Established in 1903 as the Government Advances to Settlers Office, it was disestablished in 1974 when its functions were transferred to the Housing Corporation of New Zealand.
In between the passing of the act and establishing of the office, operations had been overseen by the Superintendent of the Advances to Settlers working in conjunction with the Treasury.
[2] The State Advances Corporation was responsible for the provision of loans and mortgages for the purpose of constructing new houses, buying existing homes or farms, and the re-financing of existing mortgages.
It also had responsibility for the construction, letting and administration of the country's state housing stock.
[3] The corporation ceased to exist on 14 October 1974 when its functions (along with the Housing Division of the Ministry of Works) were inherited by the newly established Housing Corporation of New Zealand.