Bank of the People Montreal in 1840. Until 1835, every bank in Upper Canada required a legislated charter which established it as a legal person able to sue, and be sued at law. Only two Banks had been chartered: the Bank of Upper Canada and the Commercial Bank of the Midland District. Both banks were controlled by the "Family Compact" who used their control of the currency supply and credit to control trade and ultimately, the farmers. They had a "licensed monopoly" to print paper money, which reduced competition. In 1835, Dr Charles Duncombe, a Reform politician in the Legislative Assembly, was part of
The Village Bank and businesses of Washington and Iron Counties. The bank was organized by a group of local businessmen that were concerned about the void of a locally owned and controlled financial institution. Since inception, The Village Bank has experienced excellent growth, with most years exceeding 25%. Total assets currently exceed $200 million. Effective May 23, 2012, The Village Bank will complete a sales transaction in which Cache Valley Bank will acquire the Sunset, River Road, and Cottonmill offices. The Village Bank will continue to operate independently and serve your banking needs at the Main Office at 294 E Tabernacle in St