Services

MUNICIPAL SAVINGS BANK OF VITORIA (1895-1990)

Forecast.

Although it was the Caja de Ahorros y Pr stamos de LAVA that would end up managing relations with the Instituto Nacional de Previsi n (INP) and dealing with social security, the Municipal Bank introduced in its Statute of 1914 the possibility of so-called second-level savings. These savings had to be long-term, which would allow it to obtain sufficient capital to reach a retirement pension. The Bank established retirement savings books and contacted the INP and began to work with school mutual funds as a way of spreading social security among the child and youth population. It tried to obtain the title of Collaborator of the INP, but in the end it was the Provincial Bank that obtained this title, having to transfer in 1924 to the other Bank the operations that it had carried out until then (see CAJA PROVINCIAL DE AHORROS DE LAVA ).