Banco Crédito y Ahorro Ponceño
Banco Crédito y Ahorro Ponceño (Ponce Credit and Savings Bank) was the first bank in Ponce, Puerto Rico, and one of the first two native Puerto Rican banks to be established in Puerto Rico. The bank was the first one to introduce a bank credit card to the Puerto Rican market. With over 50 branches throughout the island, the bank was one of the largest banking companies in Puerto Rico during most of the twentieth century.
| Company type | Private |
|---|---|
| Industry | Banking |
| Founded | Ponce, Puerto Rico (1895) |
| Defunct | 1 April 1978 |
| Headquarters | Ponce, Puerto Rico |
Key people | Antonio S. Arias Ventura, (1880-1963) General Manager, Service years: 1895-1963 |
| Products | Credit cards, Savings Accounts, Personal loans, Business loans |
| Total assets | $800 million (in 1975) |
Number of employees | 1,500 (in 1975) in 50 branches (in 1975) |
Founded in 1895, Banco Crédito built its own first banking structure in 1924 at Calle Marina and Callejón Amor, in Ponce. This first branch office, located in what is today the Ponce Historic Zone, has since been declared historic and was listed in the National Register of Historic Places.
The bank collapsed in 1978 and was acquired by the Federal Deposit Insurance Corporation. Its accounts and assets were purchased by Banco Popular de Puerto Rico and Banco Santander.