The present Bank Building was built in 1917 and used by the Commercial Banking Company of Sydney. Taken over by the National Bank of Australia, the Branch was the oldest Bank in the Nambucca Valley when it closed and relocated due to Nambucca Shire Council moving their office from Bowraville to Macksville.

The building was purchased by the Challenge Foundation from funds given by the community in the early 1990's. Some of this money came from the sale of the Gay Rae School for people with special needs, an Art Group for people with an intellectual disability, that had been started in Nambucca Heads as a leisure activity relocated to the Disability Service.

The Old Bank was refurbished with funds from the Department of Family and Community Services and heritage Grant. Assistance was given by many community members including parents and families of people with an intellectual disability providing free labour and materials.

A community grant in 1993 provided the money to build an Arts Complex located behind the old Bank Building. The Arts Collective buildings are three Yurtz (octagonal rooms) built in mud bricks (supplied by the local community) with natural light and shady verandas. They were designed by a local architect Mr. Terry Parkhouse from Yarrahapinni. These buildings are environmentally sympathetic with the area and visitors are invited to wander around the buildings and watch the artisans at work.