The Self-Help Association in Bolungarvík was founded in 1959. In its first years, the association focused on social activities for its members. The first chairman of the association was Kristján Júlíusson.

In 1962, there were fifteen full members and eighteen sustaining members. One had by then been made a life member.

In 1968, weekly work nights were held in Bolungarvík, but a lack of space hindered the activities.

Self-Help in Bolungarvík followed the same tradition as the organization in Siglufjörður and baked sun pancakes, with the pancake sale taking place January 23-25 when the sun appeared to the people of Bolungarvík. The organization has donated the money raised at the sun coffee and outdoor market,  Christmas bazaar, and other fundraising days for the purchase of equipment for the Bolungarvík physical therapy center. Funds for most of the equipment purchased there since 1982 have been raised by members of the Sjálfsbjörg association. In 1993, it was also decided to donate a hearing loop system to the church for the hard of hearing. When service apartments were built in Bolungarvík in the early 1990s, Sjálfsbjörg in Bolungarvík had the right to manage three of them.

Self-Help's activities in Bolungarvík are still on a social note, as can be seen from the fact that the organization held an extensive quiz competition in 2005.

The chairperson of Sjálfsbjörg in Bolungarvík during Sjálfsbjörg LSH's 50th anniversary year (2009) was Anna Torfadóttir. In 2019, during the organization's 60th anniversary year, the chairperson was Kristján Karl Júlíusson.