Fidelity Federal Savings and Loan Association 100 Years
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 1)
Description
[page 1]
[corresponds to front cover of Fidelity Federal Savings and Loan 100 Years]
[illustration of building]
Fidelity Federal
Savings and Loan Association
1887 100 years 1987
60 North Sandusky Street
Branch--30 Troy Rd., Georgetowne Centre
[corresponds to front cover of Fidelity Federal Savings and Loan 100 Years]
[illustration of building]
Fidelity Federal
Savings and Loan Association
1887 100 years 1987
60 North Sandusky Street
Branch--30 Troy Rd., Georgetowne Centre
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 2)
Description
[page 2]
[corresponds to unlabeled page 2 of Fidelity Federal Savings and Loan 100 Years]
Fidelity ....
YESTERDAY AND TODAY
1887-1987
A Commemorative History of
Fidelity Federal Savings and Loan Association
of Delaware, Ohio
Centennial Edition
by Ray Buckingham
[corresponds to unlabeled page 2 of Fidelity Federal Savings and Loan 100 Years]
Fidelity ....
YESTERDAY AND TODAY
1887-1987
A Commemorative History of
Fidelity Federal Savings and Loan Association
of Delaware, Ohio
Centennial Edition
by Ray Buckingham
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 3)
Description
[page 3]
[corresponds to unlabeled page 3 of Fidelity Federal Savings and Loan 100 Years]
DIRECTORS
Harry A. Humes, President
James L. Kern, Vice President
Lloyd D. Baker, V.P., Greif Bros.
Richard Dawson, Farmer
David C. Green, D.D.S.
C. Neilson Griffith, Retired V.P. Landmark
Edward J. Planisek Jr., Secretary-Treasurer
OFFICE STAFF
Faith Caldwell Dianne Oman
Bonnie Howard Donna Peak
M. Carolyn Jones, Cashier Edward J. Planisek, Jr.
Martha Law, Asst. Treasurer Manager
Mary Matthews Susan Rexrode
Tracie Nelson Katrina Roberts
Karen Schnees, Asst. Secretary
ASSOCIATION SERVICES
Insured Savings Accounts
Certificates of Deposit
Checking NOW Accounts
I.R.A. Accounts
Safe Deposit Boxes (Main Office)
Home Mortgage Loans
Home Improvement Loans
American Express Travelers Cheques
Money Orders
Christmas Clubs
Night Depository (Main Office)
Walk-Up Window (Main Office)
Free Parking
[corresponds to unlabeled page 3 of Fidelity Federal Savings and Loan 100 Years]
DIRECTORS
Harry A. Humes, President
James L. Kern, Vice President
Lloyd D. Baker, V.P., Greif Bros.
Richard Dawson, Farmer
David C. Green, D.D.S.
C. Neilson Griffith, Retired V.P. Landmark
Edward J. Planisek Jr., Secretary-Treasurer
OFFICE STAFF
Faith Caldwell Dianne Oman
Bonnie Howard Donna Peak
M. Carolyn Jones, Cashier Edward J. Planisek, Jr.
Martha Law, Asst. Treasurer Manager
Mary Matthews Susan Rexrode
Tracie Nelson Katrina Roberts
Karen Schnees, Asst. Secretary
ASSOCIATION SERVICES
Insured Savings Accounts
Certificates of Deposit
Checking NOW Accounts
I.R.A. Accounts
Safe Deposit Boxes (Main Office)
Home Mortgage Loans
Home Improvement Loans
American Express Travelers Cheques
Money Orders
Christmas Clubs
Night Depository (Main Office)
Walk-Up Window (Main Office)
Free Parking
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 4)
Description
[page 4]
[corresponds to unlabeled page 4 of Fidelity Federal Savings and Loan 100 Years]
IT BEGAN THIS WAY
Since the beginning of time man has sought and found
shelter for himself and his family. At first it was caves and
tents. Then he made use of whatever native materials were
available, such as sod, stones, skins and logs to fashion
living quarters. In America, since pioneer banks loaned
money only for commercial purposes, small groups of those
hardy individuals discovered that by pooling their meager re-
sources they could form a large pool from which participants
could draw by lot for home loans. Repayment of such loans
plus interest, at regular intervals, would keep the pool ac-
tive and solvent. They further reasoned that for safety's
sake, the pool's resources should be entrusted to an honest
merchant who owned, or had available, a strong safe.
Historians claim that the first society organized to
assist working men to build or buy their own homes was for-
med in Frankford, a Philadelphia suburb, in 1831. It was
called the Oxford Provident Building Society. The first $500.
saved was loaned, by lot, to Comly Read, a lamplighter. His
house, now restored, still stands on Orchard Street as a me-
morial to American thrift and ingenuity.
Once the Delaware area became well-populated there
was a need for financing home building and home purchasing.
This situation led to the formation and chartering in February
1867 of Delaware's Building Association. It was organized by
two of Delaware's leading citizens, J. D. Van Deman and
C. E. Hills, who were successful in selling the necessary
stock. This money was then auctioned off and went to bid-
ders offering to pay the highest rate of interst. So success-
ful was this operation that when their charter expired in 1874,
the Association was liquidated to everyone's satisfaction.
The Ohio Savings and Loan League has always maintained
that this Delaware Building Association was Ohio's very
first officially chartered savings and loan and honored it as
such on February 22, 1967 with a commemorative centennial
ceremony at the Delaware County Fairgrounds and a banquet
that night in Columbus.
In 1887 the Fidelity Building and Loan Company, now
known as the Fielity Federal Savings and Loan Association,
was organized. Webster defines the word FIDELITY as "care-
ful observance of duty or discharge of obligations". After
100 years of serving the home-minded people of Delaware
[corresponds to unlabeled page 4 of Fidelity Federal Savings and Loan 100 Years]
IT BEGAN THIS WAY
Since the beginning of time man has sought and found
shelter for himself and his family. At first it was caves and
tents. Then he made use of whatever native materials were
available, such as sod, stones, skins and logs to fashion
living quarters. In America, since pioneer banks loaned
money only for commercial purposes, small groups of those
hardy individuals discovered that by pooling their meager re-
sources they could form a large pool from which participants
could draw by lot for home loans. Repayment of such loans
plus interest, at regular intervals, would keep the pool ac-
tive and solvent. They further reasoned that for safety's
sake, the pool's resources should be entrusted to an honest
merchant who owned, or had available, a strong safe.
Historians claim that the first society organized to
assist working men to build or buy their own homes was for-
med in Frankford, a Philadelphia suburb, in 1831. It was
called the Oxford Provident Building Society. The first $500.
saved was loaned, by lot, to Comly Read, a lamplighter. His
house, now restored, still stands on Orchard Street as a me-
morial to American thrift and ingenuity.
Once the Delaware area became well-populated there
was a need for financing home building and home purchasing.
This situation led to the formation and chartering in February
1867 of Delaware's Building Association. It was organized by
two of Delaware's leading citizens, J. D. Van Deman and
C. E. Hills, who were successful in selling the necessary
stock. This money was then auctioned off and went to bid-
ders offering to pay the highest rate of interst. So success-
ful was this operation that when their charter expired in 1874,
the Association was liquidated to everyone's satisfaction.
The Ohio Savings and Loan League has always maintained
that this Delaware Building Association was Ohio's very
first officially chartered savings and loan and honored it as
such on February 22, 1967 with a commemorative centennial
ceremony at the Delaware County Fairgrounds and a banquet
that night in Columbus.
In 1887 the Fidelity Building and Loan Company, now
known as the Fielity Federal Savings and Loan Association,
was organized. Webster defines the word FIDELITY as "care-
ful observance of duty or discharge of obligations". After
100 years of serving the home-minded people of Delaware
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 5)
Description
[page 5]
[corresponds to unlabeled page 5 of Fidelity Federal Savings and Loan 100 Years]
City and County, it may be truthfully said that Fidelity has
lived up to the fullest meaning of its name and obligation.
This history has been compiled to help commemorate and pre-
serve those 100 years.
Incorporation papers for the Fidelity Building and Loan
Company were dated January 18, 1887, 100 years ago, and
were issued by The State of Ohio. Historically speaking,
Grover Cleveland, 22nd president of United State was mid-
way into his first term. Joseph B. Foraker was Governor of
Ohio. Delaware County had a population of 27,189 and Henri
E. Buck was Mayor of Delaware, population 8,000. Incorpor-
ators were H. J. McCullough, H. A. Welch, W. T. Gessner,
J. D. Van Deman and B. W. Brown. Company officials were:
Brown, president; May Frank, vice president; McCullough,
treasurer; Van Deman, solicitor and C. O. Little, secretary.
The board of directors, in addition to the aforementioned, in-
cluded D. H. Battenfield, W. C. Jaynes, J. H. Smith and
Professor J. H. Grove. During these early years there were
nine directors. Capital stock was set at $400,000 - 2,000
shares at $200.00 per share. Members were assessed 25?
for their passbooks. The first office was on the second floor
of the Lamb's Block, northwest corner of Winter and North
Sandusky Streets, above M. E. Wolff's Beehive Store (later
the Boston Store, David's and presently Essentials). Also,
on that second floor were other offices: Bale and Martin, In-
surance; Central Union Telephone Company; J. H. Doughman,
Attorney; and L. C. Valentine, Insurance. The directors'
meetings were held monthly but during those formative years
they seemed to meet weekly, mostly to resolve loan applica-
tions, judging from the minutes. Mr. Little, the secretary,
was paid $500.00 per year and the treasurer's annual salary
was $100.00. Office rent was $32.50 per quarter.
Check number 1 issued by Fidelity Building Associa-
tion and Loan Company is still intact though faded and tat-
tered. It was dated April 8, 1887, made out to R. W. Rey-
nolds for $100.00, signed by H. J. McCullough, treasurer,
and drawn on Deposit Banking Company. It was cashed on
April 11, 1887.
In their by-laws the Company stated its object in this
manner: "The object of the Association is to raise money to
be loaned among its members and depositors for use in buying
lots, or in building or repairing houses, in holding, improv-
ing and acquiring freehold property, or other purposes. This
[corresponds to unlabeled page 5 of Fidelity Federal Savings and Loan 100 Years]
City and County, it may be truthfully said that Fidelity has
lived up to the fullest meaning of its name and obligation.
This history has been compiled to help commemorate and pre-
serve those 100 years.
Incorporation papers for the Fidelity Building and Loan
Company were dated January 18, 1887, 100 years ago, and
were issued by The State of Ohio. Historically speaking,
Grover Cleveland, 22nd president of United State was mid-
way into his first term. Joseph B. Foraker was Governor of
Ohio. Delaware County had a population of 27,189 and Henri
E. Buck was Mayor of Delaware, population 8,000. Incorpor-
ators were H. J. McCullough, H. A. Welch, W. T. Gessner,
J. D. Van Deman and B. W. Brown. Company officials were:
Brown, president; May Frank, vice president; McCullough,
treasurer; Van Deman, solicitor and C. O. Little, secretary.
The board of directors, in addition to the aforementioned, in-
cluded D. H. Battenfield, W. C. Jaynes, J. H. Smith and
Professor J. H. Grove. During these early years there were
nine directors. Capital stock was set at $400,000 - 2,000
shares at $200.00 per share. Members were assessed 25?
for their passbooks. The first office was on the second floor
of the Lamb's Block, northwest corner of Winter and North
Sandusky Streets, above M. E. Wolff's Beehive Store (later
the Boston Store, David's and presently Essentials). Also,
on that second floor were other offices: Bale and Martin, In-
surance; Central Union Telephone Company; J. H. Doughman,
Attorney; and L. C. Valentine, Insurance. The directors'
meetings were held monthly but during those formative years
they seemed to meet weekly, mostly to resolve loan applica-
tions, judging from the minutes. Mr. Little, the secretary,
was paid $500.00 per year and the treasurer's annual salary
was $100.00. Office rent was $32.50 per quarter.
Check number 1 issued by Fidelity Building Associa-
tion and Loan Company is still intact though faded and tat-
tered. It was dated April 8, 1887, made out to R. W. Rey-
nolds for $100.00, signed by H. J. McCullough, treasurer,
and drawn on Deposit Banking Company. It was cashed on
April 11, 1887.
In their by-laws the Company stated its object in this
manner: "The object of the Association is to raise money to
be loaned among its members and depositors for use in buying
lots, or in building or repairing houses, in holding, improv-
ing and acquiring freehold property, or other purposes. This
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 6)
Description
[page 6]
[corresponds to unlabeled page 6 of Fidelity Federal Savings and Loan 100 Years]
Company is organized on the perpetual plan and persons may
become members at the beginning of any month without the
payment of back dues and shall be entitled to earnings from
the time they become members."
LEARNING YEARS
1890-1900
Capital stock was increased to one million dollars in
1890. The secretary and the treasurer were sent to Dayton
for two days to learn about a new and more efficient system,
the "Dayton Plan". Their expense account was less than
$15.00. B. W. Brown's last year as president was in 1891.
It was also C. O. Little's last year as secretary. Vice Presi-
dent Max Frank was elevated to the presidency in 1892 but
served only briefly due to a fatal illness. D. A. Battenfield
was his replacement and W. E. Moore was elected secretary.
Battenfield and J. D. Van Deman "volunteered" to "straighten
out" Association records and they were paid $125.00 for do-
ing so. Saturday evening office hours were established. In
1893 it was a very ordinary year except for an abundance of
delinquent accounts. The 1891 line-up of directors included
Battenfield (president), Van Deman, M. Miller, J. C. Cox,
R. J. Cox, F. S. Sprague, W. T. Gessner, W. A. Smith and
C. E. Hills. When J. C. Cox passed away that year, Secre-
tary Moore was elected to fill that vacancy. Rent for the
office was reduced to $80.00 per year. After flowery words,
pats on the back and handshakes all around, Secretary W. E.
