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Happy 4th of July, you wonderful old First Federal Savings and Loan!

Posted by on July 4, 2017

Apologies to Frances GoodrichAlbert Hackett, and Frank Capra. for the misuse of their words.

My first bank account was with Elgin’s First Federal Savings and Loan. Apparently, at the time, when you opened an account you were given a bank in the shape of the building. I found that bank, along with my passbooks a few years ago in the attic of my mom’s house in Elgin.

The bank is the color of old pennies — it may have been brighter copper colored when it was new. It is showing wear on one side, I think it is oxidation. White, not green, so I guess it is not copper.

I use the bank to hold foreign coins. I found a key that works (now that I look at it, it is the original key), so they are not forever stuck in it. I had the bank on my bookshelf in my office, but I want a less cluttered area so I am not positive what I am going to do with it.

The passbooks date from January 9, 1961 (I was 4) and is a joint account with my father. On January 10, 1961, a total of $31.06 was deposited into the account. The most money in the account was $2,364.74 on November 28, 1979. The account was closed on June 20, 1981, probably because I moved to Pittsburgh.

It seems I had another account with Elgin Federal Savings and Loan that I opened on March 8, 1976. Its highest amount was $538.11 on July 1, 1976. I closed this on November 23, 1976.

I vaguely remember going to the bank to deposit money and to withdraw money using these passbooks. I didn’t have a checkbook or credit card and ATM machines weren’t invented yet.

As for the passbooks — I will keep them in a box in the knee wall. Maybe the kids will find them interesting someday. If nothing else, the advertisements are interesting.

I like the way the style of homes are different from the passbook that was opened in 1961 and the one that was opened in 1976.

I guess $30,000 was a lot back then (1961)

 

One Response to Happy 4th of July, you wonderful old First Federal Savings and Loan!

  1. Mali

    I think it’s lovely that you have all these things from your childhood.

    As an aside, I’ve always read your posts mentioning Elgin, and pronounced it in my head with a hard g. But the other day I was watching (again!) a West Wing episode (as I was editing photos, I was streaming the old episods) and noticed that the pilot announced that Air Force One was flying over Elgin, and they pronounced it with a soft “g.” Is that correct?

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