Although our country historically had ingenious saving systems in the agriculture based economy in the olden days, our Co-Operative developed very slowly during the past 30 years. The Co-Operative movement was originated in mid 1970’s under the guidance of good leadership and good care. Co-Operative membership spread into the most remote areas of our country comprising of farmers, fishermen, field workers, teachers and even labourers. These communities were once considered as just ordinary people in the society who had no social order. The Co-Operative moment comprises of all communities in such as Sinhala, Tamil, Muslim and other communities. These people were of different faiths and different castes who work together as one under the philosophy of Co-Operative values. The co-operative moment has already maintained its integrity to all membership and served the community under its theory whether they are in the north or east. The majority part of the north are Tamil speaking Hindu or Muslim races. Co-operative moment has operated even in the flames of civil war which prevailed in the island about 30 years without a political solution. But today the bonds with the north and east people have become very strong and many activities are in place at the present moment.

Since its inception Housing Development Co-op Bank has concentrated on providing housing solutions to the country providing low-budgeted and durable houses, reconstruction housing units, condominium units and housing projects. Attempts were made to transform itself in order to face the intensifying competition in the housing sector.