Moore's salary was increased to $60.00 per month but the
solicitor's retainer fee remained unchanged at $18.75 per
quarter. Van Deman served as both president and solicitor in
1895 and again in 1896. At that time requests for loans were
exceeding available money so the officers were authorized to
borrow funds if and when it was needed. In 1897 there was
little activity other than normal day to day operation.
[corresponds to unlabeled page 6 of Fidelity Federal Savings and Loan 100 Years]
Company is organized on the perpetual plan and persons may
become members at the beginning of any month without the
payment of back dues and shall be entitled to earnings from
the time they become members."
LEARNING YEARS
1890-1900
Capital stock was increased to one million dollars in
1890. The secretary and the treasurer were sent to Dayton
for two days to learn about a new and more efficient system,
the "Dayton Plan". Their expense account was less than
$15.00. B. W. Brown's last year as president was in 1891.
It was also C. O. Little's last year as secretary. Vice Presi-
dent Max Frank was elevated to the presidency in 1892 but
served only briefly due to a fatal illness. D. A. Battenfield
was his replacement and W. E. Moore was elected secretary.
Battenfield and J. D. Van Deman "volunteered" to "straighten
out" Association records and they were paid $125.00 for do-
ing so. Saturday evening office hours were established. In
1893 it was a very ordinary year except for an abundance of
delinquent accounts. The 1891 line-up of directors included
Battenfield (president), Van Deman, M. Miller, J. C. Cox,
R. J. Cox, F. S. Sprague, W. T. Gessner, W. A. Smith and
C. E. Hills. When J. C. Cox passed away that year, Secre-
tary Moore was elected to fill that vacancy. Rent for the
office was reduced to $80.00 per year. After flowery words,
pats on the back and handshakes all around, Secretary W. E.
Moore's salary was increased to $60.00 per month but the
solicitor's retainer fee remained unchanged at $18.75 per
quarter. Van Deman served as both president and solicitor in
1895 and again in 1896. At that time requests for loans were
exceeding available money so the officers were authorized to
borrow funds if and when it was needed. In 1897 there was
little activity other than normal day to day operation.
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 7)
Description
[page 7]
[corresponds to unlabeled page 7 of Fidelity Federal Savings and Loan 100 Years]
Van Deman was still president and solictor in 1898.
By that time availability of money for loaning purposes had
improved. Ads advising the public that they had "money to
loan" were placed in The Delaware Gazette and The Delaware
Herald on a continuing basis. The same leadership and ad-
vertising campaign carried over into 1899. In a major reshuf-
fling of offices within the same building, Fidelity moved into
an office formerly used by Carper and Van Deman, attorneys.
Rent was increased to $125.00 per year. To make the office
more attractive nine new "Delaware Chairs" were purchased
for $13.50 and a new railing was installed. Eighteen acres
of Fidelity-held farm land at the north edge of town was sold
to the Children's Home Board for $1,100. The directors re-
quested and were given a listing of mortgages starting with
100 and ending with number 261 for a grand total of $148,800.
Also a request for a listing of all 122 checks written to date
was honored. The usual semi-annual dividend of 3 1/2% to
stockholders was paid. Longtime director, businessman,
Joseph C. Cox, died late in the year and was replaced by
W. H. Hague. Thus ended Fidelity's portion of 19th century
history.
FORMATIVE YEARS
1900-1910
J. D. Van Deman was president of Fidelity in 1900
and he was followed in that office by C. E. Hills (1901-1906)
and then by D. H. Battenfield (1907-1909). W. E. Moore
was managing secretary until 1903 at which time Frank Wat-
kins began his 32-year tenure in that capacity. Among the
treasurers serving during that decade were: J. D. Van Deman,
W. H. Hague and Robert Powers. Each of the following at-
torneys: C. H. McElroy, W. J. Cone and J. H. Lytle were
legal counselors for Fidelity within that time frame.
Authorized capital throughout those ten years was
$1,000,000, however, capital stock in force fluctuated
[corresponds to unlabeled page 7 of Fidelity Federal Savings and Loan 100 Years]
Van Deman was still president and solictor in 1898.
By that time availability of money for loaning purposes had
improved. Ads advising the public that they had "money to
loan" were placed in The Delaware Gazette and The Delaware
Herald on a continuing basis. The same leadership and ad-
vertising campaign carried over into 1899. In a major reshuf-
fling of offices within the same building, Fidelity moved into
an office formerly used by Carper and Van Deman, attorneys.
Rent was increased to $125.00 per year. To make the office
more attractive nine new "Delaware Chairs" were purchased
for $13.50 and a new railing was installed. Eighteen acres
of Fidelity-held farm land at the north edge of town was sold
to the Children's Home Board for $1,100. The directors re-
quested and were given a listing of mortgages starting with
100 and ending with number 261 for a grand total of $148,800.
Also a request for a listing of all 122 checks written to date
was honored. The usual semi-annual dividend of 3 1/2% to
stockholders was paid. Longtime director, businessman,
Joseph C. Cox, died late in the year and was replaced by
W. H. Hague. Thus ended Fidelity's portion of 19th century
history.
FORMATIVE YEARS
1900-1910
J. D. Van Deman was president of Fidelity in 1900
and he was followed in that office by C. E. Hills (1901-1906)
and then by D. H. Battenfield (1907-1909). W. E. Moore
was managing secretary until 1903 at which time Frank Wat-
kins began his 32-year tenure in that capacity. Among the
treasurers serving during that decade were: J. D. Van Deman,
W. H. Hague and Robert Powers. Each of the following at-
torneys: C. H. McElroy, W. J. Cone and J. H. Lytle were
legal counselors for Fidelity within that time frame.
Authorized capital throughout those ten years was
$1,000,000, however, capital stock in force fluctuated
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 8)
Description
[page 8]
[corresponds to unlabeled page 8 of Fidelity Federal Savings and Loan 100 Years]
from $237,000 in 1906 to $225,000 in 1908. In 1900 the
total amount paid in salaries was under $800. By 1909 this
figure had increased to only $1,075. During those 10 years
borrowing members increased in number from 100 plus to 200
plus; non-borrowing members held steady at approximately
140 while non-borrowing depositors jumped from a mere hand-
ful in 1900 to nearly 300 in 1909. Loans were made at 6%;
dividends held steady at 5%; and interest on deposits rated
4% and 5% during all ten years.
(Since no minutes were available for this period, all facts
and figures mentioned here were compiled from reports re-
quired by and published by the State of Ohio.)
A PERIOD OF STEADY GROWTH
1910-1920
Perhaps the most significant event of this ten-year
period happened when, in 1911, the building at 46 North
Sandusky Street was purchased for an office site at a price
of $7,350. At that time it was occupied by C. D. Young,
Jeweler, along with several rented upstairs offices. The
following year, 1912, Fidelity, now well-established in the
community, moved into its newly-acquired property. There
it remained for the next 65 years.
For all of these ten years D. H. Battenfield was pre-
sident; Frank S. Watkins was secretary and manager and Rob-
ert Powers was treasurer. James Lytle served as Fidelity's
attorney from 1910 to 1914, at which time it became a joint
position with Harry W. Crist. Assets grew from $270,590
to $977,947. Capital stock subscribed and in force went
from $539,600 to $1,226,075. Officer's and employee's
salaries rose gradually from $1,076 in 1910 to $3,265 in
1919. During each of these ten years, interest charged for
loans was 6%; dividends were paid at 5% and interest on sav-
ings accounts stayed constant at 4% and 5%. For the three
years 1910-11-12 borrowing members numbered 225-233-257;
[corresponds to unlabeled page 8 of Fidelity Federal Savings and Loan 100 Years]
from $237,000 in 1906 to $225,000 in 1908. In 1900 the
total amount paid in salaries was under $800. By 1909 this
figure had increased to only $1,075. During those 10 years
borrowing members increased in number from 100 plus to 200
plus; non-borrowing members held steady at approximately
140 while non-borrowing depositors jumped from a mere hand-
ful in 1900 to nearly 300 in 1909. Loans were made at 6%;
dividends held steady at 5%; and interest on deposits rated
4% and 5% during all ten years.
(Since no minutes were available for this period, all facts
and figures mentioned here were compiled from reports re-
quired by and published by the State of Ohio.)
A PERIOD OF STEADY GROWTH
1910-1920
Perhaps the most significant event of this ten-year
period happened when, in 1911, the building at 46 North
Sandusky Street was purchased for an office site at a price
of $7,350. At that time it was occupied by C. D. Young,
Jeweler, along with several rented upstairs offices. The
following year, 1912, Fidelity, now well-established in the
community, moved into its newly-acquired property. There
it remained for the next 65 years.
For all of these ten years D. H. Battenfield was pre-
sident; Frank S. Watkins was secretary and manager and Rob-
ert Powers was treasurer. James Lytle served as Fidelity's
attorney from 1910 to 1914, at which time it became a joint
position with Harry W. Crist. Assets grew from $270,590
to $977,947. Capital stock subscribed and in force went
from $539,600 to $1,226,075. Officer's and employee's
salaries rose gradually from $1,076 in 1910 to $3,265 in
1919. During each of these ten years, interest charged for
loans was 6%; dividends were paid at 5% and interest on sav-
ings accounts stayed constant at 4% and 5%. For the three
years 1910-11-12 borrowing members numbered 225-233-257;
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 9)
Description
[page 9]
[corresponds to unlabeled page 9 of Fidelity Federal Savings and Loan 100 Years]
non-borrowing members added up to 137-135-147 and non-
borrowing depositors totaled 373-473-613. Starting with
1913 those reporting categories were changed to: stock-
holders, borrowers and depositors. The number of stock-
holders increased from 426 in 1913 to 582 in 1917, then
dropped to 502 by 1919. Borrowers in 1913 totaled 286,
increasing to 416 in 1917 before leveling off at 379 in
1919. Depositors totaled 723 in 1913 and reached 2,344
in 1917 before dropping to 1,470 in 1919. Fidelity's au-
thorized stock was increased from $1,000,000 to $2,000,000
in 1915. Par value of stock was $200.00 per share.
Even though World War I had a negative effect on
the building and loan business during its course, Fidelity
was able to cope with those problems and to maintain a
strong financial position. Besides, true to the spirit of
the times, generous donations were made to many agencies
supporting the war effort.
PRE-DEPRESSION YEARS
1920-1930
Frank Watkins was secretary and manager for the en-
tire decade, while Robert Powers served as treasurer the
most of that time. The president from 1920 through 1925 was
D. w. Battenfield and he was followed by Eugene Nash. The
year 1920 through 1923 James Lytle and Harry Crist served
jointly as Fidelity's attorneys, but in 1924 Crist was given
sole responsibility for that important function. Over this ten-
year period assets rose modestly from $1,303,350 to the sum
of $1,533,623, a situation somewhat tempered by conditions
that were leading to the stock market crash of 1929.
During this time-period the number of stockholders
varied from just less than 500 to slightly more than 600; the
number of borrowers rose from approximately 400 to just over
500 and the number of depositors increased from 1,560 in
1920 to a high of 4,040 in 1929. The annual payroll ranged
from less than $4,000 in 1920 to less than $6,000 in 1929,
the year of the crash. Stock sold for $200 per share and the
authorized capital for those ten years was $2,000,000. Both
[corresponds to unlabeled page 9 of Fidelity Federal Savings and Loan 100 Years]
non-borrowing members added up to 137-135-147 and non-
borrowing depositors totaled 373-473-613. Starting with
1913 those reporting categories were changed to: stock-
holders, borrowers and depositors. The number of stock-
holders increased from 426 in 1913 to 582 in 1917, then
dropped to 502 by 1919. Borrowers in 1913 totaled 286,
increasing to 416 in 1917 before leveling off at 379 in
1919. Depositors totaled 723 in 1913 and reached 2,344
in 1917 before dropping to 1,470 in 1919. Fidelity's au-
thorized stock was increased from $1,000,000 to $2,000,000
in 1915. Par value of stock was $200.00 per share.
Even though World War I had a negative effect on
the building and loan business during its course, Fidelity
was able to cope with those problems and to maintain a
strong financial position. Besides, true to the spirit of
the times, generous donations were made to many agencies
supporting the war effort.
PRE-DEPRESSION YEARS
1920-1930
Frank Watkins was secretary and manager for the en-
tire decade, while Robert Powers served as treasurer the
most of that time. The president from 1920 through 1925 was
D. w. Battenfield and he was followed by Eugene Nash. The
year 1920 through 1923 James Lytle and Harry Crist served
jointly as Fidelity's attorneys, but in 1924 Crist was given
sole responsibility for that important function. Over this ten-
year period assets rose modestly from $1,303,350 to the sum
of $1,533,623, a situation somewhat tempered by conditions
that were leading to the stock market crash of 1929.
During this time-period the number of stockholders
varied from just less than 500 to slightly more than 600; the
number of borrowers rose from approximately 400 to just over
500 and the number of depositors increased from 1,560 in
1920 to a high of 4,040 in 1929. The annual payroll ranged
from less than $4,000 in 1920 to less than $6,000 in 1929,
the year of the crash. Stock sold for $200 per share and the
authorized capital for those ten years was $2,000,000. Both
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 10)
Description
[page 10]
[corresponds to unlabeled page 10 of Fidelity Federal Savings and Loan 100 Years]
dividend and interest rates on deposits were at the 4% or 5%
level. The interest rate charged for loans was a consistant
6% throughout this decade. Available records show that in
1920 a donation of $50 was made to the Commercial Club, a
group dedicated to the improvement of Delaware. The follow-
ing year, 1921, a donation of $200 was made to Delaware's
YMCA, thus indicating Fidelity's willingness to enter into
community activities. Both Ray Hinkle and Questa Williams
started their long-lasting careers with Fidelity in 1927, he
as cashier and she as bookkeeper.
