The Weave

Stories and insights from the people at Investors Bank

75 Years Ago: Our First Retail Location

Investors Bank currently occupies more than 150 branches throughout New Jersey and New York, is publicly traded, and is the largest bank headquartered in New Jersey.  It is hard to believe that there was a time when we were so small we did not even have our own retail location for customers or a dedicated workspace, but such was the case for the first 16 years of our existence.

October 2017 marks the 75th anniversary of the very first time we opened a full-time location as Investors Savings and Loan Association.  The early years of our business saw our board members working from a rented or borrowed room, which opened for one or two nights per week to accept deposits from the public. However, in July of 1942, the newly-christened Investors Savings and Loan (formerly known as Washington Rock Savings and Loan) purchased the nearby Millburn Building and Loan Association and assumed ownership of their building, which was located at 62-64 Main Street in Millburn, NJ. Millburn Building and Loan purchased the property in 1927, and for a time it also housed Millburn’s post office, as seen in this postcard:

Millburn Post Office postcard

After months of renovations, our signage went up, and on October 30, 1942 our employees and customers finally had their own space to call home. The initial hours were 9 am until 3 pm Monday through Friday (talk about “banker’s hours”), with a late night scheduled once per month. The postcard below shows the building as it looked soon after we took up residence. The second floor was rented by other businesses. 

Investors Savings and Loan postcard

The public portion of the office was apparently quite narrow! The manager’s “office” is within the little door on the right.

Inside our location

The boardroom, however, looks a little more comfortable:

Boardroom

The Millburn retail location was “modernized” in 1958 which, in this author’s opinion, produced a marked loss of charm for its exterior:

1958 modernization

And here is the ultra-modern décor on the inside:

Inside 1958

This Millburn retail location was not a “branch” per se, because it also functioned as the headquarters. This would be the sole Investors office until 1945, when we became the first savings and loan in New Jersey to open a branch, which was located in Union. By 1972, Investors had outgrown this location (it still stands today as a competitor’s bank branch), and so we purchased another property nearby, where we constructed a new headquarters and retail location. Our Millburn branch is still located in that very building, today.      

 

If you'd like to learn more about Investors' history, take a look at our Historical Timeline for more details and photographs from our more than 90 years of serving our communities. 

 

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