Where is the closest Comerica Bank?
The Comerica Bank stands as the lightning light of power through Civil Wars, World Wars, Great Depression, the 20th century economic and political turmoil, the Great Recession, and more than two-decade into the 21st century.
This light was bright in Detroit for the first time in more than 170 years and now hits Arizona, California, Florida, Michigan, and Texas markets across Canada.
On August 17, 1849, Comerica opened a city full of boatyards, river trading and snaking factories, caravans, and dirt roads. Comerica is known originally as Detroit Capital Fund Institute. The same day it had six clients with a total of $41 in receipts. The support rose to more than 300 in two years and the tally to 25,000 dollars.
The Institute, unlike the majority of the banks, paid interest on deposits, did not have any shareholders or shareholders, and was controlled by unpaid trustees. The Institute enjoyed steady growth, reaching $1 million in 1870, courting working-class clients, traders, and even children.
Over the next 30 years, the business has undergone many changes, including a new name, the Detroit Savings Bank, and over 6 million dollars in deposits.
Detroit experienced a boom at the turn of the century when the automotive industry was born. Detroit Savings Bank flourished in favor of a meteoric rise in the next two decades until the fatal collapse of its stock market in October 1929.
The stock market devastation meant capital shortages, which culminated in a lack of car sales and eventually layoffs in Detroit. The bank industry encountered a crisis with declining deposits, decreasing savings accounts, and credit default, though Detroit Savings Bank remained unchanged. In 1933, the flood of cash and new customers was unusual.
In addition to actively pursuing commercial accounts, Detroit has agreed with improved faith and customer service to help Detroit retrieve its financial footprint and become the first area bank to sell mortgages to the Federal Housing Administration.
A new name was the Detroit Bank, more branches, and the chance to retain and broaden commercial accounts, which saw the end of the narrow 1930s. With the start of the second world war, over 100 of the Bank's respected workers went to war. When the majority of the male counterparts leave to support the fight, women take the opportunity to become members of the bank and fill vacant roles.
During the war, Bank President Joseph M. Dodge was an employee who made a big difference. Dodge signed contracts with the Air Force, led the War Contract Council, and after the war, served in collaboration with the German and Japanese governments in helping to rebuild the economy. He was awarded the highest civil war decoration, the Merit Medal, and the Japanese emperor also honored him.
Detroit's adventure as Detroit stepped into the fascinating 1950s poodle skirts, sock hops, television, and rock music. A big move forward was made and in 1956, Detroit Bank and Trust were established with the National Bank of Birmingham, Ferndale National Bank, and the Wabeek Bank & Trust Company.
What began more than 100 years earlier in the years of innocence with a mere $41 went into the tumultuous 1960s with over one billion dollars of assets. Personally as well as professionally, people were on the move and the Bank helped develop their houses, vehicles, and educational activities. The Bank installed its first computer for processing and recording checks to keep track of the times.
Typical Hours of Operation
Mo 9:00 - 17:00
Tu 9:00 - 17:00
We 9:00 - 17:00
Th 9:00 - 17:00
Fr 9:00 - 17:00
Sa 9:00 - 12:00
Locations: 445 locations in 24 states and 204 cities.
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