|First Tuskegee Bank|
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When our predecessor institution, Tuskegee Cooperative Building and Loan Association, was first chartered in 1894 it was housed in a classroom on the campus of Tuskegee Institute in Tuskegee, Alabama. In 1939, the Association purchased a parcel of land located on Montgomery Road - directly across from the campus. This location served as the site of its first office building.
The institution changed its name to Tuskegee Savings and Loan Association in April of 1941. In 1952, a second name change occurred and it became known as Tuskegee Federal Savings and Loan Association ("FSLA").
By 1956, assets had reached the million dollar mark! In 1964, with assets approximating $2.5 million, the office underwent a major renovation to accommodate its growing customer demand and need to expand its services. However, by 1985, it had completely outgrown its Montgomery Road facility and the entire operation had to be transferred to the larger facility closer to the center of town.
When TFSLA became insolvent in 1990, Resolution Trust Corporation (“RTC") placed it in conservatorship. In October of the following year, First Tuskegee Bank (“FTB") – a state chartered, full service commercial bank – assumed certain liabilities and purchased selected assets of the former TFSLA from the RTC. Thus, First Tuskegee Bank became part of the chain which is identified as one of the oldest continuously operating minority owned-and-operated financial institutions in the country!
Over the years, First Tuskegee Bank has broadened the scope and convenience of its services to include two additional branches in near-by Montgomery, the capitol of Alabama. The West Montgomery branch is located squarely in Montgomery’s downtown sector, while the East Montgomery branch is situated at one of the city’s busiest traffic exchanges, the intersection of East Boulevard and Vaughn Road.
First Tuskegee Bank has continually strived to provide quality products and services to the communities it serves. It prides itself on its status as a community business and actively targets lending projects that address important community needs such as low-to-moderate income housing, the construction of elderly care centers and access to SBA loans. In addition, the Bank is building a growing reputation as a major source for church lending the Montgomery-Macon County areas where its branches are located. Its efforts to provide more affordable housing options has led to a partnership with Fannie Mae. Furthermore, its Secured VISA¸ Classic Credit Card offers consumers of various ages and financial circumstances an opportunity to establish – or re-establish – healthy credit histories.
First Tuskegee Bank will always be on the lookout for opportunities where it can provide a service - or become a part of a project - which will strengthen the financial stability of the communities it serves or hopes to serve. It intends to work hard to continue to set a standard for quality community service by promoting communal pride and supporting the development of local businesses.
301 N. Elm Street
Tuskegee, Alabama 36083
Toll Free Number 1-800-950-7619
|Title:||First Tuskegee Bank|
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