Central West End Savings and Loan Association, the first new state chartered savings and loan institution in Missouri in seventeen years, and in the St. Louis metropolitan area in twenty-five years, will be the anchor tenant in the historic Dorr and Zeller building on Waterman and DeBaliviere, the heart of that burgeoning redevelopment area. The savings and loan will occupy the ground floor of the building, and Pantheon Corp, the developers of the Pershing-DeBaliviere area, will move its offices from Laclede Ave. to the second floor of the Dorr and Zeller building.
Invitations to become charter depositors in this unique, neighborhood financial institution are now being mailed to residents of the Skinker-DeBaliviere area.
Deposits will be pledged, and will not be actually requested until after February 1, 1979. The savings and loan expects to move into the Dorr & Zeller building in the spring of 1979.
Tom Scatizzi, president and managing officer of Central West End Savings and Loan said that the DeBaliviere and Waterman location of its home office directly relates to the purpose of the association’s founding: “This is a grass-roots financial institution, organized by people who live and work in the west end; who are knowledgeable and responsive to the needs of this community. We think this will be a practical and imaginative solution to the problems of financing and purchasing residential properties in the city. We believe this is the first lending institution of its kind in the country.”
The director of marketing for Central West End Savings and Loan, Kathleen Hamilton, stated that she is confident with the neighborhood support previously shown, that the association can meet its required minimum of one thousand accounts to open: “We are inviting our neighbors and friends to open a savings account of any size, or invest in a Certificate of Deposit. People’s savings will not only earn interest competitive with other savings and loans, but our depositors will have the added return of investing in and strengthening our west end community.”
Originally published in The Paper, December 1978.
Read this article in the original newspaper issue.
Original source: SD_Times1978_12.pdf, printed page(s) 1; PDF page(s) 1.
