CharlestonFederal.com
Title
Charleston Federal Savings and Loan
Description
Excerpted from the website:
- In December of 1882 the Charleston Homestead and Loan Association was chartered by the State of Illinois. These cooperative home financing organizations called mutual building, loan and homestead associations were formed based on the laws of 1879 to provide a safe place for community members to invest their savings and borrowers to borrower the funds necessary to purchase or construct homes. Following over 50 years of dedicated service to the community, in the midst of the great depression, Charleston Homestead and Loan Association changed its name to Charleston Federal Savings and Loan Association receiving its federal charter in 1935 and providing its depositors with federal insurance on deposits for the first time. It has continued to serve Charleston and the greater Coles County area, faithfully, for more than 125 years remaining the only locally owned institution in the Charleston community.
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