(Fidelity was operating under Ohio rules and regulations all
during the 1920s and it was from annual reports made to the
State that most of the preceding information was compiled).
TROUBLED TIMES
1930-1935
By now the Great Depression was an over-riding fac-
tor affecting all types of businesses. Fortunately, Fidelity,
through sound management practices, was able to weather the
storm and continue to operate. In those last hectic years
prior to Fidelity becoming "federalized" things looked like
this, according to reports made to the State of Ohio.
The management team of Frank Watkins, secretary
and manager; Eugene Nash, president; and Harry Crist, the
attorney, remained intact from 1930 to 1934. Then, at that
time, Ray Hinkle was promoted to managing secretary and
Harry Crist became both president and attorney.
Fidelity's assets in 1930 were listed at $1,473,091
and by 1934 they were down to $877,337, thus reflecting the
times. Stockholders numbered 614 in 1930 and dropped to
512 in 1935. Borrowers totaled 503 in 1930 but fell to 313 in
1934. Probably the most startling statistic revealing those
troubled times was in the number of depositors - 3,761 in
1930 and 812 in 1934. It was likewise with dividends, the
traditional 5% dropped to 1% by 1934. In working out details
for a federal charter, government authorities suggested that
dividends be eliminated for one year in order to "shore up"
reserve funds. So, it was in this atmosphere that Fidelity
decided to make the change from State to Federal charter.
[corresponds to unlabeled page 10 of Fidelity Federal Savings and Loan 100 Years]
dividend and interest rates on deposits were at the 4% or 5%
level. The interest rate charged for loans was a consistant
6% throughout this decade. Available records show that in
1920 a donation of $50 was made to the Commercial Club, a
group dedicated to the improvement of Delaware. The follow-
ing year, 1921, a donation of $200 was made to Delaware's
YMCA, thus indicating Fidelity's willingness to enter into
community activities. Both Ray Hinkle and Questa Williams
started their long-lasting careers with Fidelity in 1927, he
as cashier and she as bookkeeper.
(Fidelity was operating under Ohio rules and regulations all
during the 1920s and it was from annual reports made to the
State that most of the preceding information was compiled).
TROUBLED TIMES
1930-1935
By now the Great Depression was an over-riding fac-
tor affecting all types of businesses. Fortunately, Fidelity,
through sound management practices, was able to weather the
storm and continue to operate. In those last hectic years
prior to Fidelity becoming "federalized" things looked like
this, according to reports made to the State of Ohio.
The management team of Frank Watkins, secretary
and manager; Eugene Nash, president; and Harry Crist, the
attorney, remained intact from 1930 to 1934. Then, at that
time, Ray Hinkle was promoted to managing secretary and
Harry Crist became both president and attorney.
Fidelity's assets in 1930 were listed at $1,473,091
and by 1934 they were down to $877,337, thus reflecting the
times. Stockholders numbered 614 in 1930 and dropped to
512 in 1935. Borrowers totaled 503 in 1930 but fell to 313 in
1934. Probably the most startling statistic revealing those
troubled times was in the number of depositors - 3,761 in
1930 and 812 in 1934. It was likewise with dividends, the
traditional 5% dropped to 1% by 1934. In working out details
for a federal charter, government authorities suggested that
dividends be eliminated for one year in order to "shore up"
reserve funds. So, it was in this atmosphere that Fidelity
decided to make the change from State to Federal charter.
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 11)
Description
[page 11]
[corresponds to unlabeled page 11 of Fidelity Federal Savings and Loan 100 Years]
A NEW BEGINNING
1935-1939
After operating under rules and regulations of a state
charter for 50 years, the Association was granted a federal
charter, number 1,075, dated December 30, 1935. It was for-
merly accepted on January 15, 1936 and became effective on
February 1, 1936. The Association underwent a name change,
becoming the Fidelity Federal Savings and Loan Association.
That change came easily. But, in order to comply with de-
tailed federal requirements, a new constitution with new rules
and regulations had to be written and adopted by the Associ-
ation officials. That was no small task. Directors partici-
pating were: Harry Crist, Charles Denison, Ray Hinkle,
G. K. Hoffman, Eugene Nash, Hosea Warren and Fred Good-
ing. Crist served both as president and attorney. Frank Wat-
kinds, secretary-manager, was deeply involved in charter ne-
gotiations but he resigned as of December 30, 1935 so it was
necessary for his successor, Ray Hinkle, to start operating
under federal guidelines.
At that time, 50 years ago, the secretary-manager's
salary was $2,400 per year and the cashier's was $1,200.
The president was paid an annual salary of $240.00 and the
Association attorney received $100.00 annually. Directors
were paid $5.00 per meeting attended. Janitor service was
provided at $5.00 per week. Appraisers, always from direc-
tor's ranks, were paid $1.00 for in-town and $2.50 for rural
appraisals. Interest paid on savings accounts was 2 1/2%
per annum while borrowers were charged 4% to 5% depending
on the amount of the loan. Assets at the beginnign of this
first year (1936) under federal charter totaled $742,875 and
at the end, $778,003. There were 36 delinquent accounts
reported with a total of $4,895.11.
No evidence was found to indicate a formal celebra-
tion for Fidelity's 50th anniversary. However, a large ad-
vertisement announcing this fact appeared in The Delaware
Gazette on the exact anniversary date, January 18, 1937.
The ad proudly proclaimed such things as: Half a Century of
Community Service"; "Protecting Funds of Thrifty Folks - -
Helping Tenants Become Home Owners"; and "Always Secured
- Now Insured" plus the fact that the "Average Yield to its
Investors Through These Years is Over 4 1/2%".
[corresponds to unlabeled page 11 of Fidelity Federal Savings and Loan 100 Years]
A NEW BEGINNING
1935-1939
After operating under rules and regulations of a state
charter for 50 years, the Association was granted a federal
charter, number 1,075, dated December 30, 1935. It was for-
merly accepted on January 15, 1936 and became effective on
February 1, 1936. The Association underwent a name change,
becoming the Fidelity Federal Savings and Loan Association.
That change came easily. But, in order to comply with de-
tailed federal requirements, a new constitution with new rules
and regulations had to be written and adopted by the Associ-
ation officials. That was no small task. Directors partici-
pating were: Harry Crist, Charles Denison, Ray Hinkle,
G. K. Hoffman, Eugene Nash, Hosea Warren and Fred Good-
ing. Crist served both as president and attorney. Frank Wat-
kinds, secretary-manager, was deeply involved in charter ne-
gotiations but he resigned as of December 30, 1935 so it was
necessary for his successor, Ray Hinkle, to start operating
under federal guidelines.
At that time, 50 years ago, the secretary-manager's
salary was $2,400 per year and the cashier's was $1,200.
The president was paid an annual salary of $240.00 and the
Association attorney received $100.00 annually. Directors
were paid $5.00 per meeting attended. Janitor service was
provided at $5.00 per week. Appraisers, always from direc-
tor's ranks, were paid $1.00 for in-town and $2.50 for rural
appraisals. Interest paid on savings accounts was 2 1/2%
per annum while borrowers were charged 4% to 5% depending
on the amount of the loan. Assets at the beginnign of this
first year (1936) under federal charter totaled $742,875 and
at the end, $778,003. There were 36 delinquent accounts
reported with a total of $4,895.11.
No evidence was found to indicate a formal celebra-
tion for Fidelity's 50th anniversary. However, a large ad-
vertisement announcing this fact appeared in The Delaware
Gazette on the exact anniversary date, January 18, 1937.
The ad proudly proclaimed such things as: Half a Century of
Community Service"; "Protecting Funds of Thrifty Folks - -
Helping Tenants Become Home Owners"; and "Always Secured
- Now Insured" plus the fact that the "Average Yield to its
Investors Through These Years is Over 4 1/2%".
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 12)
Description
[page 12]
[corresponds to unlabeled page 12 of Fidelity Federal Savings and Loan 100 Years]
Lingering effects of the Great Depression were still
disturbing normal business activity. At one point the board
realized they had too many low-yielding investments and so
they took steps to correct that situation. Another concern
was the fact that four institutions with whom they did busi-
ness were being liquidated. Slow business conditions promp-
ted the directors to adopt the following resolution on August
30, 1936: "Resolved, that the bank (First National Bank) be
advised that there is but little real estate changing ownership
in Delaware City or County and that there is practically no
new construction of homes, therefore the Association has
been unable to make but few desirable mortgage loans."
Even Federal Home Loan Bank officials were edgy. They crit-
ized Fidelity for not being more aggresive in acquiring mort-
gage loans. Since caution had brought them this far, Fidelity
officials were not about to shed that trademark.
Things remained static during the 1936-39 era. There
were no changes in personnel or in salaries. Loans were of
the three or four figure variety. Interest paid and interest
received percentages changed very little. Repayment of the
loans was at the $5.00 to $20.00 monthly level. The treas-
urer's job was turned over to the secretary. Since the Asso-
ciation owned a number of properties and a few farms, keep-
ing them in good repair was an ongoing task. Farm land in
which Fidelity had an interest was selling for about $60.00
an acre. By the end of 1939 the number of delinquent ac-
counts was down to 10 and the assets were at $616,754.82.
Even though the volume of business was down, Fidelity, as
always, was able to maintain its strength and reliability.
[corresponds to unlabeled page 12 of Fidelity Federal Savings and Loan 100 Years]
Lingering effects of the Great Depression were still
disturbing normal business activity. At one point the board
realized they had too many low-yielding investments and so
they took steps to correct that situation. Another concern
was the fact that four institutions with whom they did busi-
ness were being liquidated. Slow business conditions promp-
ted the directors to adopt the following resolution on August
30, 1936: "Resolved, that the bank (First National Bank) be
advised that there is but little real estate changing ownership
in Delaware City or County and that there is practically no
new construction of homes, therefore the Association has
been unable to make but few desirable mortgage loans."
Even Federal Home Loan Bank officials were edgy. They crit-
ized Fidelity for not being more aggresive in acquiring mort-
gage loans. Since caution had brought them this far, Fidelity
officials were not about to shed that trademark.
Things remained static during the 1936-39 era. There
were no changes in personnel or in salaries. Loans were of
the three or four figure variety. Interest paid and interest
received percentages changed very little. Repayment of the
loans was at the $5.00 to $20.00 monthly level. The treas-
urer's job was turned over to the secretary. Since the Asso-
ciation owned a number of properties and a few farms, keep-
ing them in good repair was an ongoing task. Farm land in
which Fidelity had an interest was selling for about $60.00
an acre. By the end of 1939 the number of delinquent ac-
counts was down to 10 and the assets were at $616,754.82.
Even though the volume of business was down, Fidelity, as
always, was able to maintain its strength and reliability.
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 13)
Description
[page 13]
[corresponds to unlabeled page 13 of Fidelity Federal Savings and Loan 100 Years]
WORLD WAR II AND AFTER YEARS
1940-1950
The 1940s were difficult years because of WWII and
the aftermath. However, through careful management, Fidel-
ity was able to surmount these difficulties and to maintain a
pattern of growth, not spectacular, but consistent. Direc-
tors in 1940 were Harry W. Crist (president and counsel) Ray
Hinkle (secretary and manager), Charles Denison, Fred Good-
ing, George K. Hoffman, Eugene Nash and Hosea Warren.
Nash passed away in 1941 after serving 30 years. He
was not replaced. Instead the board membership was kept at
six. When Warren died in 1944, after being a director for 30
years, he was succeeded by Will McElfresh. Then in 1945
president and attorney Crist died after 25 years with Fidelity.
Denison moved into the presidency. A. L. Everitt became a
director, while Edson Williams and James Blair followed as
Association attorneys. Because of poor health, Fred Gooding
director for 16 years, resigned. R. M. Martin succeeded
him. J. C. Wirthman was made a director in 1947, thus the
board membership returned to seven. Directors were paid
$5.00 per meetings attended until 1947 when it was doubled.
Those directors who served as appraisers were paid $1.00
for local and $2.50 for rural appraisals all this decade.
Throughout the decade presidents were paid $360.00
annually and attorneys received a $100.00 annual retainer
fee. Crist, who doubled in both offices, accepted the pre-
sident's pay but refused the retainer fee. President Denison,
at his own request, served without salary. During this ten
years there were but two employees, secretary-manager Ray
Hinkle and cashier, Questa Williams. The secretary's sal-
ary was $2,400 per year until 1949 when it was $2,880. He
was also paid a car allowance. In 1949 the cashier's salary
was raised from $1,200 to $1,620. Joe Mayer served as cus-
todian at $5.00 per week.
It is interesting to note that president Denison's first
action was to call a special meeting on September 4, 1945
for the express purpose of discussing ways and means of im-
proving business. Among the suggestions were such things
as better office lighting; an advertising campaign; a new sign
and the remodeling of the entire office. Also suggested were
[corresponds to unlabeled page 13 of Fidelity Federal Savings and Loan 100 Years]
WORLD WAR II AND AFTER YEARS
1940-1950
The 1940s were difficult years because of WWII and
the aftermath. However, through careful management, Fidel-
ity was able to surmount these difficulties and to maintain a
pattern of growth, not spectacular, but consistent. Direc-
tors in 1940 were Harry W. Crist (president and counsel) Ray
Hinkle (secretary and manager), Charles Denison, Fred Good-
ing, George K. Hoffman, Eugene Nash and Hosea Warren.
Nash passed away in 1941 after serving 30 years. He
was not replaced. Instead the board membership was kept at
six. When Warren died in 1944, after being a director for 30
years, he was succeeded by Will McElfresh. Then in 1945
president and attorney Crist died after 25 years with Fidelity.
