Phoenixville Federal Bank And Trust Careers in Phoenixville, PA

Phoenixville Federal Bank & Trust traces its origin to the tiny village of Oaks , Pennsylvania in the year 1911. A group of gentlemen concerned about the inability of people to secure mortgages for the purchase of homes formed the Oaks Building & Loan Association. At that time, the monthly meetings were held in various locations, including the homes of the individuals involved as well as the Oaks Fire Company. The Building & Loan accepted deposits from the general public and used those deposits to fund mortgages. The Building & Loan functioned in this manner through 1938. As a result of its growing business, the Building & Loan sought to locate its first office building. It was determined to locate that office in the Borough of Phoenixville at 27 South Main Street . A decision was also made at that time to apply for a federal charter. In 1939, a charter was granted by the federal government and the name was changed from the Oaks Building & Loan to Phoenixville Federal Savings & Loan As