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The Akron Building and Loan Association/Savings and Loan Company papers

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Repository: University of Akron Archival Services

Title: The Akron Building and Loan Association/Savings and Loan Company papers

Dates: 1888-1924

Extent: 1 cubic foot

Creator: The Akron Building and Loan Association/Savings and Loan Company

Language: English

Access: Collection is open for research.

Finding Aid prepared by: Archival Services Staff

Related Material:

Administrative History:

In 1888, the Akron Building and Loan Association was opened a t 196 South High Street . The institution was established to help people with financial endeavors. The first officers were Hugo Schumacher, W.B. Gamble, A.H. Noah, William Buchtel, and P.M. Atterholt . During the great period of expansion for the city , the company served to aid the people of Akron to own their own homes.

In 1891, the growth of business made it necessary for the company to move to the Hotel Buchtel, at South Main and Mill . The year of 1895 brought another move to 130 South Main Street . In 1909, the name of the company was changed t o the Akron Savings and Loan Company, with its headquarters a t the South Main and Bowery Savings and Loan Building. At this time, the total assets of the company were $800,000. Tremendous growth ensued and by 1924, the Company's total assets increased to $6,000,000. In the same year, the Company's building was torn down and a new and larger building was erected at the same site. In 1980, the institution was renamed TransOhio Savings.

Sources: Growing With Akron. 1924.

Scope and Content:

The Akron Building and Loan Association/Savings and Loan Company papers contain materials, such as financial statements, annual reports, and meeting minutes, relating to the growth and development of the agency from roughly 1888 to 1924.

Arrangement:

The collection consists of seven small series: Objectives and Methods (1), Financial Statements (2), Semi-Annual Reports (3), Passbooks (4), Constitution and By-Laws (within dues books ( 5 )) , minutes of directors' Meetings (6), and a Miscellaneous file (7).

Objectives and Methods ( Series 1) is a pamphlet explaining the purpose of, management, and rules for investing money or procuring loans in the Akron Savings and Loan Company.

Series 2 consists of three booklets describing the financial statements for the company in the years 1890, 1891, and 1922. Also included are the names of the various officers and directors at the time of the publication of the financial statement.

The semi-annual reports in Series 3 are booklets compiled by the secretary of the Akron Building and Loan Association which lists the deposits, loans on mortgage, the constitution and by-laws for the years 1888-1889, 1891, 1893, there and 1894. In addition are the authorized and subscribed capital statements.

In Series 4 are found two passbooks, #6509 and #5950, formerly belonging to Steve Vuiceu (?) and J. Owen Kirkbride , and dating from Aug., 1916 to May, 1967, and Dec., 1916 to Nov., 1931 respectively.

The constitution and by-laws a real so included in dues books #5421 and an unidentified book. The dues books (Series 5)date from 1890 t o 1897, 1897 to 1898, 1900 to 1903, and 1903 to 1913. The owners of the dues books were Helen Townsend, Bernard McGaffrey, Frederick German and Fred and Ada German.

The Minutes of the directors' meetings (Series 6) comprise the largest space in the collection. Contained in four volumes of ledgers are the tally of votes for officers, attendance records, and legislation for the company.

The records cover the agency's administration from 1896 t o 1912. The miscellaneous file (Series 7) consists of a pamphlet entitled, Growing With Akron, a 1924 historical analysis of the Savings and Loan Company. Finally, the miscellaneous file contains a negative of the photograph of the new Savings and Loan Building of 1924.

Unfortunately, there are no general correspondence files for the company to supplement the committee minutes, passbooks and dues books. A researcher might find value in the directors' committee's minutes or the constitution and by-laws of the Akron Building and Loan Association.

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