Denison moved into the presidency. A. L. Everitt became a
director, while Edson Williams and James Blair followed as
Association attorneys. Because of poor health, Fred Gooding
director for 16 years, resigned. R. M. Martin succeeded
him. J. C. Wirthman was made a director in 1947, thus the
board membership returned to seven. Directors were paid
$5.00 per meetings attended until 1947 when it was doubled.
Those directors who served as appraisers were paid $1.00
for local and $2.50 for rural appraisals all this decade.
Throughout the decade presidents were paid $360.00
annually and attorneys received a $100.00 annual retainer
fee. Crist, who doubled in both offices, accepted the pre-
sident's pay but refused the retainer fee. President Denison,
at his own request, served without salary. During this ten
years there were but two employees, secretary-manager Ray
Hinkle and cashier, Questa Williams. The secretary's sal-
ary was $2,400 per year until 1949 when it was $2,880. He
was also paid a car allowance. In 1949 the cashier's salary
was raised from $1,200 to $1,620. Joe Mayer served as cus-
todian at $5.00 per week.
It is interesting to note that president Denison's first
action was to call a special meeting on September 4, 1945
for the express purpose of discussing ways and means of im-
proving business. Among the suggestions were such things
as better office lighting; an advertising campaign; a new sign
and the remodeling of the entire office. Also suggested were
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 14)
Description
[page 14]
[corresponds to unlabeled page 14 of Fidelity Federal Savings and Loan 100 Years]
visitations by board members to other savings and loan offices
to study and observe their techniques. All of these ideas
were eventually implemented and evidently worked because
Fidelity's assets nearly doubled from 1945 to 1949.
With but a few exceptions loans were in the 5-figure
class and were made at 4% to 6%, depending on the amount
borrowed. Interest was paid semi-annually and ranged from
2 1/2% down to a low of 1 1/2 as paid in 1949. That was
the year Fidelity qualified to make FHA insured loans. At the
outset, 1940, assets were $616,754.82 and at the end of
1949 they were up to well over a million dollars.
On November 21, 1949 there was a full-page adver-
tisement in The Delaware Gazette hailing Fidelity's 62nd
Anniversary. It featured such things as individual pictures
of all officers and directors; the safety record of its opera-
tion; and the fact that they had plenty of money for borrow-
ing purposes. In this same issue, on the front page, there
was a news story announcing the fact that Delaware's only
other savings and loan association was going out of business.
Thus alertness was added to Fidelity's time-honored reputa-
tion for caution and safety.
A DECADE OF NORMALCY
1950-1960
The 1950s saw a decided increase in building, loan-
ing and saving activity, with each year showing a substan-
tial gain in dollars and customers. Both GI and FHA loans
were on the upswing. For a short time there was no charge
for appraisals, sort of a "special". Practically all loans
were at the four and five figure level, carrying a rate of 5%-
6%, according to the amount of the loan involved. Interest
being paid to savers varied from 2% to 3%.
While appraisals started in the 1950s at no charge,
that advantage was soon replaced by a $2.00 local and a
$3.00 rural fee. By 1959 this charge was up to $10.00 flat,
plus the legal fee. During these ten years the secretary-
treasurer's salary increased from $3,180 to $6,300. His car
allowance was increased from $50.00 to $70.00 a month.
[corresponds to unlabeled page 14 of Fidelity Federal Savings and Loan 100 Years]
visitations by board members to other savings and loan offices
to study and observe their techniques. All of these ideas
were eventually implemented and evidently worked because
Fidelity's assets nearly doubled from 1945 to 1949.
With but a few exceptions loans were in the 5-figure
class and were made at 4% to 6%, depending on the amount
borrowed. Interest was paid semi-annually and ranged from
2 1/2% down to a low of 1 1/2 as paid in 1949. That was
the year Fidelity qualified to make FHA insured loans. At the
outset, 1940, assets were $616,754.82 and at the end of
1949 they were up to well over a million dollars.
On November 21, 1949 there was a full-page adver-
tisement in The Delaware Gazette hailing Fidelity's 62nd
Anniversary. It featured such things as individual pictures
of all officers and directors; the safety record of its opera-
tion; and the fact that they had plenty of money for borrow-
ing purposes. In this same issue, on the front page, there
was a news story announcing the fact that Delaware's only
other savings and loan association was going out of business.
Thus alertness was added to Fidelity's time-honored reputa-
tion for caution and safety.
A DECADE OF NORMALCY
1950-1960
The 1950s saw a decided increase in building, loan-
ing and saving activity, with each year showing a substan-
tial gain in dollars and customers. Both GI and FHA loans
were on the upswing. For a short time there was no charge
for appraisals, sort of a "special". Practically all loans
were at the four and five figure level, carrying a rate of 5%-
6%, according to the amount of the loan involved. Interest
being paid to savers varied from 2% to 3%.
While appraisals started in the 1950s at no charge,
that advantage was soon replaced by a $2.00 local and a
$3.00 rural fee. By 1959 this charge was up to $10.00 flat,
plus the legal fee. During these ten years the secretary-
treasurer's salary increased from $3,180 to $6,300. His car
allowance was increased from $50.00 to $70.00 a month.
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 15)
Description
[page 15]
[corresponds to unlabeled page 15 of Fidelity Federal Savings and Loan 100 Years]
Likewise the cashier's salary was raised from $1,920 in 1950
to $3,600 in 1959. Both of these employees were given an-
nual bonuses based on the year's business. For a short time
directors received $10.00 per meeting attended but by 1956
that figure had increased to $35.00 for each meeting. The
Association's legal counsel was paid a small retainer fee
throughout these ten years.
During practically all of the 1950s there were but
two full-time employees: Ray Hinkle, secretary-treasurer,
and Questa Williams, cashier. James Blair, Association
Counsel, served all but a brief time during which time
Henry Wolf acted in that capacity. Thomas Wright was em-
ployed as a bookkeeper late in 1958 and then in 1959 he was
made assistant cashier. Charles Denison, who had served
as a director for 29 years and as president since 1945, died
in August, 1958. He was succeeded as president by Will
McElfresh and as director by Harry A. Humes. During his
11-year presidency he refused any salary except that for be-
ing a director. J. C. Wirthman, who had served several of
these years as a director, resigned that post effective Dec-
ember 31, 1959.
Fidelity's officials were always on the alert. When
certain aspects of income tax laws seemed detrimental to
savings and loans, they contacted Senators Taft and Bricker
for favorable action. Then, when other savings and loans
applied for federal charters to operate in the Delaware area,
Director J. C. Wirthman was sent to Washington D.C. to
protest. Later Association Counsel, James Blair, was sent
there to further lobby against such chartering, the gist of
their protest being that Delaware's building and loan needs
already were being adequately met.
Upon its organization in the early 1950s, The Dela-
ware County Bank was added to the list of official depositor-
ies that included the First National Bank and the Federal
Home Loan Bank. Selecting depositories was an annual task
of the directors. Although not as frequent as in the 1940s,
requests for loan repayment adjustments continued to demand
director attention and action.
The two rear upstairs rooms were renovated and then
rented to the Henry Wolf law firm. The front room was leased
to the Democratic Party Headquarters. In 1956 air condition-
ing was authorized for the first floor offices. Also, Saturday
[corresponds to unlabeled page 15 of Fidelity Federal Savings and Loan 100 Years]
Likewise the cashier's salary was raised from $1,920 in 1950
to $3,600 in 1959. Both of these employees were given an-
nual bonuses based on the year's business. For a short time
directors received $10.00 per meeting attended but by 1956
that figure had increased to $35.00 for each meeting. The
Association's legal counsel was paid a small retainer fee
throughout these ten years.
During practically all of the 1950s there were but
two full-time employees: Ray Hinkle, secretary-treasurer,
and Questa Williams, cashier. James Blair, Association
Counsel, served all but a brief time during which time
Henry Wolf acted in that capacity. Thomas Wright was em-
ployed as a bookkeeper late in 1958 and then in 1959 he was
made assistant cashier. Charles Denison, who had served
as a director for 29 years and as president since 1945, died
in August, 1958. He was succeeded as president by Will
McElfresh and as director by Harry A. Humes. During his
11-year presidency he refused any salary except that for be-
ing a director. J. C. Wirthman, who had served several of
these years as a director, resigned that post effective Dec-
ember 31, 1959.
Fidelity's officials were always on the alert. When
certain aspects of income tax laws seemed detrimental to
savings and loans, they contacted Senators Taft and Bricker
for favorable action. Then, when other savings and loans
applied for federal charters to operate in the Delaware area,
Director J. C. Wirthman was sent to Washington D.C. to
protest. Later Association Counsel, James Blair, was sent
there to further lobby against such chartering, the gist of
their protest being that Delaware's building and loan needs
already were being adequately met.
Upon its organization in the early 1950s, The Dela-
ware County Bank was added to the list of official depositor-
ies that included the First National Bank and the Federal
Home Loan Bank. Selecting depositories was an annual task
of the directors. Although not as frequent as in the 1940s,
requests for loan repayment adjustments continued to demand
director attention and action.
The two rear upstairs rooms were renovated and then
rented to the Henry Wolf law firm. The front room was leased
to the Democratic Party Headquarters. In 1956 air condition-
ing was authorized for the first floor offices. Also, Saturday
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 16)
Description
[page 16]
[corresponds to unlabeled page 16 of Fidelity Federal Savings and Loan 100 Years]
afternoon office hours were replaced by staying open on Fri-
day nights. By the end of 1959 assets were listed at nearly
two million dollars. That's about how things stood in the
1950s.
THE SIXTIES -- YEAR AFTER YEAR
1960-1970
At the beginnign of the 1960s decade, Fidelity's as-
sets were nearing two million dollars. Leslie Burkhart was
named a director, serving with Will McElfresh, A. L. Everitt,
Ray Hinkle, George K. Hoffman, R. M. Martin and Harry
Humes. Money orders were added to services available.
Loans were being made at 6% and 6 1/2% according to the
amount involved. In anticipation of the upcoming 75th anni-
versary celebration, $8,000 was allotted for new counters,
modernizing the front and installing a new heating system.
Patricia Miller was employed as a teller. Changes were com-
ing so fast that board meetings were not adjourned - just re-
cessed. Ray Hinkle retired as secretary-treasurer but stayed
on as a director. James C. Blackledge became the secretary-
treasurer in 1961 following Hinkle's departure. Because of
his health, Geroge K. Hoffman, longtime director, resigned
in 1962 and Blackledge was named to that vacancy.
In mid-January 1962, fifty years after moving from the
Lamb's Block building to its newly purchased facility at 46
North Sandusky Street, Fidelity observed its 75th anniversary
with a three day Open House. Directors' wives were present
to greet visitors and to serve refreshments. For celebrating
this milestone the facility had been given a new look. Will
McElfresh was Association president; James C. Blackledge
was secretary-treasurer; Questa Williams was cashier; Kath-
ryn McGovern was teller (having just replaced Patricia Mil-
ler) and James Blair was general counsel. At this time the
[corresponds to unlabeled page 16 of Fidelity Federal Savings and Loan 100 Years]
afternoon office hours were replaced by staying open on Fri-
day nights. By the end of 1959 assets were listed at nearly
two million dollars. That's about how things stood in the
1950s.
THE SIXTIES -- YEAR AFTER YEAR
1960-1970
At the beginnign of the 1960s decade, Fidelity's as-
sets were nearing two million dollars. Leslie Burkhart was
named a director, serving with Will McElfresh, A. L. Everitt,
Ray Hinkle, George K. Hoffman, R. M. Martin and Harry
Humes. Money orders were added to services available.
Loans were being made at 6% and 6 1/2% according to the
amount involved. In anticipation of the upcoming 75th anni-
versary celebration, $8,000 was allotted for new counters,
modernizing the front and installing a new heating system.
Patricia Miller was employed as a teller. Changes were com-
ing so fast that board meetings were not adjourned - just re-
cessed. Ray Hinkle retired as secretary-treasurer but stayed
on as a director. James C. Blackledge became the secretary-
treasurer in 1961 following Hinkle's departure. Because of
his health, Geroge K. Hoffman, longtime director, resigned
in 1962 and Blackledge was named to that vacancy.
In mid-January 1962, fifty years after moving from the
Lamb's Block building to its newly purchased facility at 46
North Sandusky Street, Fidelity observed its 75th anniversary
with a three day Open House. Directors' wives were present
to greet visitors and to serve refreshments. For celebrating
this milestone the facility had been given a new look. Will
McElfresh was Association president; James C. Blackledge
was secretary-treasurer; Questa Williams was cashier; Kath-
ryn McGovern was teller (having just replaced Patricia Mil-
ler) and James Blair was general counsel. At this time the
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 17)
Description
[page 17]
[corresponds to unlabeled page 17 of Fidelity Federal Savings and Loan 100 Years]
Association had a membership of 1,300 investors (savers).
Eighty of them had been investors for 25 years or more. One
member even claimed that she had been an investor 70 of
the 75 years. Assets were listed as being $2,500,000.
During the 75 years over $1,900,000 was paid out in div-
idends and interest, an outstanding achievement.
In 1963 approval was given Fidelity to make FHA
loans. Big loans for church building projects were being
considered. Other loans involving six figures were also be-
ing considered and even granted. Because of his wife's poor
health Blackledge resigned in 1963 and was replaced by Reg-
inald Moncur. Interest now being paid on savings was 4%.
Ray Hinkle resigned as a director in 1964 after serving 34
years. John R. Florance succeeded him. Also resigning that
year was secretary-treasurer Reginald Moncur. His succes-
sor was Irwin Niemoeller. Several new employees were hired
in 1965, including an assistant secretary, Jack Griffith and
office workers, Kathleen Weiser and Mary Starling.
