Chasmont Finance Ltd grew from the Company formed by Charles and Montague Butterfield in 1931. The Butterfield family had established themselves in Dunedin as quality chair makers in 1868 and the Otago Furniture Company still manufactures quality furniture in its Teviot Street factory today.
In around 1922 Butterfields commenced retail selling of their furniture products and continued as retailers until 1988. Charlie and Monty recognised that their customers would welcome the opportunity to finance their necessities and desires. They also knew that the lifestyles and standard of living of those customers would be improved.
Chasmont Finance Ltd still continues to lend to customers through various retailers and directly via personal loans.
The Butterfield philosophy of "The Friendly Firm" is still upheld today.