>>About Us

 

At Imperial Savings & Loan Association customer service is our number one priority. We are a small and friendly financial institution. You, our customer, are our neighbors and we want to give you our best service anytime you call, walk in the door, or email us. Over the years, we have listened to our customers and what their needs were and now offer a full array of services: 1st and 2nd mortgages, automobile, educational, personal, and other loans. We also have passbook savings, Christmas clubs, certificates of deposit, individual retirement accounts (IRA’S), and checking accounts. If you need money orders, traveler checks, wire and/or fax services, direct deposit, or notary services, we can service you. Our products and services provide you all the conveniences of efficiently managing your funds. Our savings and investment products pay competitive rates thereby allowing you to maximize your earnings potential. All accounts are FDIC insured.

Commitment to community and service has long since been the goals of Imperial Savings & Loan Association. In 1927, William Cody Spencer met with a group of men who wanted advice on what to do with money they had. On July 16, 1929, Imperial Savings and Loan was chartered with $300.00 (three hundred dollars) capital. Spencer continued to run the business from his basement while working in an area factory. He served as Secretary/Treasurer Managing Officer until July 1959, when his health became impaired. Spencer worked house to house during this thirty- year period for practically no salary. Imperial Savings and Loan Association has since been fulfilling the needs of the community. In June 1959, Imperial moved to a formal office at 33 Spencer Street and converted from a stock corporation to a mutual organization in September 1961. Dr. Harry P. Williams managed the office for several years. Mr. William B. Muse, Jr. served for many years as President until retiring in 1993. During his tenure, the business expanded to its Fayette Street location in December 1980. In 1993, Mr. Kelvin G. Perry assumed the position of President and checking accounts were introduced as well as computerized processing of accounts. Mrs. Simone H. Redd became President in 1999 and became the first woman president in the association’s long history. The association recently reached soaring heights by attaining assets over nine million dollars and a record income-producing year in 2001 – 2002 ($86K). We remain the only African-American savings and loan association in the commonwealth of Virginia. Many men and women have also dedicated their time and energy into what Imperial has become today. For this we are grateful.

Imperial remains a mutual association. This means our depositors – not stockholders, own us. Instead of paying dividends on stock, we offer our customers better interest rates, personal service, and support our community. We operate for the benefit of our customers and know most of them by name. We focus on pleasing customers rather than stockholders.

Imperial Savings and Loan Association has a plan that is right for you and we want the opportunity to show you. Our founder, Mr. Spencer, had a motto of “Service,” and that remains in place today. We are the financial institution for people of all ages and backgrounds and will continue in the tradition of our pioneers, to uphold our mission: “Service, Our Commitment to You.”

COME SEE US AND WE WILL GIVE YOU THAT SPECIAL PERSONAL TOUCH THAT RECOGNIZES YOU AS A PERSON RATHER THAN JUST AN ACCOUNT NUMBER.