Concept   

Penny Savings Bank

Categories: Commerce, Social Welfare

Concept

From Tottenham Quakers  "In 1798 Priscilla Wakefield founded the first "frugality bank" in England. This she founded at Ship Inn Yard in Tottenham. It was intended to help people on lower incomes to save money. There were facilities for women and children to save what they could from their income and soon it became a safe and profitable place of saving for labourers and servants. Members paid, according to age, a sum of money each month to entitle them to a pension after age 60 and money if they were sick. Children were encouraged to save a penny a month towards clothing and apprenticeships.  The immense success of this enterprise meant that similar "savings banks" spread throughout the country. They were eventually nationalised in 1865 when the Post Office Savings Bank was established. Penny savings banks continued in schools until 1919, when they were absorbed into the Post Office Savings Bank."

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This section lists the memorials where the subject on this page is commemorated:
Penny Savings Bank

Commemorated ati

Priscilla Wakefield

Our colleague Alan Patient took a photo of this plaque in 2008 and tells us i...

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Other Subjects

Wimpole Street Post Office

Wimpole Street Post Office

This was at the southern end of Wimpole Street, on the east side.  The Royal Society of Medicine website tells us: "Once again 1 Wimpole Street was given a major refurbishment between 1982 – 86 ......

Building, Commerce, Property

1 memorial
British Empire League

British Empire League

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Group, Commerce, Politics & Administration

1 memorial
Benetfink & Co

Benetfink & Co

From Regent Antiques: "Described themselves as ‘furnishing ironmongers’ and had large premises on Cheapside in London from 1845 to 1907. They sold a very large range of metalware items for the home...

Group, Commerce

1 memorial
Alexander McLeod

Alexander McLeod

One of the founders (1868) of Royal Arsenal Co-operative Society (RACS). First full-time secretary from 1882 until his death. He was the son of Skye crofters and served an apprenticeship of five y...

Person, Commerce, Politics & Administration, Scotland

2 memorials
Sycamore Laundry

Sycamore Laundry

It began as a business run by a Mrs. Buckland, who was said to have collected laundry in a barrow and washed and ironed it at home. In l880, Alexander Leman, married Mrs Buckland's daughter, and he...

Place, Commerce

1 memorial