The Trustees System Service was an American loan and thrift institution founded in Birmingham, Alabama in 1914.[1] It was capitalized by wage earners in the American Midwestern cities in which it operated, and made unsecured loans out of this capital based on borrowers' budgets, income, and reputation for paying their debts. It published credit reports, and wrote insurance policies covering property and life. It established a new headquarters in Chicago, Illinois, where it built the Trustees System Service Building in 1930.[2]
| Industry | Finance |
|---|---|
| Founded | 1914 in Birmingham, Alabama |
| Defunct | January 1934 |
| Fate | Bankruptcy |
| Headquarters | Trustees System Service Building, , United States |
The bank collapsed some years later, and a receiver was appointed in late October 1932.[3] It was held bankrupt in January 1934.[4]
References
edit- ^ Briggs, Guy Morton (1921). The goal of the builders; a story of Trustees system service. Chicago: Trustees system publishing corp.
- ^ Illinois Historic Preservation Agency (July 13, 1998). "National Register of Historic Places Registration Form" (PDF). Archived (PDF) from the original on December 8, 2015. Retrieved September 15, 2019.
- ^ "Trustee system receivers". Wall Street Journal. October 31, 1932. ProQuest 131002083.
- ^ "Trustees system held bankrupt". Wall Street Journal. January 22, 1934. ProQuest 128635355.
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