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Savers Federal Savings and Loan Association Records, 1906-1983

Savers Federal Savings and Loan Association Records, 1906-1983

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Savers Federal Savings and Loan Association Records, 1906-1983 UALR.MS.0106

UALR Center for Arkansas History and Culture
401 President Clinton Avenue
Little Rock, AR, 72201
archives@ualr.edu



Profile Description

Creation: This finding aid was produced using the Archivists' Toolkit 2014-04-21T16:35-0500

Repository: UALR Center for Arkansas History and Culture
Title: Savers Federal Savings and Loan Association Records, 1906-1983
Dates: 1906-1983
Quantity: 8.0 Linear feet; 4 document boxes, 1 flat box, 6 OV flat boxes, and 2 OV ledgers
Identification: UALR.MS.0106
Language:

Arrangement

By type of item.

Scope and Contents Note

This collection contains minutes and scrapbooks of Savers Federal Savings and Loan Association, concerning Board of Directors and shareholder meetings (1906-1965) and advertising techniques and press (1935-1983). Also included are the minutes of the Little Rock Investment Company (1950-1954) and photographs of the construction of Savers Federal Savings and Loan Association building in 1979, later renamed USAble Corporate Center.

Please note that board minutes from 1965 to 1989 were among the records retained by Resolution Trust Company, a federal entity charged with liquidating assets after the failure of the Savers Federal Savings and Loan Association.


Historical Note

Established in 1906, the Pulaski Building and Loan Association opened in the First Pyramid Life Insurance Building in Little Rock. J. H. Carmichael served as the association's first president and John E. Parson, the first secretary. A slate of nine directors was elected at its incorporation and included Aaron Frank, A. Lofton, A. C. Read, M. B. Sanders, C. A. Bosshardt, A. L. Schader, R. C. Powers, Fred Rossner, and C. G. Price. In 1916, Wilbur Paul Gulley, Sr., joined the association and guided it for 48 years.

In 1935, a federal charter was granted to the Pulaski Building and Loan Association. To reflect its new status, the association changed its name to Pulaski Federal Savings and Loan Association (PFS). Its assets totaled $117,000. Two years later, PFS moved to the southwest corner of Louisiana and Second Street.

PFS merged with Guaranty Federal Savings and Loan Association in 1937, bringing its total assets to over $1 million. Although an expansion in 1948 doubled its office space, PFS outgrew its location and moved to a new building at Third and Spring Street in 1958.

In the 1970s, the company's assets rapidly grew from $100 million in 1971 to $300 million in 1978. After conducting marketing research and determining the "Pulaski" name limited the association's appeal outside of Little Rock, the PFS changed its name to Savers Federal Savings and Loan in 1978. Savers moved again, this time constructing an 11-story office building at Fourth and Spring Street, later renamed USAble Corporate Center.

In the 1980s, Savers failed during the national savings and loan crisis. In 1989, the Federal Deposit Insurance Corporation assumed control of Savers, along with other insolvent savings institutions. In 1991, its remaining assets were sold to other savings and loan associations.


Little Rock (Ark.)--History--20th century
Savers Federal Savings and Loan Association (Little Rock, Ark.).
Savings and loan associations--Arkansas

Restrictions

Conditions Governing Access

This collection is available for viewing at the Arkansas Studies Institute.

Conditions Governing Use

The copyright law of the United States (Title 17-U.S. Code) governs the making of photocopies or other reproductions of copyrighted material. The person using this material is liable for any infringement.

Copyright for correspondence in the collections belongs to those correspondents or their beneficiaries. Persons wanting to re-use those materials are advised to obtain permission from copyright holders.


Administrative Information

Citation Notes

Bibliographic citation:

Savers Federal Savings and Loan Association, 1906-1983, UALR.MS.0106. UALR Center for Arkansas History and Culture, Arkansas Studies Institute, Little Rock.

Footnote or Endnote info:

Description of item, box number, folder number, Savers Federal Savings and Loan Association, 1906-1983, UALR.MS.0106.

Immediate Source of Acquisition

Donated by Randall Cole, Resolution Trust Corporation receiver for Savers Federal Savings and Loan Association, 1992.


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