Parliamentary reception and new book mark Airdrie Savings Bank’s 175th birthday

Mar 3 2010 by Judith Tonner, Airdrie & Coatbridge

Airdrie Savings Bank

THE 175th anniversary of Airdrie Savings Bank was marked with a reception at the Scottish Parliament.

The milestone was celebrated alongside the 200th anniversary of the savings bank movement, of which the Monklands institution is now the sole survivor.

Sixty trustees, staff members and customers attended the function at Holyrood’s garden lobby, arranged by Central Scotland list MSP Alex Neil.

Bank president Robert Boyle announced at the event that their remarkable history has now been recorded in a commemorative book. Airdrie Savings Bank – A History has been compiled by Professor Charles Munn OBE, who has written several books about financial institutions and was chief executive of the Chartered Institute of Bankers in Scotland for almost 20 years.

The 224-page illustrated hardback tells the bank’s history from its foundation in 1835.

It tells of the landmark decision not to join the regionalised TSB in the 1970s – later privatised and now taken over by Lloyds – and how the local bank has bucked the trend in the credit crunch and continued to thrive while larger institutions struggle.

General manager Jim Lindsay said: “For the bank’s 100th anniversary, a book called A Triumph of Thrift was written by James Knox but nothing had been written since then.

“We thought this was a good opportunity to do that. We’re very lucky to have had the services of Professor Munn, who spent two years researching and writing it. The new book recounts the history of the bank, going right back to day one and bringing things right up to the present day in a very readable format.

“It goes through what prompted people to start the bank, how it progressed quite slowly through the 1800s, the development of branches, the decision not to join TSB and the bank’s development in the past 20 years.

“Given what’s been happening elsewhere, most especially recently, it recounts how Airdrie Savings Bank managed to keep going during those times.

“The Holyrood reception was a wonderful occasion. It was a good opportunity to commemorate both our and the savings bank movement’s anniversaries.”

Airdrie Savings Bank’s head office is at Stirling Street in the town centre, and there are branches at Main Street in Coatbridge, Baillieston, Muirhead, Shotts, Motherwell and Bellshill.

It has prided itself on innovation over the years, such as beginning a school visit scheme nearly 80 years ago to encourage children to save, and becoming the first British bank to install online real-time computers back in 1976.

The book costs £20 and is available from branches or for £23.70 including postage and packaging online at www.airdriesavingsbank.com or by by writing to the marketing manager at 56 Stirling Street, Airdrie ML6 0AW.