” 

Nearly two years ago, Mozo reported on the number of big banks shutting branches across the country, with Westpac at the time closing over 60 branches, a subtle nod to an increasing digital banking uptake. 

But according to Lock, the decision to launch two branches in Sydney simply came down to putting customers first. 

“We know it’s a huge challenge, given the size of the big banks and the competitiveness of the Sydney market. But we firmly believe that the people-first focus Heritage offers will be attractive to people looking for an alternative to the profit driven banks they’ve been dealing with,” he said. 

Heritage Bank’s commitment to customers 

Adopting a “people-first” approach is no new focus for Heritage Bank, as they were recently awarded a whopping five 2019 Mozo People’s Choice Awards - awards in which winners are selected by everyday Aussies, not our expert judges.  

Excellent customer service, highly trusted and staff friendliness were just some of the categories the mutual bank won for. 

Heritage Bank are no strangers to the Mozo People’s Choice Awards either, winning at least one award every year since 2012

“It’s one thing to win over the hearts of real Aussie customers with trustworthy, friendly bank staff and customer service, but for Heritage Bank to do it consistently for a number of years - that’s impressive,” said Mozo Data Services Director AJ Duncanson.

If you’ve been thinking about becoming a Heritage Bank customer, all great banking begins with a bank account, so head on over to our bank account comparison tool to find out how the Heritage Bank bank account compares to others in the market. 

Or if you’d like to learn more about Heritage Bank’s epic award wins, head on over to the Mozo People’s Choice Award winners list page. 

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