“Six years after the first savings bank was established in 1810 in England by Henry Duncan, the Philadelphia Saving Fund Society became the first savings bank formed in the United States.” Philadelphia Author:Ted Ihde, Thinking About Becoming A Real Estate Developer?
“Whereas Philadelphia was home to the first savings bank established in the United States - Philadelphia Saving Fund Society, in the year 1816 - Philadelphia is also the city that became home to the first commercial bank established in the United States. Thirty-four years before America had its first savings bank - Philadelphia Saving Fund Society, in 1816 - the first commercial bank in the United States was established. This first American commercial bank was also established in the very same city that America’s first savings bank had been created - the city of Philadelphia.” Philadelphia Author:Ted Ihde, Thinking About Becoming A Real Estate Developer?