In November 1818, twenty “philanthropic gentlemen” having seen what was done in other cities, convened a meeting to form Sheffield's own savings bank.
The list of twenty included three JPs, five connected with the Cutlers’ Company, a Town Trustee, a banker and sundry manufacturers.
Hugh Parker, a magistrate and banker was in the chair and it was duly resolved to establish the Sheffield and Hallamshire Bank for Savings (later shortened).
A subscription list was opened for “starting funds “and it raised £175, led by the Duke of Norfolk with 30 guineas.
[1] Horne described the Sheffield Savings Bank as “easily the most important of the thirty-nine started in 1819.”[2] Despite the illustrious backing, when the Bank opened in March 1819 it was only in a room lent by the Cutlers’ Company in their hall, with the hours of business confined to two hours on Monday and Tuesday.
With the imminent demolition of the Cutlers’ Hall, new accommodation was needed; a new building on Eyre Street was developed.
An approach from Chesterfield residents for a new branch was resisted but an investment department offering better returns was started in 1877.
In 1918 the Bank had 219 accounts carried out by teachers under the Sheffield Education Committee; these in turn had 40,000 depositors contributing £53,000 of deposits.