The mission of Washington Savings Bank is to be a financially strong, progressive bank, serving our customers by providing quality, professional and innovative products and services they need and want, in a safe, sound manner with a friendly touch.
In 1883, a group of men got together, to establish an organization whose primary purpose was to help its members purchase homes. The first organizational meeting was held on August 27, 1883 in the German Base Ball Club and Entertaining Society Hall in Effingham. The Association charter was issued by the Illinois Secretary of State on September 4, 1883. The original name of the association was The Washington Loan and Building Association. The name was changed in 1956 to Washington Savings and Loan Association, and in 1992 the association changes its charter and became Washington Savings Bank. The association became a federally insured institution in 1958.
The founding members of the association were A.J. Worman, John George, Keyneman, F.H. Evers, Joe Merz, A. Gravenhorst, B.R. Walters, Jacob Schmitt, Henry Alt, John J. Schneider, Barney Overbeck, and J.A. Schellembach.
The associations' assets at the end of its first year of business totaled $4,703.65. As of December 31, 2011 the bank's assets are in excess of $247,234,000.00.
The association has had six presidents and/or board chairman. A. Gravenhorst served from 1883-1913, B. Mussman 1913-1930, H. Eversman 1930-1958, Wm Tolch 1958-1980, James W Tolch 1980-2001, and Claude E. Hudson 2001-present.
The association prospered during its early years, and its meeting place was the German Base Ball Club and Entertaining Society Hall located in the Register Building. It later moved to the second floor in the Opera House Block. In December 1928 it purchased land at the northwest corner of Jefferson and 5th streets and built its own office building. Due to its continued prosperity, in 1971 the association built its present office on the northeast corner of Fayette Avenue and Banker Street. The present location underwent an expansion and complete remodeling in 1999-2000. In June of 2010, the Bank purchased a branch location at 1300 North Keller Drive in Effingham, giving it two locations.
The current Board of Directors include: Rockney L. Weber, Chairman; Claude E. Hudson, President; E. Stephen Sauers; L. Dean Samuel; Paul R. Koerner and Todd A. Kabbes.
Today Washington Savings Bank is the second oldest bank in Effingham County and the largest home mortgage lender. Still true to our original charter, we earn your trust the old-fashioned way... through our personal service backed by financial strength.