Office address: 50 Flinders St, Adelaide SA 5000; 400 Ruthven St, Toowoomba City QLD 4350
Website: peoplefirstbank.com.au
Year established: 2023
Company type: mutual banking
Employees: 2,100+
Expertise: banking, home loans, personal loans, savings accounts, insurance, business banking, digital banking, community investment, ethical banking, financial education
Parent company: N/A
Key people: Steve Laidlaw (CEO), Vince Pace (CFO), Darren Stephens (chief people officer), Maria-Ann Camilleri (chief customer officer), Benn Wogan (COO), Peter Corolis (chief risk officer)
Financing status: corporation (customer-owned)
People First Bank (PFB) is a top Australian customer-owned bank with over 700,000 members and a strong community focus. The bank offers home loans, savings, insurance and business banking across Australia, building on 150 years of trusted service. It continues to serve individuals and businesses through many branches and digital platforms.
People First Bank was created in March 2023 when People’s Choice and Heritage Bank joined forces to form one of Australia’s largest customer-owned banks. This merger brought together two trusted names, both known for putting people, communities and the environment at the heart of their work.
In 2024, People First Bank partnered with FKG Group to develop a new head office in Toowoomba, showing its long-term commitment to the region. The new site on Ruthven Street will welcome up to 400 staff and offer modern, flexible workspaces, meeting rooms and a rooftop area.
With dual head offices in Adelaide and Toowoomba, the bank honours its roots while supporting a team that values collaboration and growth. This investment highlights the bank’s dedication to both its people and local communities.
After its rebrand from Heritage and People’s Choice, PFB reported strong growth in home loans and profits in the first half of 2024. Its residential loan portfolio grew by $550 million, with total assets reaching $24.6 billion and a net profit after tax of $31 million. The bank’s steady growth and solid financials show its ongoing strength and commitment to members.
PFB continues to provide a wide range of trusted products and services under its new brand:
People First Bank serves customers through a broad network of more than 70 branches in the Northern Territory, New South Wales, Queensland, Victoria and South Australia. As the brand transitions, customers can continue to access all services at their usual locations and through the bank’s main websites.
People First Bank creates a workplace where people are valued and encouraged to be themselves.The culture is built on respect, inclusion and a drive to make a real difference. Their values are:
Employees are empowered to grow, contribute ideas and thrive in a team that puts people first. People First Bank’s commitment to its staff is clear through a range of benefits and support:
People First Bank also values equality and celebrates unique perspectives through its diversity and inclusion program. The bank runs an annual Diversity Census and Employee Engagement survey to track progress. Initiatives include allyship, a safe workplace and ongoing work to close the gender pay gap.
After serving as deputy CEO, Steve Laidlaw became CEO of People First Bank on 1 July 2024. He was previously CEO of People’s Choice Credit Union and brings deep experience in banking leadership.
The executive team brings a wealth of experience and unique backgrounds to People First Bank’s leadership:
The leadership team is guiding People First Bank through its integration and brand transition. Their diverse expertise helps shape the bank’s future and ongoing success.
People First Bank posted strong results in its first year after the merger, with profit up 29% and lending growth. The broker channel expanded, and the bank welcomed 47,000 new customers while maintaining a high net promoter score.
Investments in digital technology and a major debt issue helped drive progress. Looking ahead, PFB will focus on technology, community support and sustainability for future growth.
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