The peak year so far as lending was in 1965. Over
200 loans were made, totaling nearly two and a half million
dollars. Total savings increased by a quarter-million dollars.
Niemoeller was made a director that year and Edward Flahive
was named chief counsel. Due to the government's tight
money policy of 1966, the building and loan industry, inclu-
ding Fidelity, endured a difficult year in making loans. To
offset this lack of business, Fidelity launched an intensive
advertising campaign. An employee for 40 years, Questa
Williams retired in 1966. Victor Milla became a director re-
placing R. M. Martin who passed away after being a board
member for 20 years.
By 1967 the advertising campaign, at about $1,000
per month, was in full swing with appreciable effect. The
Association-member appraisal committee was replaced by
professionals, on a trial basis. Mary Starling resigned from
the office staff and was replaced by Norma Hines. On April
28 and 29 another Open House was held. This was in ob-
servance of Fidelity's 80th anniversary. Directors' wives
served as greeters and served refreshments, an ongoing tra-
dition. This event also marked the 100th anniversary of the
founding of Delaware Building Association, the first building
society in Ohio to be incorporated. On February 22, 1967
the Ohio Savings and Loan League had conducted a tree-
planting ceremony and a plaque dedication commemorating
[corresponds to unlabeled page 17 of Fidelity Federal Savings and Loan 100 Years]
Association had a membership of 1,300 investors (savers).
Eighty of them had been investors for 25 years or more. One
member even claimed that she had been an investor 70 of
the 75 years. Assets were listed as being $2,500,000.
During the 75 years over $1,900,000 was paid out in div-
idends and interest, an outstanding achievement.
In 1963 approval was given Fidelity to make FHA
loans. Big loans for church building projects were being
considered. Other loans involving six figures were also be-
ing considered and even granted. Because of his wife's poor
health Blackledge resigned in 1963 and was replaced by Reg-
inald Moncur. Interest now being paid on savings was 4%.
Ray Hinkle resigned as a director in 1964 after serving 34
years. John R. Florance succeeded him. Also resigning that
year was secretary-treasurer Reginald Moncur. His succes-
sor was Irwin Niemoeller. Several new employees were hired
in 1965, including an assistant secretary, Jack Griffith and
office workers, Kathleen Weiser and Mary Starling.
The peak year so far as lending was in 1965. Over
200 loans were made, totaling nearly two and a half million
dollars. Total savings increased by a quarter-million dollars.
Niemoeller was made a director that year and Edward Flahive
was named chief counsel. Due to the government's tight
money policy of 1966, the building and loan industry, inclu-
ding Fidelity, endured a difficult year in making loans. To
offset this lack of business, Fidelity launched an intensive
advertising campaign. An employee for 40 years, Questa
Williams retired in 1966. Victor Milla became a director re-
placing R. M. Martin who passed away after being a board
member for 20 years.
By 1967 the advertising campaign, at about $1,000
per month, was in full swing with appreciable effect. The
Association-member appraisal committee was replaced by
professionals, on a trial basis. Mary Starling resigned from
the office staff and was replaced by Norma Hines. On April
28 and 29 another Open House was held. This was in ob-
servance of Fidelity's 80th anniversary. Directors' wives
served as greeters and served refreshments, an ongoing tra-
dition. This event also marked the 100th anniversary of the
founding of Delaware Building Association, the first building
society in Ohio to be incorporated. On February 22, 1967
the Ohio Savings and Loan League had conducted a tree-
planting ceremony and a plaque dedication commemorating
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 18)
Description
[page 18]
[corresponds to unlabeled page 18 of Fidelity Federal Savings and Loan 100 Years]
that event at Delaware County Fairgrounds. During a ban-
quet that night in Columbus, addressed by Senator Barry
Goldwater the role of Delaware was highlighted. In their
coverage of Fidelity's 80th anniversary newspapers mention-
ed facts such as: the Association had 2000 savings custom-
ers; nearly 500 home buyers and assets of approximately five
million dollars, an increase of three million dollars in six
years. It was a so-so year in 1968. However, a record
amount was added to reserve funds. Things begin to look up
in 1969. James Kern succeeded Victor Milla as a director.
Assistant secretary Jack Griffith resigned his post. Loans
were being made at 7% to 7 1/2% interest, while interest on
savings accounts was changed often in order to meet compe-
tition. Savings accounts were insured up to $20,000.
A record amount was spent for advertising. In this one year
alone over a quarter-million dollars in interest was distribu-
ted, thus indicating a good year. Near the end of the year,
president Will McElfresh died. He had completed 25 years
with Fidelity, the last eleven as president. Vice president
A. L. Everitt was elevated to the presidency. The '60s de-
cade ended with assets of over $6,000,000, that figure be-
ing three times the beginning amount.
THE EVENTFUL SEVENTIES
1970-1979
Business continued to improve with 1970 being the
most profitable year ever for Fidelity. Loans were made at
8% and interest on savings accounts was at 5%. Certificates
were issued at 5.25% up to 6%. Improvement loans were
popular at 6%. Charles Pasley was named assistant secre-
tary and Dr. David C. Green was elected to a directorship.
An employment benefit plan, sponsored by the Ohio Savings
and Loan League, was accepted and put into effect. Assets
were up to the $8,000,000 mark. Many applications for big
loans started to show up in 1971. In fact, Fidelity was the
lead lender in the development of Hayes Colony. Borrowing
rates dipped slightly. Nearly 200 loans were processed and
[corresponds to unlabeled page 18 of Fidelity Federal Savings and Loan 100 Years]
that event at Delaware County Fairgrounds. During a ban-
quet that night in Columbus, addressed by Senator Barry
Goldwater the role of Delaware was highlighted. In their
coverage of Fidelity's 80th anniversary newspapers mention-
ed facts such as: the Association had 2000 savings custom-
ers; nearly 500 home buyers and assets of approximately five
million dollars, an increase of three million dollars in six
years. It was a so-so year in 1968. However, a record
amount was added to reserve funds. Things begin to look up
in 1969. James Kern succeeded Victor Milla as a director.
Assistant secretary Jack Griffith resigned his post. Loans
were being made at 7% to 7 1/2% interest, while interest on
savings accounts was changed often in order to meet compe-
tition. Savings accounts were insured up to $20,000.
A record amount was spent for advertising. In this one year
alone over a quarter-million dollars in interest was distribu-
ted, thus indicating a good year. Near the end of the year,
president Will McElfresh died. He had completed 25 years
with Fidelity, the last eleven as president. Vice president
A. L. Everitt was elevated to the presidency. The '60s de-
cade ended with assets of over $6,000,000, that figure be-
ing three times the beginning amount.
THE EVENTFUL SEVENTIES
1970-1979
Business continued to improve with 1970 being the
most profitable year ever for Fidelity. Loans were made at
8% and interest on savings accounts was at 5%. Certificates
were issued at 5.25% up to 6%. Improvement loans were
popular at 6%. Charles Pasley was named assistant secre-
tary and Dr. David C. Green was elected to a directorship.
An employment benefit plan, sponsored by the Ohio Savings
and Loan League, was accepted and put into effect. Assets
were up to the $8,000,000 mark. Many applications for big
loans started to show up in 1971. In fact, Fidelity was the
lead lender in the development of Hayes Colony. Borrowing
rates dipped slightly. Nearly 200 loans were processed and
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 19)
Description
[page 19]
[corresponds to unlabeled page 19 of Fidelity Federal Savings and Loan 100 Years]
the net increase in savings accounts reached nearly the fig-
ure of $1,500,000. Christmas Club participants were given
a 51st payment for the use of their money. Assets were re-
ported to be $10,000,000. Several additions were made to
the staff in 1972, namely: Edward Planisek, Preston Knight,
Kathy Baker, Karen Hughes and Sandra Stevens. There was
one resignation, Charles Pasley. Business continued to
boom. Such line items as loans for construction, property
improvement, purchase and participation agreements became
very prominent in monthly reports. Assets continued to in-
crease, now at $11,500,000.
A retirement plan for all employees was adopted in
1973. The issuing of traveler's checks became an added
service. Secretary-Treasurer, manager and director, Irvin
Niemoeller resigned, effective March 31, 1973 after eight
years of service. During his years as an officer, Fidelity's
assets increased by $8,000,000. Paul R. McAlister suc-
ceeded Niemoeller. Edward Planisek was named comptroller
a newly created post. Huntington National Bank, Columbus,
became a fourth depository for Association funds. Profes-
sional appraisers, E. Richard Sherman and E. L. Disbennett
Jr. were employed to be appraisers. Interest was 5.25% on
passbook savings accounts and certificates paying from
5.75% up to 7.50% were made available. Director John R.
Florance resigned late in 1973. Assets were $12,000,000.
Two new directors were named in 1974: C. Neilson Griffith
to replace Florance and Paul R. McAllister to replace Nie-
moeller. The well known firm of Coopers and Lybrand was
hired for internal auditing purposes. Loans were made at
8.75% and 9%. Such new loan terms as: recast of loans,
speculative construction, permanent construction; and re-
finance of clear property began to appear in Association re-
cords. A six-year certificate paying interest of 7.75% was
introduced. J. Chad Wirthman and Don Fisher were added
to the list of certified appraisers. An application for esta-
blishing a branch office was filed with the Federal Home
Loan Bank Board. Assets were $13,000,000 at the end of 1974.
Permission to expand came early in 1975. So it was
not long until a beautifully appointed, modern branch office
with three employees was opened in a leased location at 30
Troy Road, within Georgetowne Center. The formal grand
opening was March 10-14. Drawings were held for 10 pass-
book accounts of $25.00 each. New depositors were given
[corresponds to unlabeled page 19 of Fidelity Federal Savings and Loan 100 Years]
the net increase in savings accounts reached nearly the fig-
ure of $1,500,000. Christmas Club participants were given
a 51st payment for the use of their money. Assets were re-
ported to be $10,000,000. Several additions were made to
the staff in 1972, namely: Edward Planisek, Preston Knight,
Kathy Baker, Karen Hughes and Sandra Stevens. There was
one resignation, Charles Pasley. Business continued to
boom. Such line items as loans for construction, property
improvement, purchase and participation agreements became
very prominent in monthly reports. Assets continued to in-
crease, now at $11,500,000.
A retirement plan for all employees was adopted in
1973. The issuing of traveler's checks became an added
service. Secretary-Treasurer, manager and director, Irvin
Niemoeller resigned, effective March 31, 1973 after eight
years of service. During his years as an officer, Fidelity's
assets increased by $8,000,000. Paul R. McAlister suc-
ceeded Niemoeller. Edward Planisek was named comptroller
a newly created post. Huntington National Bank, Columbus,
became a fourth depository for Association funds. Profes-
sional appraisers, E. Richard Sherman and E. L. Disbennett
Jr. were employed to be appraisers. Interest was 5.25% on
passbook savings accounts and certificates paying from
5.75% up to 7.50% were made available. Director John R.
Florance resigned late in 1973. Assets were $12,000,000.
Two new directors were named in 1974: C. Neilson Griffith
to replace Florance and Paul R. McAllister to replace Nie-
moeller. The well known firm of Coopers and Lybrand was
hired for internal auditing purposes. Loans were made at
8.75% and 9%. Such new loan terms as: recast of loans,
speculative construction, permanent construction; and re-
finance of clear property began to appear in Association re-
cords. A six-year certificate paying interest of 7.75% was
introduced. J. Chad Wirthman and Don Fisher were added
to the list of certified appraisers. An application for esta-
blishing a branch office was filed with the Federal Home
Loan Bank Board. Assets were $13,000,000 at the end of 1974.
Permission to expand came early in 1975. So it was
not long until a beautifully appointed, modern branch office
with three employees was opened in a leased location at 30
Troy Road, within Georgetowne Center. The formal grand
opening was March 10-14. Drawings were held for 10 pass-
book accounts of $25.00 each. New depositors were given
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 20)
Description
[page 20]
[corresponds to unlabeled page 20 of Fidelity Federal Savings and Loan 100 Years]
silver ice cream scoops. On display, in sharp contrast to
the ultra-modern laundry next door, was crude washing equip-
ment used by A. L. Everitt's grandmother while raising a
family of eight. Everitt, who had a notable and lengthy con-
nection with Fidelity, was serving as president at the time.
It was largely through the efforts of Secretary Paul McAllis-
ter that the branch office became a reality. This added loca-
tion in Delaware's rapidly growing north end provided easier
access and convenient parking for customers as well as cre-
ating a new marketing area. All services of the main office
were made available at the branch office.
There were still more developments in 1975. The
Association's historic calendar-year policy was changed to
a fiscal year, ending on June 30th. Assets were now well
over $20,000,000. Mr. McAllister resigned effecive Octo-
ber 1st and Edward J. Planisek, who had been serving as the
comptroller and assistant manager for three years, was ap-
pointed secretary-treasurer and general manager. Another
important milestone developed in late December. The 80-
year old former Delaware Hardware Store building at 60 North
Sandusky Street was purchased from Howard Kraft for devel-
opment of a much needed larger main office. Director Leslie
Burkhart was deeply involved in this acquisition. Thus, all
in all, 1975 was a busy, profitable and eventful year.
Starting early in 1976 a great deal of time was spent
concerning the use and remodeling of the newly acquired
building, a process that involved both staff and officials.
In addition, a firm of professionals was hired to assist in
the planning stage. Out of this planning came the idea of
using an "old look" motif in developing 60 North Sandusky
Street into a modern main office.
Other things happened in 1976. Loan applications
increased in both numbers and ammounts. Dates for all annu-
al meetings were changed permanently to the second Monday
in August, thus conforming wtih the new fiscal year policy.
The interest rate for loans ranged from 8% to 9%. A new pay
schedule was adopted for the 7 staff members as well as all
officers. Libaility insurance coverage for all Fidelity offi-
cers became effective near the end of 1976.
