1810 - this was the first Savings Bank in
the World to open so the working class and
small businesses could start to Save with a
deposit of just sixpence.
Other Banks of the time required a deposit
of £10, with many people of that time only
earning around £5 to £20 per year.
1799 - the Rev Henry Duncan became the
Minister of Ruthwell Church. He set about
trying to help the Poor in the Parish in a
number of ways, such as creating work, and
gaining a supply of inexpensive food.
1800 - the Rev persuaded the Earl of
Mansfield to donate a derelict Cottage to store
and distribute Food to his Parishioners.
1810 - the Rev opened the first Savings Bank
in the Cottage.
He placed the deposits in the Linen Bank in
Dumfries with 5% interest, then paid his
members 4% interest on whole pounds.