Our Story: Since 1885
Collinsville Building & Loan Association was organized in 1885, making it Collinsville’s first financial institution. The first annual financial statement in July, 1886 showed loans in force of $8,100. By October of 1910, the Association’s assets had grown to $178,000. The depression years of the 30’s seemed to have little effect on the growth of Collinsville Building and Loan Association, and by 1933, the year the Association became a member of the Federal Home Loan Bank system, assets grew to $878,000.
On January 15, 1941, the Association was granted insurance of accounts by the Federal Savings and Loan Insurance Corporation. This insurance, along with the Association’s sound financial status, enabled CB&L to attract additional funds, and savings climbed above 3 million.
The Association spent its early years doing business from several locations in the downtown Collinsville area, primarily at 117 West Main Street. In 1969, with assets then totaling $16.7 million and needing additional space, the Association moved to its new quarters at 321 East Belt Line (now 701 Belt Line Road).
In March of 1985, Troy Savings & Homestead Association merged with the Collinsville Building & Loan Association and Troy became a branch office. The merger resulted in combined assets of $74 million. In June of 1985 Collinsville Building & Loan Association celebrated its 100th Anniversary.
Most recently, Collinsville Building & Loan Association proudly celebrated our 135th year with assets of $131 million, first mortgage loans of $93 million, and deposits of $93 million. We look forward to continued service in the years to come.