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About Us
Marion County Savings Bank remains a locally owned mutual organization. It has expanded its activities from home loans and savings to include: Checking, Insured Money Market Accounts, Individual Retirement Accounts, Christmas Clubs, Certificate of Deposits, Automatic Teller Machine, Safety Deposit Boxes, Consumer Loans, Education Loans, Home Improvement Loans, Personal Loans, Auto loans, Commercial Loans, and Debit Cards. Marion County Savings Bank remains dedicated to thrift and home ownership in Marion County. It wishes to extend its appreciation for the support of the community throughout its 95-year history. Marion County Savings Bank was legally organized June 14, 1910, as Marion County Building and Loan Association through the Office of the Auditor of Public Accounts for the State of Illinois. James S. McCullough held the office at that time. The records indicate it was a mutual organization formed to raise funds to be loaned to the members for financing homes. The first Commissioners were C.A. Porter, James W. Leckrone, E.D. Telford, B.E. Martin, and T.F. Spencer. The first meeting of the subscribers was held in the office of E. D. Telford for the purpose of adopting a Charter, By-Laws and election of a Board of Directors. The following directors and officers were elected: H. Bachman, President and Director; B. E. Martin, Vice President and Director; E. D. Telford, Secretary and Director; J. J. Bell, Treasurer and Director; Dr. O. A. Kell, Director; Dr. T. F. Spencer, Director; J. H. Scott, Director; William Wham, Director; W. P. Morris, Director; L. J. Jourdan, Director; J. E. McMackin, Director; C. A. Porter, Director; W. C. Irwin, Director; J. C. Utterbach, Director The meeting recorded 98 subscribers with $1,285.00 in assets. By the end of its first year, the organization held $22,267.00 in assets. Ninety-five years later it has grown to $84,429,104.00 as of 4/30/2005. The first office was located in the law office of E. D. Telford located upstairs at 118 South Broadway, known as the old White building. From there it moved upstairs in what is now the City Hall building. It later moved to 120 W. Main Street and in March 1972 moved to its newly constructed facility at 301 W. Main Street. It completed a major expansion in early 1994, and added a new drive-up facility at 310 W. Main in 1999. The first real estate loan was made at a special meeting of the Board of Directors held on June 21, 1910. The property was located at 312 W. McMackin Street, which is now part of the parking lot of the current facility. Since that loan, it has made more than 7,700 real estate loans and 21,000 loans for other purposes. It started with one employee and currently has thirty. |
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