Quakers in Banking
Quakers played a leading role, starting in the 18th century, in the history of British banking.
For most of the Quaker families involved, this seems to have been an almost natural diversification from their other business interests. Quakers in business established a reputation for honesty and integrity, and people started entrusting money to them for safekeeping. Some of them also lent money to other business proprietors. From this it was a short step to the establishment of banks in a sense recognisable today. Some quickly became relatively important firms with customers across a wider geographical area; others remained smaller local concerns.
The main Quaker families involved were:
There were a number of intermarriages between these families.
Quakers also played a major role in banking in Ireland - mainly the Hoare family.
In 1868 a group of Quaker farmers founded Sandy Spring Bank, based in Maryland.
There is a dedicated category for Quaker Bankers: Quaker Bankers.
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