A blog about living in Aberdeen, New Jersey.

Sunday, May 13, 2012

History: Liberal Building and Loan Association, Matawan (1946)

The 14 February 1946 edition of The Matawan Journal, pg 3, shows just what a World War II veteran could expect upon his return to the States. The GI Bill almost guaranteed soldiers a new house and a reasonable loan to pay for it. Boy, how things have changed.

The ad reads: PRIZED POSSESSION! You, too, can have a home and at a price within your means. All you need is a modest down-payment, and monthly rent-like installments which are fitted to your income. Let us explain our home loan plan to you soon. (Member: Federal Home Loan Bank System)

The above advertisement was for the Liberal Building and Loan Association, 159 Main Street, Matawan, NJ. That address, which is right across Park Avenue from the Matawan-Aberdeen Public Library, is currently the location of the Edward Jones investment firm.

Liberal Building and Loan Association of Matawan was incorporated on 13 February 1920, according to the State of New Jersey Annual Report of the Commission of Banking and Insurance Relative to Building and Loan Associations, 30 June 1920, pg viii, as found at Google Books. The company operated over 70 years and then closed its doors. All of its assets were to be sold to the Red Bank Savings and Loan Association of Red Bank,NJ in late 1971 or early 1972, according to a public notice in the 4 November 1971 edition of The Red Bank Daily Register, pg 27, col 7.


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