World Savings Bank – looking back at its history

With so many financial institutions surrounding people today, one would definitely find a hard time going to the right one.  Fortunately, there are those that are worldly-recognized and universally-trusted, which people can rely on immediately.  Some have been in the business for more than a couple of decades, while others have just been starting for a couple of years.  People are very particular on a financial institution or a bank’s history, services, products, etc., that’s why, with such market competition, the more recognized the bank is, the better. 

One of the movers in the financial industry is the World Savings Bank.  Being in this industry for almost a century now, with more than US$130 billion in assets, and a growing diversity of products, one can surely say that it has evolved to becoming a legend on its own. 

So, let’s first take a look back at the history of the World Savings Bank to see a significant financial institution’s evolution.  By tracing its history, you’ll see that it’s through merger and acquisitions that World Savings Bank has turned to be one of the major banks in the US.  World Savings bank was established in Madera, California in 1912.  In 1959, the World Savings of California became a subsidiary of Trans-World Financial Corporation, a savings and loan holding company; in this same year, Trans-World acquires Colorado’s Guardian Savings and Loan, and later renamed it to World Savings Colorado. 

Through its acquisition of the Bell Savings Banc in 1985 that World Savings bank has entered Texas.  In 1990, World Savings bank entered New Jersey by purchasing Community Federal Savings.  By acquiring Beach Federal in 1991, World Savings bank has extended to Florida.  World Savings bank expanded to Arizona with its purchase of the Security Federal Savings.  It opened its first branch in Illinois in 1998, in  Nevada in 2001, and in New York in 2004.  In 2006, World Savings Bank is acquired by Wachovia Corporation.  

With its colorful history, one can say that they weren’t just doing nothing; they didn’t just wait in the sidelines, they worked for it.  No wonder they’ve expanded and served clients in 10 states with over 285 savings branches.

Because of its rich history and present status in the industry, it looks like World Savings Bank is here to stay.  If it continues to improve its services and products, it is very likely that the World Savings Bank will continue to expand, spread, and conquer America and even the world.  It just shows that in this business, when the company just makes the clients and customers the first priority, then it will surely go a long way.