1905 Penny Banks

  • Page from Twenty-One Years of Mission Work in Toronto 1886-1907 The Story of the Fred Victor Mission

    Penny Banks Set Up in Toronto

    Penny Banks were set up as a way to encourage saving among children of poor families. In the later part of the nineteenth century, Penny Banks had been established in the city by religious institutions including the Fred Victor Mission for individuals not comfortable with traditional banks. A school branch, operated by the Victor Penny Bank Saving Association, was set up at Lord Dufferin School in 1900.

    Fred Victor Mission

    Printed paper


    Printed page from a book with black and white photo of children lined up at bank, text underneath