The present brick building was erected in 1866, replacing an earlier timber construction, and used as Council Chambers, Town Hall and Library/Reading Rooms. When the Library was relocated in 1970 many old books remained in the present building forming an interesting collection of Goldfields reading matter in the original setting. About this time the Chiltern Athenaeum Museum was formed by enthusiastic members of the public who operate the museum on a volunteer basis.

Maintenance and display of historical items.
The Katandra & Distict History Group aim to locate, catalogue, copy or acquire items of historic importance to the local area and to make them available to the community.
The Falls Creek Historical Society is committed to ensure the collection, preservation and interpretation of the unique history of Falls Creek and the Bogong High Plains.
By way of interactive and informative displays and detailed archiving, they wish to stimulate community interest and involvement in telling the distinctive Alpine history. Alongside their comprehensive museum collection, they undertake artistic and diverse methods of storytelling such as curated walks, village history trails and pop up museum displays.