Concept   

Penny Savings Bank

Categories: Commerce, Social Welfare

Penny Savings Bank

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

P. J. Fowler

P. J. Fowler

Trader at Covent Garden Market at its original site.

Group, Commerce

1 memorial
D'Oyly Carte family

D'Oyly Carte family

Richard D'Oyly Carte founded the business. Married Helen. Their son Rupert inherited the business and passed it on to his daughter, Bridget.

Group, Commerce, Music / songs, Theatre

1 memorial
London Stock Exchange

London Stock Exchange

1698 At Jonathan’s Coffee House  John Castaing published a list of currency, stock and commodity prices  It included prices for gold, ducats, silver staters and pieces of eight. 1773 A more formal...

Group, Commerce

1 memorial
People's Building Society

People's Building Society

It was operating in the 1860s with branches in Deptford, Greenwich and Lewisham. In 1968 it made an application to be merged with the Greenwich Building Society. Caroline's Miscellany gives further...

Group, Commerce

1 memorial
H. Lawrence

H. Lawrence

Director of the Brilliant Sign Company in 1938.

Person, Commerce, Politics & Administration

1 memorial