Alabama Penny Savings Bank Building


Founded by William Reuben Pettiford in 1890, the Alabama Penny Savings Bank was the first black-owned bank in the state and the second largest black bank in the country. It financed the construction of homes and churches for thousands of black citizens in the Birmingham area. By the time of Pettiford's death in 1914, it was the largest and strongest black-owned bank in the United States, doing business in excess of $500,000. In 1915, the bank merged with another black-owned bank, Prudential Savings, and became the Alabama Penny-Prudential Savings Bank. The institution failed in 1915. But despite its rather short life of 25 years, the Penny Bank contributed in great part to the black ownership of homes, the building of churches and businesses, and teaching many African Americans in the city how to properly manage their financial resources.

    Call Us
    Alabama Penny Savings Bank Building

    Visit Us

    • 310 18th St. N
    • Birmingham AL, 35203
    Phone: 2054588000

    Region

    Birmingham is located in the Birmingham & Tuscaloosa Area of the Central Alabama Region
    310 18th St. N
    Birmingham AL, 35203

    For more information

    2054588000

    Fees

    Not provided

    Hours of Operation

    Not provided
    Get your FREE
    Vacation Guide
    Stay Informed
    Subscribe to Newsletter
    Find the perfect Sweet Spot with our Interactive Map

    Where to Stay

    Upcoming Events

    I want to discover
    Alabama attractions by

    in
    and feel
    We use cookies on our website to enhance your experience. By continuing on our website, you consent to our use of cookies. Learn more in our Privacy Policy.