From Tottenham Quakers "In 1798 Priscilla Wakefield founded the first "frugality bank" in England. This she founded at Ship Inn Yard in Tottenham. It was intended to help people on lower incomes to save money. There were facilities for women and children to save what they could from their income and soon it became a safe and profitable place of saving for labourers and servants. Members paid, according to age, a sum of money each month to entitle them to a pension after age 60 and money if they were sick. Children were encouraged to save a penny a month towards clothing and apprenticeships. The immense success of this enterprise meant that similar "savings banks" spread throughout the country. They were eventually nationalised in 1865 when the Post Office Savings Bank was established. Penny savings banks continued in schools until 1919, when they were absorbed into the Post Office Savings Bank."
This section lists the memorials where the subject on this page is commemorated:
Penny Savings Bank
Commemorated ati
Priscilla Wakefield
Our colleague Alan Patient took a photo of this plaque in 2008 and tells us i...
Other Subjects
Williams Deacon's Bank
The first record of this bank is in 1771 as Raymond, Williams, Vere, Lowe and Fletcher. Its name changed a number of times due to the comings and goings of partners. It was reconstituted in 1825 wi...
Fred L. Turner
Businessman. Developed the McDonald's hamburger brand.
James Purdey the younger
Gunmaker, built premises in 1880 to house his new showrooms and workshops, James Purdey & Sons Ltd. The Picture Source website has a short on-line history and also informs about a book on the s...
Frederick Horniman
Tea merchant, benefactor and politician. Born Frederick John Horniman at Bridgwater, Somerset. He inherited his father's tea business, which by 1891 was described as the biggest tea firm in the wor...
Person, Benefactor, Commerce, Museums / Libraries, Politics & Administration, Race Issues, Ceylon, India
Robert Harrild
Printer and engineer. Born in Bermondsey, where in 1801 he set up the Bluecoat Boy Printing Office, producing books and commercial stationery. He is noted for introducing 'composition rollers' whic...