• The first savings banks in the United States were established in Boston and Philadelphia in 1816.
• Savings banks originated in Europe during the mid-18th century.
Texas Relevance
The article does not mention Texas, TCUD, or any Texas-specific entities. It provides historical context for savings banks but is not relevant to current Texas credit union operations or compliance requirements.
Original Content
Savings banks had developed in Europe in the middle of the 18th century. In this country, the first two were founded in Boston and Philadelphia in 1816. The post From the Vault: The birth of savings banks appeared first on ABA Banking Journal .