The Articles of Association dated 15 May 2006 were adopted at the founding meeting and approved by the Financial Market Authority in September of the same year.

On 21 November 2006, the first branch in Vienna-Leopoldstadt, which is also the company's headquarters, was opened in the presence of Federal President Heinz Fischer.

In addition to their main branch at the company's headquarters in Vienna Zweite Sparkasse operates branches in seven provincial capitals run in cooperation with volunteers from the associated savings banks of the federal provinces:[3][2] In the provinces of Lower Austria and Burgenland, Die Zweite Sparkasse is represented in the so-called correspondent banking system.

Only people referred to Zweite Sparkasse via one of the cooperating advisory organisations are accepted as clients.

The difference between Zweite Sparkasse and conventional banks consists in its social purpose, its volunteering consultants, and its not-for-profit status.