With the advent of 1977 Fidelity became 90 years
old. The early months of that year were devoted to comple-
ting the restoration of their new facility and planning a gala
birthday celebration. These activities required the com-
[corresponds to unlabeled page 20 of Fidelity Federal Savings and Loan 100 Years]
silver ice cream scoops. On display, in sharp contrast to
the ultra-modern laundry next door, was crude washing equip-
ment used by A. L. Everitt's grandmother while raising a
family of eight. Everitt, who had a notable and lengthy con-
nection with Fidelity, was serving as president at the time.
It was largely through the efforts of Secretary Paul McAllis-
ter that the branch office became a reality. This added loca-
tion in Delaware's rapidly growing north end provided easier
access and convenient parking for customers as well as cre-
ating a new marketing area. All services of the main office
were made available at the branch office.
There were still more developments in 1975. The
Association's historic calendar-year policy was changed to
a fiscal year, ending on June 30th. Assets were now well
over $20,000,000. Mr. McAllister resigned effecive Octo-
ber 1st and Edward J. Planisek, who had been serving as the
comptroller and assistant manager for three years, was ap-
pointed secretary-treasurer and general manager. Another
important milestone developed in late December. The 80-
year old former Delaware Hardware Store building at 60 North
Sandusky Street was purchased from Howard Kraft for devel-
opment of a much needed larger main office. Director Leslie
Burkhart was deeply involved in this acquisition. Thus, all
in all, 1975 was a busy, profitable and eventful year.
Starting early in 1976 a great deal of time was spent
concerning the use and remodeling of the newly acquired
building, a process that involved both staff and officials.
In addition, a firm of professionals was hired to assist in
the planning stage. Out of this planning came the idea of
using an "old look" motif in developing 60 North Sandusky
Street into a modern main office.
Other things happened in 1976. Loan applications
increased in both numbers and ammounts. Dates for all annu-
al meetings were changed permanently to the second Monday
in August, thus conforming wtih the new fiscal year policy.
The interest rate for loans ranged from 8% to 9%. A new pay
schedule was adopted for the 7 staff members as well as all
officers. Libaility insurance coverage for all Fidelity offi-
cers became effective near the end of 1976.
With the advent of 1977 Fidelity became 90 years
old. The early months of that year were devoted to comple-
ting the restoration of their new facility and planning a gala
birthday celebration. These activities required the com-
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 21)
Description
[page 21]
[corresponds to unlabeled page 21 of Fidelity Federal Savings and Loan 100 Years]
bined efforts and talents of manager, Edward Planisek and
his staff and of president, A. L. Everitt and his fellow offi-
cers. The restored 80-year old structure was given a new,
but "old look" with its exterior being refinished in color and
style reminiscent of the 1890s.
For the lobby expert craftmen created a Victorian Era
atmosphere with ornate lighting fixtures, plush wall-to-wall
carpeting, naturally finished oak woodwork and walls featu-
ring wainscoting of oak, highlighted with period wallpaper
and art work. The lobby's waiting area was made especially
pleasant with Victorian style furnishings. Adjacent to the
waiting area two spaces were set aside for secretarial use.
In order not to detract from the Victorian motif, the
work area, with its battery of modern business equipment,
was separated from the lobby by a row of teller terminals
fashioned from oak. Adjacent to this work area a small
private room was created for safety deposit boxes. Beyond
the lobby, management offices were positioned as well as
space for the bookkeeping department and conference,
staff, storage and rest rooms plus areas for future develop-
ment. In the recessed main entrance off Sandusky Street
a walk-up window and a night depository were installed,
both of which blended into the "old look". At the rear,
a convenient parking lot was built, with both entrances
and exits from Sandusky Street and Central Avenue. A
covered rear entrance was constructed off the parking lot,
with steps leading downstairs to a hallway that provided ac-
cess to the lobby and various offices.
In order to celebrate properly its 90th anniversary,
to show off the new "Old Look" facility and to acquaint the
public with its new location and its expanded services,
Fidelity held a Grand Opening Week, June 13-17, 1977.
Ray Hinkle, retired long-time Association official, was
given the traditional ribbon cutting honor. Refreshments
were served and gifts presented to all visitors. House plants
were given with $50.00 deposits to savings accounts and ran-
dom drawings were held for $600.00 in gift certificates re-
deemable at area places of business. The Radio Station WD-
LR did live broadcasts from the facility on certain days.
After touring the new facility, one prominent citizen
remarked, "It is a very significant and handsome addition to
the downtown appearance of Delaware. I hope that it will
encourage others to follow the excellent example you have
set."
[corresponds to unlabeled page 21 of Fidelity Federal Savings and Loan 100 Years]
bined efforts and talents of manager, Edward Planisek and
his staff and of president, A. L. Everitt and his fellow offi-
cers. The restored 80-year old structure was given a new,
but "old look" with its exterior being refinished in color and
style reminiscent of the 1890s.
For the lobby expert craftmen created a Victorian Era
atmosphere with ornate lighting fixtures, plush wall-to-wall
carpeting, naturally finished oak woodwork and walls featu-
ring wainscoting of oak, highlighted with period wallpaper
and art work. The lobby's waiting area was made especially
pleasant with Victorian style furnishings. Adjacent to the
waiting area two spaces were set aside for secretarial use.
In order not to detract from the Victorian motif, the
work area, with its battery of modern business equipment,
was separated from the lobby by a row of teller terminals
fashioned from oak. Adjacent to this work area a small
private room was created for safety deposit boxes. Beyond
the lobby, management offices were positioned as well as
space for the bookkeeping department and conference,
staff, storage and rest rooms plus areas for future develop-
ment. In the recessed main entrance off Sandusky Street
a walk-up window and a night depository were installed,
both of which blended into the "old look". At the rear,
a convenient parking lot was built, with both entrances
and exits from Sandusky Street and Central Avenue. A
covered rear entrance was constructed off the parking lot,
with steps leading downstairs to a hallway that provided ac-
cess to the lobby and various offices.
In order to celebrate properly its 90th anniversary,
to show off the new "Old Look" facility and to acquaint the
public with its new location and its expanded services,
Fidelity held a Grand Opening Week, June 13-17, 1977.
Ray Hinkle, retired long-time Association official, was
given the traditional ribbon cutting honor. Refreshments
were served and gifts presented to all visitors. House plants
were given with $50.00 deposits to savings accounts and ran-
dom drawings were held for $600.00 in gift certificates re-
deemable at area places of business. The Radio Station WD-
LR did live broadcasts from the facility on certain days.
After touring the new facility, one prominent citizen
remarked, "It is a very significant and handsome addition to
the downtown appearance of Delaware. I hope that it will
encourage others to follow the excellent example you have
set."
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 22)
Description
[page 22]
[corresponds to unlabeled page 22 of Fidelity Federal Savings and Loan 100 Years]
Other things happened in 1977. The former office
building at 46 North Sandusky Street was sold to Cedo Cor-
poration. The unused rear one-half of the branch office was
subleased to Buehler's; a program of surprise cash counts at
various teller terminals was instituted; the liability policy
covering officers was changed to a different company and a
non-discriminatory policy in making loans became effective.
In 1978 loans were made at 9% and 10%, with employ-
ees getting special consideration on their loan applications.
A limit of $15,000 was placed on home improvement loans.
Traveler's checks were issued at no charge to Senior Citi-
zens holding Golden Buckeye cards. A new salary schedule
for all 8 employees was adopted along with a provision that
called for automatic, semi-annual reviews of existing pay
scales.
Highlights of 1979 included the purchase October 9
of the adjoining building at 58 North Sandusky Street. For-
merly a Sears Store was located at this site owned by Mar-
guerite Burgess.
Interest on passbook savings accounts was set at
5.5%. Continuing a trend of the times, pay raises were
given to all staff members and officers. Outright authority
was given Association officers to make first mortgage loans
up to $45,000. Interest rates on loans continued to climb
upward, now being at 12.5%. It was decided to convert un-
developed space on the second floor into a room for use by
auditors and examiners. Donations were made to the Hayes
High School Band Uniform Fund and for the downtown Christ-
mas lighting project. With deregulations of savings and
loans in the offing, a whole new future was opened up for
Fidelity.
[corresponds to unlabeled page 22 of Fidelity Federal Savings and Loan 100 Years]
Other things happened in 1977. The former office
building at 46 North Sandusky Street was sold to Cedo Cor-
poration. The unused rear one-half of the branch office was
subleased to Buehler's; a program of surprise cash counts at
various teller terminals was instituted; the liability policy
covering officers was changed to a different company and a
non-discriminatory policy in making loans became effective.
In 1978 loans were made at 9% and 10%, with employ-
ees getting special consideration on their loan applications.
A limit of $15,000 was placed on home improvement loans.
Traveler's checks were issued at no charge to Senior Citi-
zens holding Golden Buckeye cards. A new salary schedule
for all 8 employees was adopted along with a provision that
called for automatic, semi-annual reviews of existing pay
scales.
Highlights of 1979 included the purchase October 9
of the adjoining building at 58 North Sandusky Street. For-
merly a Sears Store was located at this site owned by Mar-
guerite Burgess.
Interest on passbook savings accounts was set at
5.5%. Continuing a trend of the times, pay raises were
given to all staff members and officers. Outright authority
was given Association officers to make first mortgage loans
up to $45,000. Interest rates on loans continued to climb
upward, now being at 12.5%. It was decided to convert un-
developed space on the second floor into a room for use by
auditors and examiners. Donations were made to the Hayes
High School Band Uniform Fund and for the downtown Christ-
mas lighting project. With deregulations of savings and
loans in the offing, a whole new future was opened up for
Fidelity.
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 23)
Description
[page 23]
[corresponds to unlabeled page 23 of Fidelity Federal Savings and Loan 100 Years]
HIGHLIGHTING THE EIGHTIES
1980-1986
In 1980 a revised sick leave plan was adopted. Un-
solicited outside offers for possible mergers, a common ma-
neuver of that day, were turned down. The usual donations
to youth groups were made plus one to the Soil Conservation
District. Pay raises were given to all employees. NOW
accounts and roll over mortgages were introduced. An offer
designed to relocate the branch office to a place inside the
Buehler Store was also turned down. Loans were made at
rates that fluctuated between 11% and 15%. Due to a rash
of bank robberies in Columbus it was decided to install a
camera in a strategic spot. Economic conditions influenced
much of 1981 activity. The trend was toward shorter term,
higher cost certificates of deposits and a greatly increased
average of dividends paid out. Such a business climate re-
quired not only caution but also constant reviews of the
Association's investment portfolio. Interest charged on
loans rose to as high as 18%. Second mortgages, up to 80%
of appraisal value, not to exceed $45,000 and with a 10-year
limit, were made available. The usual annual pay raises
for all employees were granted. However, the directors and
legal counsel, due to 1981's economic slowdown, decided
to take cuts in their fees. Despite the slowdown, Fidelity's
assets were up to over $27,000,000 as 1981 ended.
During 1982 a third teller terminal was installed at
the branch office. A great deal of discussion centered on
possible restructuring of assets. IRAs were introduced.
Interest on 30 month CDs was limited to 14%. Money Ma-
ker accounts and 91-day CDs were authorized. Inquiries
regarding possible mergers continued to surface. No inter-
est in these mergers was shown. Salaries were increased.
Considerable attention was given to proposed methods for
disposing of low-yielding loans. With the office building
now five years old contracts were awarded for painting and
other exterior work. The year 1983 was ushered in with on-
going discussions concerning possible consumer type lend-
ing; a more aggressive mortgage lending policy and possible
sale of certain low-yield mortgage loans. Changes were
made in advertising agencies and in internal audit compan-
ies. Thomas Ivory was employed as assistant treasurer
and Ed Madison was engaged to appraise for second mort-
[corresponds to unlabeled page 23 of Fidelity Federal Savings and Loan 100 Years]
HIGHLIGHTING THE EIGHTIES
1980-1986
In 1980 a revised sick leave plan was adopted. Un-
solicited outside offers for possible mergers, a common ma-
neuver of that day, were turned down. The usual donations
to youth groups were made plus one to the Soil Conservation
District. Pay raises were given to all employees. NOW
accounts and roll over mortgages were introduced. An offer
designed to relocate the branch office to a place inside the
Buehler Store was also turned down. Loans were made at
rates that fluctuated between 11% and 15%. Due to a rash
of bank robberies in Columbus it was decided to install a
camera in a strategic spot. Economic conditions influenced
much of 1981 activity. The trend was toward shorter term,
higher cost certificates of deposits and a greatly increased
average of dividends paid out. Such a business climate re-
quired not only caution but also constant reviews of the
Association's investment portfolio. Interest charged on
loans rose to as high as 18%. Second mortgages, up to 80%
of appraisal value, not to exceed $45,000 and with a 10-year
limit, were made available. The usual annual pay raises
for all employees were granted. However, the directors and
legal counsel, due to 1981's economic slowdown, decided
to take cuts in their fees. Despite the slowdown, Fidelity's
assets were up to over $27,000,000 as 1981 ended.
During 1982 a third teller terminal was installed at
the branch office. A great deal of discussion centered on
possible restructuring of assets. IRAs were introduced.
Interest on 30 month CDs was limited to 14%. Money Ma-
ker accounts and 91-day CDs were authorized. Inquiries
regarding possible mergers continued to surface. No inter-
est in these mergers was shown. Salaries were increased.
