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The Very First Savings Banks, Created in the Late 1700s

Question 5

Multiple Choice

The very first savings banks, created in the late 1700s and early to mid-1800s, were meant to serve what function?


A) The first savings banks were focused on middle-class and wealthy families.
B) The first savings banks were an attempt to provide financial services to poor and working-class families.
C) The first savings banks operated like savings and loans, providing a place to save and a way to fund the building of homes for the poor.
D) The first savings banks offered little on savings but charged high interest on loans.

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