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New Age Federal Savings and Loan
1401 North Kingshighway Boulevard
Open to public / Not Open to public
Several savings and loan entities were established by African-American businessmen to assist would-be homeowners. The New Age Savings and Loan Association of St. Louis was founded in 1915 by William L. Frank and was Missouri's first Black-owned financial institution. It provided loans and mortgages for home construction and purchase. The association was key in financing homes, churches, and businesses for St. Louis’s African American community. The institution expanded over the decades, gaining a federal charter in 1955 and became the New Age Federal Savings and Loan Association.
Leadership transitioned after Frank's death in 1954, with Bige Wyatt and, later, Walter A. Younge overseeing growth until the 1980s. In 1991, the Resolution Trust Corporation (RTC), a federal agency tasked with overseeing financial institutions impacted by the savings and loan scandals of the 1980s and 1990s, took over New Age Federal Savings and Loan. RTC restructured New Age as the Federal Savings Association
and sold it to Commerce Bank in 1992.
SOURCE: The historical information presented on this page is adapted with permission from Discovering African American St. Louis: A Guide to Historic Sites by Dr. John A. Wright, Sr. We are honored to share his invaluable research and historical insights, made available through the generous consent of Dr. Wright and the Missouri Historical Society Press. Their dedication to preserving and celebrating the rich legacy of Black St. Louis is a gift to our community—a testament to those who came before us and a guide for those who walk the path forward.
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1401 North Kingshighway Boulevard