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Abbeville Savings and Loan SSB

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Abbeville Savings and Loan SSB

History:

Abbeville Savings and Loan Association was organized April 24, 1907 under the name of Building and Loan Association of Abbeville. The assets at the time were only a few hundred dollars. The principal objective of the association was to encourage the common person to save money monthly for the primary purpose of building or buying a home. Deposits were made rigorously on a monthly basis by shareholders to help build enough funds for at least one of them to buy or build a home. Previously, banking had been limited to only those with wealth and assets that needed protection. Home ownership was rare and renting was predominant. The savings and loan opened the doors to the accumulation of savings and the pride of home ownership to all of Abbeville's citizens. You could say that the business was primarily "neighbors helping neighbors." By May 11, 1910, three years after its inception, twenty-seven families in Abbeville called themselves homeowners because of membership in the savings and loan.

The savings and loan has touched the lives of virtually everyone in Abbeville County. It has made homeownership possible to thousands of families in the Abbeville region of South Carolina. Depositors have amassed funds for home building or purchase, college education, retirement and a myriad of other reasons. Even though the numbers have changed to much larger numbers, the location has changed to a different street with a bigger office, and the faces and number of employees have changed over the years, one thing has remained constant. The primary purpose of Abbeville Savings and Loan is and always has been to help individuals and families accumulate savings and own homes. One hundred years of dedication to Abbeville. The savings and loan has seen other financial institutions come and go, it has withstood two major world wars and even the Great Depression. Today, the savings and loan is stronger than ever before in its history. Whether you call it the building and loan or the savings and loan, we've been around now for a century, and we're here for you today, tomorrow and far into the future. You can count on that!

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