[6] People's Choice traces its origins to 1949[7] and since then has evolved through a number of mergers including with the Northern Territory Credit Union.

In August 2009, Australian Central Credit Union and Savings & Loans[8][9] announced plans for a merger which was completed in December 2009.

[10] Members then voted to change the name of the new organisation to People's Choice Credit Union[11] which was adopted on 18 July 2011.

[13] In August 2021, People's Choice Credit Union entered into discussions with Heritage Bank about a potential merger,[14] and in April 2022 both companies announced that they planned to merge.

[18] Heritage and People’s Choice Limited is a mutual organisation, a member-owned structure where its customers are also shareholders.