The structure is comprised of a large barrel vault with high, rounded end walls. The freestanding bank vault is constructed from native granite fieldstone reinforced by mortar and iron rods. It is one of the earliest examples of granite fieldstone construction in Manitoba.

The bank vault at Old Deloraine was built in 1883 by George Rickard, a Deloraine pioneer and stonemason. It was located within a bank erected the same year by brothers A.P. and Frederick Stuart. The fieldstone vault, used for the storage of valuables such as homestead deeds, is all that remains of Old Deloraine. The town site was located just south of the Old Boundary Commission Trail, the route used by the North West Mounted Police in the great trek west in 1874. In 1886 the settlement of Old Deloraine was moved eight kilometers southeast of the original site in order to be nearer the railway.

My first impression and experiences afterward suggest that the vault did not only have a commercial purpose. It has the airs of having been used for ceremonial purpose. It has been suggested that the field stones used in the building might have previously been part of a more ancient petroform, that are common in this area, that may have existed on the site. Apparently this was a common practice in the early settlement days. In any case when one enters the building one gets the impression that they have entered a medieval chapel from the British Isles.