Your Donations—With Personal Explanations—Are A Saving Grace

Posted on Jun 10, 2010 in categories Research Center

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There was a time when banks delivered more than mortgages, savings interest and money markets. During the “early days” from the Depression era (1930s) through after the Second World War, banks were known to lure depositors with presents—from the 1930s’ full sets of dishes to the 1960s and 1970s when you could get a stuffed animal, such as Harris Bank’s lion.

One of the newer items donated to the Glencoe Historical Society’s collection is a bank from the Glencoe National Bank, Harris’ predecessor. Bob Kottler, a former Glencoe resident and frequent visitor to the Eklund History Center donated a small, 2-3/4-inch high, 1-3/4-inch radius “oil” barrel in shiny steel that functions as a piggy bank.

On either end of the bank are small red plaques. One side reads: Glencoe National Bank, Glencoe, Ill.—Deposits insured to $10,000. The other reads: Member Federal Deposit Insurance Corporation, has a slit to deposit coins and adds “IT PAYS TO SAVE EVERYDAY” in larger type, all capitals. Under the slogan is a place for a key, evidently to open the bank once it is filled although no key came with the donation. We assume that the key opened the slot and you could shake out the coins. Finally, under the keyhole is “U.S.Pat No1458146 Chicago Thrift Co.”

Obviously, the Glencoe National Bank purchased the give-away from the Thrift Company, which manufactured the banks for around the city, the region or the country.

The Glencoe National Bank, 333 Park Ave., went out of business in 1985-1986 and its location was purchased by the Harris Bank. The new bank was named Harris Bank – Glencoe and later was consolidated with the Northbrook branch of the Harris into Harris Bank – Glencoe, Northbrook.

A simple piggy bank opens the door to many investigations for anyone who is interested in commercial history and the commercial history in Glencoe:

  • How often did banks have such give-aways? What were the results, i.e. how many people came in with filled banks to make deposits?
  • How many piggy banks did the Glencoe National Bank give out to its patrons? What percentage of that group deposited funds?
  • More broadly, what does the bank tell us about local banking, i.e. before the State of Illinois allowed branch banking, banking by one institute at more than one location?

It is such donations that help us fill in the story of the Village of Glencoe.

If you have such items sitting in your attic or in a collection, the Research Center would be delighted to take the donation. Just drop it off in person at 377 or 375 Park Ave. But we’d be even more pleased if you can do what Bob Kottler did: Bring your items into the museum during open hours so we can take the whole story of its ownership and use.

The museum is open Wednesdays 10 a.m. to 3 p.m. and Sundays, 1-4 p.m.