Considerable attention was given to proposed methods for
disposing of low-yielding loans. With the office building
now five years old contracts were awarded for painting and
other exterior work. The year 1983 was ushered in with on-
going discussions concerning possible consumer type lend-
ing; a more aggressive mortgage lending policy and possible
sale of certain low-yield mortgage loans. Changes were
made in advertising agencies and in internal audit compan-
ies. Thomas Ivory was employed as assistant treasurer
and Ed Madison was engaged to appraise for second mort-
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 24)
Description
[page 24]
[corresponds to unlabeled page 24 of Fidelity Federal Savings and Loan 100 Years]
gages and for lots. Twelve-month CDs with a $500.00 mini-
mum were introduced. Permission to make loans made possi-
ble by passage of State Issue I was authorized by the direc-
tors. Since he was moving from Ohio, Leslie Burkhart re-
signed his directorship after 23 years of service, including
8 years as Association vice president. Business conditions
were beginning to improve by the end of 1983.
Fidelity experienced a good year in 1984. Richard
Dawson was elected a director succeeding Leslie Burkhart.
A change was made in the insurance company managing the
retirement plan for Fidelity. Salaries for all employees and
officials were increased and a maternity leave policy was
formulated. In order to complete a change in data proces-
sing firms new conversion equipment had to be installed.
A. L. Everitt resigned from the board after being a member
for 39 years. He was president for 8 of those years, during
which time the branch office was established and the present
facility became a realty. Noteworthy, too, was the fact that
Fidelity's assets increased by over $30,000,000 during his
connection with the Association. Everitt passed away in
December 1984.
By 1985 interest rates were beginning to fall. The
business climate was much better. Restructuring of Associ-
ation assets continued to be a prime topic. Lloyd Baker took
A. L. Everitt's place on the board of directors. A sizeable
special industry-wide assessment was paid to the Federal
Savings and Loan Insurance Corporation. Female employees
were given a 6% salary incrase. Martha Law was named
assistant treasurer after Thomas Ivory resigned from the post.
Fees paid to directors were increased and year-end bonuses
were distributed. By the year's end assets were all the way
up to $32,664,250.
While heading into the last lap (1986) of its first 100
years of serving the Delaware area things shaped up like this:
interest rates on loans dropped to 10% and below; requests
for refinancing soared; interest on CDs and various other
savings plans inched downward; selected employees were
given salary increases; and potential sites for expansion
were discussed but no action was taken.
When the fiscal year ended on June 30th, assets were
up to $36,523,620. A Centennial Committee was formed com-
posed of directors C. Neilson Griffith, James L. Kern, vice
president and Harry A. Humes, president, to plan Fidelity's
[corresponds to unlabeled page 24 of Fidelity Federal Savings and Loan 100 Years]
gages and for lots. Twelve-month CDs with a $500.00 mini-
mum were introduced. Permission to make loans made possi-
ble by passage of State Issue I was authorized by the direc-
tors. Since he was moving from Ohio, Leslie Burkhart re-
signed his directorship after 23 years of service, including
8 years as Association vice president. Business conditions
were beginning to improve by the end of 1983.
Fidelity experienced a good year in 1984. Richard
Dawson was elected a director succeeding Leslie Burkhart.
A change was made in the insurance company managing the
retirement plan for Fidelity. Salaries for all employees and
officials were increased and a maternity leave policy was
formulated. In order to complete a change in data proces-
sing firms new conversion equipment had to be installed.
A. L. Everitt resigned from the board after being a member
for 39 years. He was president for 8 of those years, during
which time the branch office was established and the present
facility became a realty. Noteworthy, too, was the fact that
Fidelity's assets increased by over $30,000,000 during his
connection with the Association. Everitt passed away in
December 1984.
By 1985 interest rates were beginning to fall. The
business climate was much better. Restructuring of Associ-
ation assets continued to be a prime topic. Lloyd Baker took
A. L. Everitt's place on the board of directors. A sizeable
special industry-wide assessment was paid to the Federal
Savings and Loan Insurance Corporation. Female employees
were given a 6% salary incrase. Martha Law was named
assistant treasurer after Thomas Ivory resigned from the post.
Fees paid to directors were increased and year-end bonuses
were distributed. By the year's end assets were all the way
up to $32,664,250.
While heading into the last lap (1986) of its first 100
years of serving the Delaware area things shaped up like this:
interest rates on loans dropped to 10% and below; requests
for refinancing soared; interest on CDs and various other
savings plans inched downward; selected employees were
given salary increases; and potential sites for expansion
were discussed but no action was taken.
When the fiscal year ended on June 30th, assets were
up to $36,523,620. A Centennial Committee was formed com-
posed of directors C. Neilson Griffith, James L. Kern, vice
president and Harry A. Humes, president, to plan Fidelity's
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 25)
Description
[page 25]
[corresponds to unlabeled page 25 of Fidelity Federal Savings and Loan 100 Years]
100th anniversary celebration. In approaching its 100th
birthday, January 18, 1987, Edward J. Planisek Jr., manage-
ing officer, announced that Fidelity's assets were up to a
record high of $40,000,000. He also announced that the
number of borrowers and of depositors were at all-time highs.
It was in this upbeat atmosphere that Fidelity's first century
came to an end.
EPILOGUE
In summation, Fidelity has survived wars, depres-
sions, slowdowns, recessions, regulations, panics, in-
flation and competition, thus attesting to its durability,
flexibility and credibility. The Association can take great
pride and satisfaction in the fact that it had helped thou-
sands of people purchase, build or remodel their homes.
Likewise thousands have entrusted their savings with
Fidelity and they have been rewarded with high interest
rates and guaranteed safety. In short, Fidelity has been
good to the people of the Delaware area and Delaware area
people have been good to Fidelity. Otherwise there would
be no Centennial Celebration. It has bucked the merger
trend and is still independent and Delaware's only home-
town savings and loan Association. And judging from past
performance Fidelity will be around for as long as man's
quest for shelter is alive.
[corresponds to unlabeled page 25 of Fidelity Federal Savings and Loan 100 Years]
100th anniversary celebration. In approaching its 100th
birthday, January 18, 1987, Edward J. Planisek Jr., manage-
ing officer, announced that Fidelity's assets were up to a
record high of $40,000,000. He also announced that the
number of borrowers and of depositors were at all-time highs.
It was in this upbeat atmosphere that Fidelity's first century
came to an end.
EPILOGUE
In summation, Fidelity has survived wars, depres-
sions, slowdowns, recessions, regulations, panics, in-
flation and competition, thus attesting to its durability,
flexibility and credibility. The Association can take great
pride and satisfaction in the fact that it had helped thou-
sands of people purchase, build or remodel their homes.
Likewise thousands have entrusted their savings with
Fidelity and they have been rewarded with high interest
rates and guaranteed safety. In short, Fidelity has been
good to the people of the Delaware area and Delaware area
people have been good to Fidelity. Otherwise there would
be no Centennial Celebration. It has bucked the merger
trend and is still independent and Delaware's only home-
town savings and loan Association. And judging from past
performance Fidelity will be around for as long as man's
quest for shelter is alive.
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 26)
Description
[page 26]
[corresponds to unlabeled page 26 of Fidelity Federal Savings and Loan 100 Years]
ADMINISTRATION
Since its founding 100 years ago, secretaries have
been regarded as top person in Fidelity's day by day opera-
tion, always doubling as manager and sometimes as treas-
urer. In recent years the title has become a combination of
secretary/treasurer/managing officer, without a brief, des-
ignated title. Their salaries down through the years were
generally in line with thoes in similar businesses. Such
benefits as car allowances, bonuses, insurance and retire-
ment programs were added over a long period of time.
In Fidelity's 100 year history only nine men served
in this managerial capacity. Longest tenures were those of
Frank S. Watkins (32 years) and Ray D. Hinkle (26 years).
Their combined years covered more than one-half of Fidel-
ity's entire existence. A considerable share of Fidelity's
success would have to be attributed to these capable and
devoted administrators: C. O. Little (1887-1892), W. E.
Moore (1892-1903), Frank S. Watkins (1903-1935), Ray
D. Hinkle (1935-1961), James Blackledge (1961-1963),
Reginald Moncur (1963-1964), Irwin Niemoeller (1964-1973)
Paul McAllister (1973-1975) and in 1975 Edward J. Planisek
was named secretary-treasurer and managing officer. He is
still serving in those capacities as Fidelity closes out its
100th year.
ABOUT THE DIRECTORS
Under the charter and by-laws adopted in 1936, the
board of directors was charged with directing Association
business. The board, as constituted, consisted of seven
directors. They elected their own officers and formed them-
selves into operating committees. Regular monthly meetings
were mandated with provision for special meetings, if neces-
sary. Among board duties were these: review and act upon
loan applications; set interest rates for loans and for sav-
[corresponds to unlabeled page 26 of Fidelity Federal Savings and Loan 100 Years]
ADMINISTRATION
Since its founding 100 years ago, secretaries have
been regarded as top person in Fidelity's day by day opera-
tion, always doubling as manager and sometimes as treas-
urer. In recent years the title has become a combination of
secretary/treasurer/managing officer, without a brief, des-
ignated title. Their salaries down through the years were
generally in line with thoes in similar businesses. Such
benefits as car allowances, bonuses, insurance and retire-
ment programs were added over a long period of time.
In Fidelity's 100 year history only nine men served
in this managerial capacity. Longest tenures were those of
Frank S. Watkins (32 years) and Ray D. Hinkle (26 years).
Their combined years covered more than one-half of Fidel-
ity's entire existence. A considerable share of Fidelity's
success would have to be attributed to these capable and
devoted administrators: C. O. Little (1887-1892), W. E.
Moore (1892-1903), Frank S. Watkins (1903-1935), Ray
D. Hinkle (1935-1961), James Blackledge (1961-1963),
Reginald Moncur (1963-1964), Irwin Niemoeller (1964-1973)
Paul McAllister (1973-1975) and in 1975 Edward J. Planisek
was named secretary-treasurer and managing officer. He is
still serving in those capacities as Fidelity closes out its
100th year.
ABOUT THE DIRECTORS
Under the charter and by-laws adopted in 1936, the
board of directors was charged with directing Association
business. The board, as constituted, consisted of seven
directors. They elected their own officers and formed them-
selves into operating committees. Regular monthly meetings
were mandated with provision for special meetings, if neces-
sary. Among board duties were these: review and act upon
loan applications; set interest rates for loans and for sav-
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 27)
Description
[page 27]
[corresponds to unlabeled page 27 of Fidelity Federal Savings and Loan 100 Years]
ings accounts; evaluate monthly financial reports and hire
employees and set their salaries. In addition, for many
years, it was customary for a committee of directors to make
appraisals as part of the loan process. For this service
each appraiser was paid a small fee. However, in recent
years, the directors turned over this important duty to pro-
fessionals. When the Association was organized, the di-
rectors served without pay. Then as business increased,
they paid themselves small amounts for meetings attended,
a trend that has continued upward until nowadays they are
receiving an annual salary comparable to directors in like
businesses. A 1936 by-law states that the Association
"shall extend leniency and indulgence to borrowers in dis-
tress". Actually the officers and directors have been fol-
lowing that practice for 100 years and it has enhanced the
image of Fidelity by so doing.
Basically the director's role and duties during those
50 years of state supervision differ very little from those of
the past 50 years of federalization, except for the growing
complexities of doing business in our constantly changing
economy. Credit for much of the Association's success and
longevity would have to be attributed to these 53 outstand-
ing business and professional men who gave so liberally of
their time and talent over the past century while serving as
directors: Lloyd Baker, D. H. Battenfield, B. W. Brown,
Leslie Burkhart, Dr. H. P. Caldwell, H. L. Clark, W. J.
Cone, Joseph C. Cox, Robert Cox, Harry W. Crist, Rich-
ard Dawson, Charles W. Denison, A. L. Everitt, John R.
Florance, Max Frank, W. T. Gessner, Fred M. Gooding,
Dr. David C. Green, C. Neilson Griffith, J. H. Grove, Dr.
W. H. Hague, C. E. Hills, Ray D. Hinkle, George J. Hoff-
man, George K. Hoffman, Harry A. Humes, W. C. Jaynes,
James L. Kern, C. O. Little, A. Lybrand Jr., R. M. Martin,
Paul R. McAllister, H. J. McCullough, Will McElfresh,
Victor Milla, Martin Miller, W. E. Moore, Eugene P. Nash,
E. E. Neff, Irwin Niemoeller, W. S. Parks, F. J. R. Pfiffner,
Edward J. Planisek, J. H. Smith, W. A. Smith, Frank S.
Sprague, V. D. Stayman, J. D. Van Deman, Hosea Warren,
Frank S. Watkins, H. A. Welch, J. C. Wirthman and Bene-
dict Yehley.
[corresponds to unlabeled page 27 of Fidelity Federal Savings and Loan 100 Years]
ings accounts; evaluate monthly financial reports and hire
employees and set their salaries. In addition, for many
years, it was customary for a committee of directors to make
appraisals as part of the loan process. For this service
each appraiser was paid a small fee. However, in recent
years, the directors turned over this important duty to pro-
fessionals. When the Association was organized, the di-
rectors served without pay. Then as business increased,
they paid themselves small amounts for meetings attended,
a trend that has continued upward until nowadays they are
receiving an annual salary comparable to directors in like
businesses. A 1936 by-law states that the Association
"shall extend leniency and indulgence to borrowers in dis-
tress". Actually the officers and directors have been fol-
lowing that practice for 100 years and it has enhanced the
image of Fidelity by so doing.
Basically the director's role and duties during those
50 years of state supervision differ very little from those of
the past 50 years of federalization, except for the growing
complexities of doing business in our constantly changing
economy. Credit for much of the Association's success and
longevity would have to be attributed to these 53 outstand-
ing business and professional men who gave so liberally of
their time and talent over the past century while serving as
directors: Lloyd Baker, D. H. Battenfield, B. W. Brown,
Leslie Burkhart, Dr. H. P. Caldwell, H. L. Clark, W. J.
