Concept   

Penny Savings Bank

Categories: Commerce, Social Welfare

Concept

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...

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Other Subjects

N. Spyropoulos (London) Ltd

N. Spyropoulos (London) Ltd

Trader at Covent Garden Market at its original site.

Group, Commerce

1 memorial
Luigi Manze

Luigi Manze

Member of the eel, pie and mash shop family.

Person, Commerce, Food & Drink

1 memorial
National Provincial Bank

National Provincial Bank

Created by Thomas Joplin (1790?–1847) and George Fife Angas (1789 – 1879) as one of the first joint stock banks with a base in London and provincial branches. The London base was at 15 Bishopsgate...

Group, Commerce

1 memorial
Charles Dello Strologo

Charles Dello Strologo

Strologo gave about 80 bus shelters to Surrey. Researching Strologo we found that someone was ahead of us: John Slatford, who has very kindly allowed us to re-present his findings here: "Charles D...

Person, Benefactor, Commerce, Egypt, Italy

1 memorial
Lord Sandberg CBE

Lord Sandberg CBE

Trustee of The Memorial Gates Trust. Michael Graham Ruddock Sandberg was born on 31 May 1927, the youngest of the three children of Gerald Arthur Clifford Sandberg (1882-1954) and Ethel Marian Cli...

Person, Armed Forces, Commerce, Politics & Administration

1 memorial