Pennsylvania Railroad Employes Provident and Loan Association

The Pennsylvania Railroad Employes' Provident and Loan Association was created on July 1, 1923 to replace and enlarge the scope of the earlier Employes' Saving Fund. The Association was organized as a mutual company governed by a board of thirty-five managers, half of which were appointed by management and half by those employees holding accounts. In addition to savings accounts, the Provident and Loan Association offered its members home improvement and emergency loans and the ability to purchase additional pension coverage and PRR stock. The Provident and Loan Association remained active into the 1960s.