A view of the lobby of Zion’s Savings Bank and Trust Co., later shortened to Zions Bank, in the late 1800s. In the
right foreground is Bernhard Schettler, appointed assistant cashier by Brigham Young in 1873.
In October 1873, at the height of one of the worst banking crises in U.S. history, a pioneer savings bank opened in the Utah Territory. Earlier that year, Church of Jesus Christ of Latter-day Saints President Brigham Young had become concerned about a financial crisis spreading across the nation and gathered a group of prominent citizens to organize a savings bank.
On its first day of business, Oct. 1, 1873, Zion’s Savings Bank and Trust Company recorded deposits of Please log in to see the rest of this story.
