Description

Admin History:

The first Savings Bank was attributed to the Rev. Henry Duncan of Ruthwell, Dumfriesshire, in 1810. In 1817 an Act of Parliament regulated these "savings banks" and allowed for new ones to be formed. In Hull the Mayor chaired a meeting which set up the Hull Savings Bank, and its first premises were over the old Corn Exchange in Market Place. It soon moved toBowlalley Lane.

The banks were what we would now call "not for profit". None of the people running them were to gain any financial or other benefit. There were to be no shareholders. All profits were to be ploughed back for the benefit of savers or the upgrading of facilities. In 1914 it had assets of £3 million deposited in 88,000 accounts. In 1975 the Central Trustee Savings Bank had become just another clearing bank. In 1985 the Trustee Savings Bank Act put the group up for flotation and shares were sold. Ten years later it was swallowed up by Lloyds.

Description:

Leaflets requesting returns to Hull Savings Bank