The opening of Bank of Melbourne's Balwyn branch on February 27 will be the Westpac subsidiary's fiftieth branch opening in six months. Since the relaunch of the BOM brand in July last year, 34 St George branches have been converted to BOM and the rest have been new sites. The bank said customer acquisition in Victoria had doubled since the change. Heritage Bank has expanded its distribution network and has started selling home loans in Western Australia, Tasmania and the Northern Territory. The Queensland-based mutual changed its name from Heritage Building Society in December. Standard & Poor's has assigned a long-term credit rating of BBB+ to the Sydney-based Police Department Employees Credit Union. The short term rating is A2. The credit union has A$1.1 billion in assets.