About us

We're committed to improving the wellbeing of communities across Australia.


Welcome to the People First Bank Foundation. 

The name may have changed, but our focus and philosophy of support has not.  We are still passionate about supporting high quality programs that create long lasting positive impacts by reaching people in need in the communities we serve. 

Our support focuses on three key areas:

  • Positive educational and alternative pathways to help at-risk children and teenagers;

  • Health care services for vulnerable Australians and their families; and

  • Support for the economic and social wellbeing of people in regional, rural and remote communities, including in times of natural disasters.

The future is bright. Just like the Bank, the merger allows us to have a more national presence. This already can be seen in the selection of our 2024 charity partners, where we have supported programs right across the People First Bank footprint.

Heritage Bank Charitable Foundation Limited has been renamed to People First Foundation Limited following the successful merger between the former Heritage Bank Limited and Australian Central Credit Union Limited trading as People’s Choice in 2023

How are we making a difference?

When you make a donation to the People First Bank Foundation, you’ll be providing so much more than just a financial contribution. We don’t feel the best approach to support the community is to “just write a cheque”. Instead, we take a holistic approach. The charities we assist will have the collaborative backing of our staff, members and business partners. Our goal is to harness the collective strength of the People First Bank community to make a positive difference to the lives of individuals and their families. People First Bank funds all operational costs of the Foundation, ensuring all donations received and investment income generated is applied to helping those in need, now and into the future.


How do we do it?

The People First Bank Foundation (formerly Heritage Bank Charitable Foundation) was established in 2018 as a Public Ancillary Fund, with seed funding of $2 million from Heritage Bank.

A Public Ancillary Fund is a philanthropic structure established by a trust deed for the purpose of making distributions to organisations who are charities registered as deductible gift recipients (DGRs). This means we are only allowed to provide grants to registered charities, not individuals or non-registered organisations. 

Our Foundation is also a DGR entity, so donations to us are tax deductible.

The People First Bank Foundation’s philosophy is to provide support now while also building a strong corpus that will benefit and build stronger communities well into the future.  We are in this for the long haul and are dedicated to providing the necessary resources to make a difference.

While Heritage Bank provided the original seed funding, the Foundation appreciates that many people across the community also want to play a role in helping those less fortunate. That’s why the Foundation is able to accept tax-deductible donations from members of the public to help us in our mission to support people in need.

We invite you to share our vision of Growing stronger communities, together, where what you do has a real impact on the people around us. Visit our donate page to become a Foundation supporter today.

Who are we?

Bill Armagnacq

Bill Armagnacq



Bill Armagnacq served as Company Secretary and Assistant CEO at Heritage Bank for more than 15 years before retiring in May 2019. He has also held senior roles with Ergon Energy and KPMG in Brisbane. 

Mr Armagnacq brings extensive board and corporate senior executive experience to the People First Bank Foundation as he also serves as chair of the Inner Darling Downs Community Consultative Committee for Inland Rail and as a Director of Empire Theatre in Toowoomba.

Paul Williams

Paul Williams 

BA, GradDipAppFin, MA (Cantab), MBA, CFTP


Paul Williams has been with the bank since 2000 and is currently the Chief Financial Officer of People First Bank. Mr Williams has more than 25 years’ experience in the finance and property industries having previously worked in Australia and South Africa for various banks as well as global advisory and commercial real estate services firms. 

He holds a Bachelor’s degree from the University of Queensland, a Master’s degree from the University of Cambridge in the UK, an MBA from the University of Southern Queensland and a Graduate Diploma in Applied Finance from the Finance and Securities Institute of Australia.

Paul Olds

Paul Olds  

B.Teach, MBA

Executive Officer 

Paul Olds is the Executive Officer of the People First Bank Foundation.  Paul is an experienced not-for-profit leader who was most recently the CEO of Queensland-based charitable organisation the MND and Me Foundation, which supports people with Motor Neurone Disease. 

Paul brings not only extensive experience in both the commercial and not-for-profit sector but, importantly a passion for philanthropy. He is responsible for developing the Foundation’s strategies, establishing relationships with key stakeholders, guiding our fundraising efforts and setting up the Foundation to make a meaningful impact in the communities we support.

Christine Maher

Christine Maher

BA LLB (Hons), Solicitor of the Supreme Court of Queensland, MAICD


Christine Maher is a former partner of Corrs Chambers Westgarth, Lawyers and an experienced non-executive director. Ms Maher is interested in governance, the financial services sector, education and charitable entities.

She is currently a director of Energy Super and the St Joseph’s College Foundation as well as being a former member of the QSuper, WorkCover Queensland and Royal Brisbane Women’s Hospital Foundation Boards.

Stephen Davis

Stephen Davis 



Stephen Davis has been on the Board of People First Bank (formerly Heritage Bank) since 2011. He is the Managing Director of Toowoomba valuation firm David W. Swan & Associates. Mr Davis is a qualified valuer, and a licensed real estate agent and auctioneer. He has a long history of service to industry, community and sporting organisations in the Toowoomba region.

Mr Davis is the past President of the Toowoomba East Primary School P&C; the Darling Downs Branch of the Real Estate Institute of Queensland; the Toowoomba East Rotary Club; and the Glennie Athletics Club. He has been the Deputy Chairman and Treasurer of the Toowoomba Hospice Association since 2001.

Virginia Hickey

Virginia Hickey



Virginia joined the People First Bank Foundation in February 2024.  She was a Director of the People’s Choice Board from 2014 until the merger with Heritage Bank in March 2023. Virginia is a corporate governance specialist and company director with extensive experience in commercial, government and not-for-profit sectors.

Virginia sits on the boards of the Southern Adelaide Local Health Network, Energy Consumers Australia, and Agency Projects. She is Chair of the Public Trustee’s Audit and Risk Committee and of Department of Premier & Cabinet’s Risk and Performance Committee and is a member of Anglicare SA Governance Committee. She is also a facilitator in the Australian Institute of Company Directors’ national and international company director courses.

Aside from bringing a wealth of experience, Virginia is very passionate about supporting the people of South Australia.  Her local knowledge and experience will be invaluable in the ensuring our support makes a lasting impact in this new region for the Foundation as we develop a more national presence.

Our history

The People First Bank Foundation has a history of supporting the communities in which it operates.

Keep up to date with the latest Foundation news.