Downtown Silver Spring in Montgomery County, Maryland — The American Northeast (Mid-Atlantic)
Modern Banking
Landmark Architecture
— Silver Spring Georgia Avenue Heritage Trail —
Designed by BB & EC and leading Washington, D.C. architect Robert O. Scholz, Perpetual's glass, limestone, and Carnelian granite exterior symbolized permanence and protection of depositors' funds. This landmark building's construction marked the birth of Silver Spring as a suburban financial center. Its presence attracted additional banking establishments to the intersection of Georgia Avenue an Cameron Street, culminating in The Evening Star dubbing the corner in 1961 as "...fast becoming Silver Spring's Little Wall Street..."
Perpetual was founded in 1881 in Washington D.C. by the St. George's Society a group of poker-playing Englishmen who pooled their resources to help members purchase new homes in the nation's capital. Perpetual's long-lived success was pioneered and nurtured by President Edward C. Baltz.
With the motto "Dedicated to Thrift," Perpetual evolved into the Washington area's largest savings and loan, and for nearly two decades the nation's largest. It was the first S&L to provide loans to African-Americans to purchase homes in any neighborhood, and the first (1970) to appoint an African American to its board, William S. Harps.
Erected 2013 by The Silver Spring Historical Society.
Topics. This historical marker is listed in these topic lists: African Americans • Industry & Commerce. A significant historical year for this entry is 1958.
Location. 38° 59.848′ N, 77° 1.796′ W. Marker is in Silver Spring, Maryland, in Montgomery County. It is in Downtown Silver Spring. Marker is at the intersection of Georgia Avenue (Maryland Route 97) and Camron Street when traveling south on Georgia Avenue. Marker is on the northwest corner of Camron Street and Georgia Avenue, just south of the SunTrust bank at 8700 Georgia Avenue. Touch for map. Marker is at or near this postal address: 8700 Georgia Avenue, Silver Spring MD 20910, United States of America. Touch for directions.
Other nearby markers. At least 8 other markers are within walking distance of this marker. 24-Hour Service (here, next to this marker); Building Blocks (about 800 feet away, measured in a direct line); Silver Opportunity (about 800 feet away); Blumen Lumen (approx. 0.2 miles away); Charles Drew (approx. 0.2 miles away); J. Craig Venter (approx. 0.2 miles away); The Silver Spring Shopping Center (approx. 0.2 miles away); Ellen Stofan (approx. 0.2 miles away). Touch for a list and map of all markers in Silver Spring.
Also see . . . Perpetual Building Association Silver Spring Branch. report by EHT Traceries, Inc. (Submitted on July 22, 2013, by Allen C. Browne of Silver Spring, Maryland.)
Credits. This page was last revised on May 25, 2023. It was originally submitted on July 22, 2013, by Allen C. Browne of Silver Spring, Maryland. This page has been viewed 1,191 times since then and 15 times this year. Photos: 1, 2, 3. submitted on July 22, 2013, by Allen C. Browne of Silver Spring, Maryland. 4, 5. submitted on July 23, 2013, by Allen C. Browne of Silver Spring, Maryland. • Bill Pfingsten was the editor who published this page.