|Title||Bank, Omaha Loan and Building Association|
|Object Name||Bank, Still|
|Description||A little bank from the Omaha Loan and Building Association. It has a tin top and bottom. It is oval shaped with a little opening on top to put money in it. It has words on the back and sides. The name is on front.|
|Year Range from||1887|
|Year Range to||1910|
|Used||USA: Nebraska (Douglas), Omaha|
Omaha Loan and Building Association
Omaha Loan and Building Association was incorporated in 1887. The business was first the South Omaha Loan and Building Association. It was a mutual (depositor-owned) savings association. For those who subscribed for five shares (at $200 per share), they had voting privileges. Customers paid for their shares through a regular savings plan. They were fined if they missed a monthly payment. Once payments and interest reached $200 a share, the customer could exchange the shares for $1,000. A customer whose payments had reached one-quarter to one-third of the value of the shares could pledge them for a mortgage on a $2,000 home.
By 1910, the association established an office in downtown Omaha and changed its name to the Commercial Savings and Loan Association.
|Credit line||Nebraska State Historical Society Permanent Collection|
|Collection||Nebraska State Historical Society Permanent Collection|