Reposition
Watseka, Illinois
On May 3, 1883, the Iroquois Building and Loan Association, the predecessor of Iroquois Federal Savings and Loan Association, was chartered by the State of Illinois. These types of cooperative home financing organizations referred to in the laws of 1879 as "mutual building, loan and homestead associations" were just beginning to flourish. In August 1936, the association obtained a federal charter and became a member of the Federal Home Loan Bank of Chicago and the Federal Savings and Loan Insurance Corporation.
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