Then and Now: One of the first three branches of the Melton Building Society was located in Grantham

The Melton Mowbray Building Society was established in 1875 and is one of the oldest established current building societies in the country, writes Ruth Crook of Grantham Civic Society.

The initial three branches were at Melton Mowbray, Oakham and Grantham.

It was first reported in the Grantham Journal in January 1876, and success was wished to this new venture. In March that year it was reported that a monthly meeting of the society was held in the Temperance Hall in Grantham.

There were several new subscribers, which brought the number of shareholders to 190. Several applications had been made for advances on loans and each was considered by the directors, one of who was Mr Garner. In August of that year the meetings were moved to quarterly, and the directors met once again ‘for the purpose of allotting shares and transacting the ordinary business of the Society’.

It was reported that all the money whch had been subscribed had been advanced to shareholders on satisfactory security. The directors have every confidence in the ultimate success of the Society, and recommend persons thinking of becoming members to obtain copies of the rules, which give all necessary information.’