It was created from Countrywide Building Society, which itself emerged from the original Auckland Co-operative Terminating Building Society created in March 1897.
At the time of registration the bank's two major shareholders were Bank of Scotland, a large Scottish bank headquartered in Edinburgh, and General Accident, a major general insurer headquartered in Perth, Scotland.
The bank was listed on the New Zealand Stock Exchange.
[1] In 1992 Countrywide Bank purchased the United Building Society from the State Bank of South Australia.
[1] At the time Countrywide was larger and has subsequently been described as much more efficient than United.