The Peoples Savings and Loan Company was established in 1892 by Reverend John R. Downer, Thomas T. Brand Sr., J.I. Blose, J.P. Hana and John Powers.
Thomas T. Brand Sr., a wounded veteran of the Civil War, served as its first president. He was the son of Joseph Carter Brand, a prominent citizen of Champaign County and Urbana who was for many years one of the most active and influential businessmen in Urbana.
The initial location of The Peoples Savings and Loan Co. is not known but its address was 111 ½ N. Main St. in 1897. In 1901, The Peoples Savings & Loan Co. was at 126 ½ N. Main St and at 209 ½ N. Main St. in 1920. In 1925 it was located at 108 N. Main St. where it remained until moving to a new bank building at 10 Monument Sq. in 1962. At this time Clement N. Trenor was president and L. Richard Kadel was vice-president and manager. This building was designed by architect Louis F. Karlsberger who also designed the Urbana Municipal Building.
The new Peoples Savings & Loan building provided the first drive-up bank teller in the county.
In 1993 the name of the bank was changed to The Peoples Savings Bank. The Peoples Savings Bank is in its 130th year of serving the community as a locally-controlled bank. At this time of Thanksgiving we are thankful for businesses such as The Peoples Savings Bank who have served our community for many years.
The Champaign County Historical Museum is a not-for-profit organization that depends upon donations and dues to preserve, protect, archive and display the artifacts that tell the Champaign County story. The free public museum located at 809 E. Lawn Ave., Urbana, is open to the public Tuesday through Friday from 10 a.m. to 4 p.m. and Saturday 10 a.m. to 2 p.m.