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Marquette Savings Bank: Everything You Need to Know

Marquette Savings Bank: Everything You Need to Know

Marquette Savings Bank has been the hometown bank of Erie, Pennsylvania since the early 1900s. The bank is still operating in 2011 with 12 locations in Erie and Crawford counties and employees approximately 117 employees. Marquette Savings Bank specializes in savings programs and home loans. The mission of the bank is to keep local money local by loaning to the community and investing in the community as well.

In 1908 local businessmen from the Erie area gathered together to start a bank to help their neighbors purchase houses and pay for improvements. The governor of Pennsylvania at the time, Edwin S. Stuart, approved the new bank concept for operation and the bank opened with 2 million dollars in assets. At this time Charles P. Deuser was president of the

In the beginning, Marquette Savings Bank operated limited evening hours in a few small locations on the main streets of Erie. When the first President of the bank, Deuser retired in 1920 he was replaced by John J. Mead Sr., who worked as President of the bank until 1941 when he passed away. During this period under Mead, the bank moved into an office and later a new building where the bank could be open for business daily. From there the business expanded into the building the bank still operates in to the present time. In 1941, B.A. Brugger became president of the bank and saw the bank admitted into Federal Home loan Bank system as well as the Federal Savings and Loan insurance Corporation and in 1958, the company celebrated its 50th year anniversary.

By this time the Marquette Savings Bank had $15.5 million in assets and began opening regional branches in the surrounding area beginning with Meadville, PA. In 1993 the bank changed its name from Marquette Building and Loan Association to Marquette Savings Bank. Frank L. Vogt was the president of the bank from 1960 to 2002, a long term of 42 years and was succeeded by Michael B. Edwards. In 2009, Marquette Savings Bank experienced growth by purchasing three banks once owned by National City Bank. This brought the total offices to 12.

Marquette Savings Bank builds its philosophy on the hometown touch. Not only does the company invest money in the local community but it also aim to provide the friendliest customer service getting to know customer’s name and more.

Today the bank offers many services including personal and business banking, online banking, lending, deposits, checks, direct deposit, 24 hour help line, overdraft protection, safe deposit box, ATM/Debit cards services and much more. The bank is well known for its home loans which are offered with fast answers to borrowers questions, competitive rates, fewer fees, loan officer access and assistance at all branches and choice of escrow. Homes that are for sale by the bank can also be found online on the bank’s website along with a financial calculator and disclosure information. In 2011, Marquette Savings Bank was the 48th largest bank in the state of Pennsylvania and the 903rd largest in the United States.

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