Modern Banking

Modern Banking (HM19KG)

Location: Silver Spring, MD 20910 Montgomery County
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Country: United States of America
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N 38° 59.848', W 77° 1.796'

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Landmark Architecture

— Silver Spring Georgia Avenue Heritage Trail —

The 1958 Perpetual Building Association office at 8700 Georgia Avenue is the finest example of Mid-Century Modern architecture in Silver Spring. The University of Maryland study Modern Movement in Maryland extols Perpetual as a "pristine and superior example of the statewide and national output of the Bank Building and Equipment Corporation of of the best examples of commercial modernism from the 1950s in the Mid-Atlantic region."

Designed by BB & EC and leading Washington, D.C. architect Robert O. Scholz, Perpetual's glass, limestone, and Carnelian granite exterior symbolized permanence and protection of depositors' funds. This landmark building's construction marked the birth of Silver Spring as a suburban financial center. Its presence attracted additional banking establishments to the intersection of Georgia Avenue an Cameron Street, culminating in The Evening Star dubbing the corner in 1961 as " becoming Silver Spring's Little Wall Street..."

Perpetual was founded in 1881 in Washington D.C. by the St. George's Society a group of poker-playing Englishmen who pooled their resources to help members purchase new homes in the nation's capital. Perpetual's long-lived success was pioneered and nurtured by President Edward C. Baltz.

With the motto "Dedicated to Thrift," Perpetual evolved into the Washington area's largest savings and loan, and for nearly two decades the nation's largest. It was the first S&L to provide loans to African-Americans to purchase homes in any neighborhood, and the first (1970) to appoint an African American to its board, William S. Harps.
HM NumberHM19KG
Year Placed2013
Placed ByThe Silver Spring Historical Society
Marker ConditionNo reports yet
Date Added Friday, October 17th, 2014 at 7:15am PDT -07:00
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Locationbig map
UTM (WGS84 Datum)18S E 324210 N 4318455
Decimal Degrees38.99746667, -77.02993333
Degrees and Decimal MinutesN 38° 59.848', W 77° 1.796'
Degrees, Minutes and Seconds38° 59' 50.88" N, 77° 1' 47.76" W
Driving DirectionsGoogle Maps
Area Code(s)240, 301, 202
Closest Postal AddressAt or near 8584-8598 Cameron St, Silver Spring MD 20910, US
Alternative Maps Google Maps, MapQuest, Bing Maps, Yahoo Maps, MSR Maps, OpenCycleMap, MyTopo Maps, OpenStreetMap

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