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Minority Banking Timeline


Clara E. Westropp

Clara Westropp and her sister Lillian co-founded the Women's Savings & Loan Co. in 1922, along with a group of business and professional women.

Clara was born July 7, 1886, in Cleveland and graduated from West High School and the Dyke School of Commerce. She later went on to study at the Savings & Loan Institute in Mercersburg, PA. She and her sister felt strongly that women could start a savings and loan association directed and run by women. Originally organized under a state charter, the Women's Savings & Loan Co. was reorganized under a federal charter in 1935 and renamed the Women's Federal Savings & Loan. Clara replaced her sister as president after Lillian retired in 1957. Clara Westropp died in Cleveland on June 25, 1965.


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