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| Additional information |
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| Marquette Savings Bank |
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History:
Erie's hometown bank with the hometown touch specializes in home loans and savings programs. The institution has made a niche for itself by seeing that local money stays within the metro area, one of the bank's core principles from the start.
The concept began with a group of 38 local businessmen. Their purpose was to stimulate savings and loan programs to help local residents with home ownership and improvements. During an April 1908 organizational meeting for the association, the following members were elected to offices: Charles P. Deuser as president; Frank D. Schultz as vice president; William H. Kneib as recording secretary; and Doctor F. C. Callaghan as treasurer.
On May 27, 1908, then-Pennsylvania Governor Edwin S. Stuart approved the institution under the name Marquette Building and Loan Association, with assets of $2 million.
Business transactions were held at various locations along State Street in downtown Erie for a two-hour period on Tuesday evenings. Deuser retired in 1920 and John J. Mead, Sr., was elected president, a position he held until his death in 1941. Under Mead the association moved into a small office area in the newly constructed Erie Daily Times Building on 110 West Tenth Street. With two desks and a counter, the association began daily transactions.
As business increased, new headquarters were rented in April 1939 at 920 Peach Street. Six years later, the association was able to initiate the purchase of the building where the main office has been located ever since. The purchase was finalized in 1954, and the building was remodeled.
Mead was succeeded by B. A. Brugger, who served as president until January 1955. In 1951 the association was admitted as a member in the Federal Home Loan Bank system and the Federal Savings and Loan Insurance Corporation. In 1958, the association's 50th anniversary, President H. A. Obert announced that assets had reached $15.5 million.
In 1963 the first of five regional branch offices opened in Meadville, Pennsylvania, and the following year another opened in the Liberty Shopping Center, located in Erie. The membership approved a name change in 1971 and the association became known as Marquette Savings Association. A new charter was granted in 1993 to better serve Erie-area customers, and the name was changed to Marquette Savings Bank.
Long time President, Frank L. Vogt, retired in 2002 after 42 years of service with the Bank. He was succeeded by Michael B. Edwards who holds the position of Executive Vice President, Secretary and Chief Executive Officer.
Since then, Marquette has added a new state-of the-art banking center on the east side of Erie, a drive-thru branch on Park Avenue in Meadville, and a new state-of the-art banking center on 38th & Sterrettania. In late August 2009, Marquette acquired three former National City Bank offices in Crawford County bringing its total number of offices to 12.
One thing hasn't changed, though, and that's the "Hometown Touch." It's what has set Marquette apart from the beginning and what you experience today in good old-fashioned service, where people who know you still answer the phone and where the customer still comes first.
Today, Marquette has 102 employees in 12 locations serving Erie and Crawford counties. Assets are now approximately $644 million and we plan to keep them working for us all right here in our community, where the hometown customer is our only customer. |
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