Provident Institution for Savings in the Town of Boston

Boston, United States

Provident Institution for Savings in the Town of Boston

The Provident Institution for Savings (est.1816) in Boston, Massachusetts, was the first chartered savings bank in the United States. James Savage and others founded the bank on the belief that "savings banks would enable the less fortunate classes of society to better themselves in a manner which would avoid the dangers of moral corruption traditionally associated with outright charitable institutions."


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