First-ever recipient of Heritage Bank Peter Cleary Memorial Scholarship announced

27 July 2021

Inglewood student Kate Osborne’s educational journey at the University of Southern Queensland (USQ) has received a significant boost after becoming the first-ever recipient of the Heritage Bank Peter Cleary Memorial Scholarship.

Ms Osborne has been named the inaugural recipient of the scholarship which honours the memory of long-serving Heritage Bank senior executive Peter Cleary. 

Mr Cleary had a 24-year career at Heritage, including a significant period as the bank’s Chief Financial Officer, and was also very active within Toowoomba’s community service groups. 

In keeping with Mr Cleary’s background, the scholarship assists a second-year student from rural or remote Queensland area doing a business or commerce degree at USQ.

Heritage Bank CEO Peter Lock said he was delighted to partner with USQ for the scholarship, and welcomed Ms Osborne as the first-ever recipient.

“We’re thrilled to support Kate through her educational journey as she completes her Bachelor of Business and Commerce degree, majoring in HR Management and International Business,” Mr Lock said. 

“This inaugural scholarship marks the start of a fitting legacy that recognises Peter Cleary’s contribution to the community, and supports up-and-coming business leaders from rural and remote Queensland.”

Heritage Bank and USQ launched the Peter Cleary Memorial Scholarship late in 2020.

Over the next three years, Heritage will donate $100,000 to USQ to help establish the endowment fund over the next three years. USQ will match Heritage’s donation at 2:1, bringing the total in the endowment fund to $300,000. That fund will finance the annual scholarship in perpetuity. 

Ms Osborne received $2000 for the inaugural awarding of the scholarship, with the amount set to increase over time.

PHOTO: Marie Cleary, wife of Peter Cleary, welcomes inaugural scholarship recipient Kate Osborne.