Thursday, January 12, 2017

Throwback Thursday: Clara & Lillian Westropp

Throwback Thursday: Clara & Lillian Westropp: Women’s Savings & Loan Co.

Along with a group of business and professional women, sisters Clara and Lillian Westropp founded and launched the first savings and loan run by women in the United States in 1922, Women’s Savings & Loan Co., just two years after women gained the right to votein order to educate women about money.  Though at a time when most banks had either failed, merged, or were acquired by the larger banks, Clara and Lillian Westropp saw a need to establish a bank that would serve the needs of women and saw the business quickly outgrow its original offices and move to larger quarters. By 1935, the Women's Savings & Loan Co. acquired a federal charter and was reorganized as Women's Federal Savings & Loan.

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"Everything that is past is either a learning experience to grow on, a beautiful memory to reflect on, or a motivating factor to act upon." ~Denis Waitley

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