The building has functioned as a financial institution since it was built and as of 2016[update] was owned by Steen Mengel and rented to Danske Bank, who use it for their main Aarhus branch.

It was established by the initiative of municipalities in Jutland to replace the credit union Kjøbstadgrundejere i Nørrejylland, founded in 1851 and bankrupted during the banking crisis of 1857.

Initially it was housed in the 1st floor of a building on Immervad owned by the bookseller THeodor Valdemar Thrue.

The organization quickly encountered storage problems as documents had to be stored in fire-safe enclosures.

In 1984 the architectural firm Kjær & Richter designed a new wing in red brick on a white, wooden structure.