Inspired, the Reformers, led by James Lesslie, a prominent Toronto businessman and Reform city alderman, then founded the Bank of the People on Nov. 4, 1835, seeking to limit shareholders to known Reformers. Dr John Rolph was elected president, and James Lesslie the cashier (manager). Among its stockholders were David Willson and the Children of Peace who operated the first credit union in Canada in their village of Hope. Sir Francis Hincks, head cashier at the Farmer's Bank, later became cashier at the Bank of the People and Lesslie became president.