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Millville Savings & Loan Association Inc

Millville, New Jersey, United States

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General Info:

In 1941 Millville Savings and Loan Association was formed when five building and loan associations were merged with assets totaling $387,174. The following are the five building and loan associations that merged: Columbia Perpetual Building and Loan, Hope Building and Loan, Institute Building and Loan, Protected Building and Loan, and Security Perpetual Building and Loan. The first meeting was held on June 2, 1941 at the offices of Reeves and Melvin. Clarence Reeves, better known as "Ki," was elected President. Fourteen directors were present. Business transacted included granting five loans totaling $8,200. The mission of the newly founded association was to encourage home ownership and to promote saving. In October 1941, a contract was awarded to Raymond Goodwin for the construction of an office building at 219 North High Street. The cost was not to exceed $9,500. The office building, costing $9,107, was open for business on March 20, 1942. The staff consisted of an Executive Secretary and a teller/ stenographer. The building at 219 North High Street operated as a branch office until 2000. It was sold in 2002.

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