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The Philadelphia Savings Fund Society (PSFS), originally called the Philadelphia Saving Fund Society, was a savings bank headquartered in Philadelphia, Pennsylvania, United States. PSFS was founded in December 1816, the first savings bank to organize and do business in the United States.
By 1940, the Philadelphia Saving Fund Society was the largest financial institution in Philadelphia. PSFS sought to advance its mission of uplifting the community through the virtue of saving and developed its client base from an early age through its school banking program.
When the Philadelphia Saving Fund Society occupied this building on Walnut at Seventh Street in the 1870s, it hired multilingual staff members to assist working-class immigrants in reaching their financial goals. (Library Company of Philadelphia)
May 19, 2016 · The Philadelphia Saving Fund Society was founded in 1816 as the nation’s first operational savings bank, and by 1830, one in 10 Philadelphians had a PSFS account.
- Danya Henninger
It was built for the Philadelphia Saving (later Savings) Fund Society in 1932 and was designed by architects William Lescaze and George Howe. The skyscraper's design was a departure from traditional bank and Philadelphia architecture, lacking features such as domes and ornamentation.
May 19, 2016 · This year marks the 200th anniversary of the the oldest savings fund bank in the country, the Philadelphia Savings Fund Society. While the bank shut down in 1992, its iconic skyscraper...
Mar 29, 2021 · Banks had been scrambling for floor space in Philadelphia just before the Great Depression, and the Philadelphia Savings Fund Society had selected the site of the former William Penn Charter School to construct its skyscraper.
