Savings Funds

After the BMB became established in September 1919, a number of savings funds operating in the city ceased operating by transferring their accumulated savings to the Bank.


Chief amongst these was the major scheme operating at Cadbury Brothers known as the Bournville Works Fund. This scheme was run by a Works Saving Fund and Thrift Committee who arranged for certain employees to collect deposits from fellow workers. The scheme was supported by Cadbury Brothers who, following the transfer of some 78,000 of savings to the Bank, agreed to supplement the interest paid on the deposits of the approximately 5,000 accounts.


The employees of Cadbury's who had worked the fund for many years continued to do so and remained employees of the chocolate maker. The Bank undertook to pay the costs involved that included staff costs, stationery, and the rent of the office used as a branch. That branch (known as Bournville Works) was for the exclusive use of Cadbury employees.


The other schemes that transferred to the BMB were much smaller operations and these were assimilated into existing branches.


The work in connection with the transfer of the accounts of the Birmingham Women's Settlement Fund was completed on January 30th 1920. The Fund utilised 19 persons to collect small saving from 225 savers that were transferred to Head Office (190 accounts) and Aston (35). Passbooks were issued to the 50 depositors who had saved at least 1, the remainder had their savings recorded on Savings Cards until a minimum of 1 was accumulated. The amount paid over to the Bank was 187. 13. 10.


The Birmingham Provident Collecting Bank was conducted by the Birmingham Citizens' Society. The Society had a number of collectors (probably about 76)  who visited houses to collect money and the Bank agreed to continue this system temporarily, although the collectors were not to become officers of the BMB. This system continued during 1920, with amounts saved being entered on Savings Cards until the amount saved reached 1, at which point a passbook was issued; 481 passbooks were issued to savers who reached the 1 mark.


The fund was absorbed into the BMB after the Bank's Auditors had certified the books of the Society. The Auditors' fees amounted to 31. 10. 0. and it was agreed that one-third of this amount should be borne by the Bank and two-thirds by the Society. A list of depositors was produced, but only after considerable work by the Auditors with many differences being discovered.


The amount paid over by the Provident Society totalled 1,661. 1s. 8d. in respect of 5,542 depositors. The accounts were transferred to four branches:


Head Office




Small Heath


Balsall Heath




In March 1921, the Bank's Finance & General Purposes Sub-Committee reported that a savings fund established in connection with the Stirchley Women's Meeting had been transferred to the Bank. The Lady Mayoress (Mrs W A Cadbury) had supervised the operation of the fund and promised not only to continue to do so, but agreed to add an additional percentage of interest to the depositors.


It appears that the members of the fund met at the Stirchley Meeting House each Monday afternoon. A clerk from the Bank's Head Office attended the gatherings to deal with the work, the fund members having passbooks issued by Stirchley branch.


Later in 1921, the accounts of the Birmingham Provident Society and Womens' Settlement were closed and their balance sheet was submitted to the Bank's Finance & General Purposes Sub-Committee. A deficiency amounting to 10. 7. 8. was made good by the Citizens' Committee and an indemnity was given by the Bank against any future claims. The Sub-Committee anticipated that "the Suspense Balances (59. 9. 2.) will more than cover any such claims". No clarification was given by the Sub-Committee as to the source of the amount in the Suspense Account, but it may have resulted from cash differences.