Cone, Joseph C. Cox, Robert Cox, Harry W. Crist, Rich-
ard Dawson, Charles W. Denison, A. L. Everitt, John R.
Florance, Max Frank, W. T. Gessner, Fred M. Gooding,
Dr. David C. Green, C. Neilson Griffith, J. H. Grove, Dr.
W. H. Hague, C. E. Hills, Ray D. Hinkle, George J. Hoff-
man, George K. Hoffman, Harry A. Humes, W. C. Jaynes,
James L. Kern, C. O. Little, A. Lybrand Jr., R. M. Martin,
Paul R. McAllister, H. J. McCullough, Will McElfresh,
Victor Milla, Martin Miller, W. E. Moore, Eugene P. Nash,
E. E. Neff, Irwin Niemoeller, W. S. Parks, F. J. R. Pfiffner,
Edward J. Planisek, J. H. Smith, W. A. Smith, Frank S.
Sprague, V. D. Stayman, J. D. Van Deman, Hosea Warren,
Frank S. Watkins, H. A. Welch, J. C. Wirthman and Bene-
dict Yehley.
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 28)
Description
[page 28]
[corresponds to unlabeled page 28 of Fidelity Federal Savings and Loan 100 Years]
PINPOINTING THE PRESIDENTS
The founding president was B. W. Brown. Other
early presidents were Max Frank, C. E. Hills, J. D. Van
Deman, and D. W. Battenfield. Following them were
Eugene P. Nash (1928-34), Harry W. Crist (1934-45),
Charles W. Denison (1945-58), Will McElfresh (1958-69),
and A. L. Everitt (1969-77). Harry A. Humes succeeded
Everitt as only the 11th president in Fidelity's 100 year his-
tory. He is still serving in that capacity. Presidents have
always been elected by the board of directors from within
their own ranks. Early on, they were paid the same fee as
directors, plus an additional amount for performing presi-
dentials duties, generally on a per meeting attended basis.
This method of remuneration still prevails. As times and
circumstances permitted, presidential pay has been upgra-
ded to its present level. Fidelity has been fortunate to have
had such qualified and dedicated leadership during its first
100 years.
LEGALLY SPEAKING
From its inception Fidelity's by-laws provided for a
legal adviser as part of the official family. The beginning
fee for providing this service was limited to $18.00 per quar-
ter. J. D. Van Deman was the first of Delaware's distin-
guished attorneys to serve Fidelity. Others who acted as
the Association's legal counsel included W. J. Cone, James
Lytle, C. H. McElroy, Edson Williams, Harry Crist, and
James Blair. In 1965 Edward Flahive was named legal coun-
sel and he still holds that position. Attorneys Van Deman
and Crist each served several years as both Fidelity presi-
dent and legal counsel, but without pay for the latter post.
Other Delaware attorneys, on occasion, were called upon to
represent Fidelity in specific legal matters. There is little
doubt but that the Association's legal counselors played an
important role in its 100 years of solving housing needs of
thousands of people.
[corresponds to unlabeled page 28 of Fidelity Federal Savings and Loan 100 Years]
PINPOINTING THE PRESIDENTS
The founding president was B. W. Brown. Other
early presidents were Max Frank, C. E. Hills, J. D. Van
Deman, and D. W. Battenfield. Following them were
Eugene P. Nash (1928-34), Harry W. Crist (1934-45),
Charles W. Denison (1945-58), Will McElfresh (1958-69),
and A. L. Everitt (1969-77). Harry A. Humes succeeded
Everitt as only the 11th president in Fidelity's 100 year his-
tory. He is still serving in that capacity. Presidents have
always been elected by the board of directors from within
their own ranks. Early on, they were paid the same fee as
directors, plus an additional amount for performing presi-
dentials duties, generally on a per meeting attended basis.
This method of remuneration still prevails. As times and
circumstances permitted, presidential pay has been upgra-
ded to its present level. Fidelity has been fortunate to have
had such qualified and dedicated leadership during its first
100 years.
LEGALLY SPEAKING
From its inception Fidelity's by-laws provided for a
legal adviser as part of the official family. The beginning
fee for providing this service was limited to $18.00 per quar-
ter. J. D. Van Deman was the first of Delaware's distin-
guished attorneys to serve Fidelity. Others who acted as
the Association's legal counsel included W. J. Cone, James
Lytle, C. H. McElroy, Edson Williams, Harry Crist, and
James Blair. In 1965 Edward Flahive was named legal coun-
sel and he still holds that position. Attorneys Van Deman
and Crist each served several years as both Fidelity presi-
dent and legal counsel, but without pay for the latter post.
Other Delaware attorneys, on occasion, were called upon to
represent Fidelity in specific legal matters. There is little
doubt but that the Association's legal counselors played an
important role in its 100 years of solving housing needs of
thousands of people.
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 29)
Description
[page 29]
[corresponds to unlabeled page 29 of Fidelity Federal Savings and Loan 100 Years]
PROFILING RAY HINKLE
The name of Ray D. Hinkle stands out prominently in
Fidelity's history. He started a long and distinguished ca-
reer at Fidelity on June 1, 1927 as bookkeeper. Very soon
thereafter he was named cashier. When long-time secretary
and manager, Frank S. Watkins, resigned in January of 1935,
Hinkle was named to that position and he stayed on until re-
signing on May 1, 1961. In 1930 he had been elected as a
director and remained in that capacity for 34 years. During
1962-64 he served as vice president. Hinkle's career en-
compassed such difficult years as those of the Great Depres-
sion, the change from state to federal charter and World
War II with its trying times. When Hinkle became secretary
and manager in 1935 Fidelity's assets were recorded as
$778,003. When retiring from that position in 1961, the as-
sets were up to $2,184,300. His genuis for making safe
loans and for protecting depositor's funds is legendary.
Some of his passing recollections include his former
boss telling a demanding customer, "Yes, we do have a
board of directors, but I am boss." He recalled the time he
complained to a supplier via mail because his six-month old
order had not arrived - only to receive a terse three-word
note stating, "Sorry as hell". Also the trials and tribula-
tions of the Great Depression days when he made "house
calls" in an effort to collect past due accounts such as the
delinquent farmer who had promised to pay "When his wheat
was threshed".
After attending Ohio Wesleyan University for two
years, Questa Williams came to Fidelity July 1, 1927 as the
bookkeeper. In 1936 she was made cashier, a position she
held until her retirement October 1, 1966. She served under
five different secretary-managers for a total of 40 years, the
longest tenure of any Fidelity employee. Secretary Ray Hin-
kle, Questa's boss for many of those years, had this to say
about her, "Questa was an excellent employee who did her
job faithfully, year in and year out".
[corresponds to unlabeled page 29 of Fidelity Federal Savings and Loan 100 Years]
PROFILING RAY HINKLE
The name of Ray D. Hinkle stands out prominently in
Fidelity's history. He started a long and distinguished ca-
reer at Fidelity on June 1, 1927 as bookkeeper. Very soon
thereafter he was named cashier. When long-time secretary
and manager, Frank S. Watkins, resigned in January of 1935,
Hinkle was named to that position and he stayed on until re-
signing on May 1, 1961. In 1930 he had been elected as a
director and remained in that capacity for 34 years. During
1962-64 he served as vice president. Hinkle's career en-
compassed such difficult years as those of the Great Depres-
sion, the change from state to federal charter and World
War II with its trying times. When Hinkle became secretary
and manager in 1935 Fidelity's assets were recorded as
$778,003. When retiring from that position in 1961, the as-
sets were up to $2,184,300. His genuis for making safe
loans and for protecting depositor's funds is legendary.
Some of his passing recollections include his former
boss telling a demanding customer, "Yes, we do have a
board of directors, but I am boss." He recalled the time he
complained to a supplier via mail because his six-month old
order had not arrived - only to receive a terse three-word
note stating, "Sorry as hell". Also the trials and tribula-
tions of the Great Depression days when he made "house
calls" in an effort to collect past due accounts such as the
delinquent farmer who had promised to pay "When his wheat
was threshed".
After attending Ohio Wesleyan University for two
years, Questa Williams came to Fidelity July 1, 1927 as the
bookkeeper. In 1936 she was made cashier, a position she
held until her retirement October 1, 1966. She served under
five different secretary-managers for a total of 40 years, the
longest tenure of any Fidelity employee. Secretary Ray Hin-
kle, Questa's boss for many of those years, had this to say
about her, "Questa was an excellent employee who did her
job faithfully, year in and year out".
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 30)
Description
[page 30]
[corresponds to unlabeled page 30 of Fidelity Federal Savings and Loan 100 Years]
LOOKING AT ADVERTISEMENT
When spread over a century, Fidelity's advertising
has had to have an impact on its growth and visibility.
Often large display ads were used to publicize anniversa-
ries, dedications, grand openings, annual reports, and
important events. Smaller ads, some done professionally,
were used to highlight their ever increasing services as well
as to urge people to be thrifty and save, preferably at Fidel-
ity, of course. Even classified ads and direct mailings
were found to be effective in making contacts. With the
advent of radio and still later, cable TV, these new dimen-
sions were put to use. Certain phrases and slogans, taken
from advertising copy, have become Fidelity trademarks,
such as: "Pin your future to thrift".
"Not how big, but how strong".
"Safety and service since 1887".
"We're everything friends are for".
"Always secured, now insured".
In the 1950s a great deal of emphasis was given this
phrase, "A local institution, conducted by local people, for
the benefit of local people". The combination of media adver-
tising and good will generated by satisfied customers has
made and kept Fidelity a household name for these many
years.
[corresponds to unlabeled page 30 of Fidelity Federal Savings and Loan 100 Years]
LOOKING AT ADVERTISEMENT
When spread over a century, Fidelity's advertising
has had to have an impact on its growth and visibility.
Often large display ads were used to publicize anniversa-
ries, dedications, grand openings, annual reports, and
important events. Smaller ads, some done professionally,
were used to highlight their ever increasing services as well
as to urge people to be thrifty and save, preferably at Fidel-
ity, of course. Even classified ads and direct mailings
were found to be effective in making contacts. With the
advent of radio and still later, cable TV, these new dimen-
sions were put to use. Certain phrases and slogans, taken
from advertising copy, have become Fidelity trademarks,
such as: "Pin your future to thrift".
"Not how big, but how strong".
"Safety and service since 1887".
"We're everything friends are for".
"Always secured, now insured".
In the 1950s a great deal of emphasis was given this
phrase, "A local institution, conducted by local people, for
the benefit of local people". The combination of media adver-
tising and good will generated by satisfied customers has
made and kept Fidelity a household name for these many
years.
Title
Fidelity Federal Savings and Loan Association 100 Years (p. 31)
Description
[page 31]
[corresponds to unlabeled page 31 of Fidelity Federal Savings and Loan 100 Years]
FIDELITY AND THE COMMUNITY
Fidelity has always been community minded. Their
very first donations were made to the Delaware YMCA, long
since defunct, and to the equally old Commercial Club, a
service organization engrossed in beautifying the downtown
area. There has been always a special interest in support-
ing youth movements such as Junior Achievement, Dollars
for Scholars, Boy Scouts of America, Junior Fair and Hayes
High School band. Sports-wise, Fidelity has sponsored
softball and bowling teams.
Special need causes brought on by both World Wars
were assisted monetarially. Regular support has been
given to the Red Cross and the United Way and its predessors.
Chamber of Commerce membership was always a must as
was support of their projects. A sizeable donation once
was made to help keep K & W Rubber Company in Delaware.
Such diverse things ranging from the Soil Conservation Dis-
trict all the way to Ohio Wesleyan University's Music Ren-
aissance Project received Fidelity financial assistance.
Perhaps one of Fidelity's advertising slogans says it best,
"A local institution conducted by local people for the
benefit of local people."
[corresponds to unlabeled page 31 of Fidelity Federal Savings and Loan 100 Years]
FIDELITY AND THE COMMUNITY
Fidelity has always been community minded. Their
very first donations were made to the Delaware YMCA, long
since defunct, and to the equally old Commercial Club, a
service organization engrossed in beautifying the downtown
area. There has been always a special interest in support-
ing youth movements such as Junior Achievement, Dollars
for Scholars, Boy Scouts of America, Junior Fair and Hayes
High School band. Sports-wise, Fidelity has sponsored
softball and bowling teams.
Special need causes brought on by both World Wars
were assisted monetarially. Regular support has been
given to the Red Cross and the United Way and its predessors.
Chamber of Commerce membership was always a must as
was support of their projects. A sizeable donation once
was made to help keep K & W Rubber Company in Delaware.
Such diverse things ranging from the Soil Conservation Dis-
trict all the way to Ohio Wesleyan University's Music Ren-
aissance Project received Fidelity financial assistance.
Perhaps one of Fidelity's advertising slogans says it best,
"A local institution conducted by local people for the
benefit of local people."
Dublin Core
Title
Fidelity Federal Savings and Loan Association 100 Years
Subject
Banks--Delaware--Ohio
Centennial Celebrations--Ohio--Delaware--1887-1987
Delaware--Delaware County--Ohio
Centennial Celebrations--Ohio--Delaware--1887-1987
Delaware--Delaware County--Ohio
Description
This book recounts the history of the first 100 years of Fidelity Federal Savings and Loan Association (1887-1987) in Delaware, Ohio.
Creator
Author Ray Buckingham; Fidelity Savings and Loan Association
Date
1887-1987
Rights
http://rightsstatements.org/vocab/NoC-US/1.0/
Format
Book
Language
English
Type
Text
Identifier
22221035
Collection
Citation
Author Ray Buckingham; Fidelity Savings and Loan Association, “Fidelity Federal Savings and Loan Association 100 Years,” Delaware County Memory, accessed December 4, 2024, http://delawarecountymemory.org/items/show/201.