Following the merger of Heritage Bank and People’s Choice Credit Union in March 2023,
we have been working to align our products, services and technology under our new
People First Bank brand.
As a result, effective 1st September 2025, Heritage Bank will no longer accept
new loan applications from brokers.
While we continue to value the partnership we have built, we believe this step is
necessary to ensure alignment with our long-term business objectives. Existing Heritage
Bank customers with current lending can still apply for top-ups through their broker
to Heritage Bank.
Please note that this change applies solely to new business submitted
from brokers within your network. We remain committed to:
We are no longer accepting new accreditations with Heritage Bank.
We appreciate your ongoing support to date.
* REFINANCES - see below
These service levels are for existing Heritage Bank customer applications only.
N.B. Uploaded documents received after 5pm AEST will not be counted as received until the following business day.
| Assessment time frames | Current Service Level |
| Commence assessment (once supporting documents uploaded successfully in AOL) - PURCHASES | 4 business days |
| Commence assessment (once supporting documents uploaded successfully in AOL) - REFINANCES* | 7 business days |
| Returned documents received to formal approval - PURCHASES | 3 business days |
|
Returned documents received to formal approval - REFINANCES* |
3 business days |
| Post approval time frames | Current Service Level |
| Preparation of Loan offer documents (emailed or mailed directly to the client, as per the application form, following Formal Approval) | 4 business days |
| Returned documents reviewed, certified and accepted (we will prioritise certification based on settlement date for purchases) | 2 business days |
| Settlement scheduled and/or completed (following receipt and acceptance of correctly executed documentation) | 2 business days |
* REFINANCES include top-ups/equity cash out that are not linked to a purchase application.
* Generally, REFINANCES will not be considered for escalations if they do fall outside of SLA, however if there is a time critical element, you will need to refer to your BSM.