History of Hershey Trust Company
Read below to see the rich history of the Hershey Trust Company.
Introduction
In early 1903, while he made plans to break ground for his chocolate factory in a field near the tiny community of Derry Church, Pennsylvania, Milton Hershey thought about the needs of his future workers. He had the foresight to recognize that if his chocolate making idea was to work for the benefit of all, he would need a place for his workers to live self-reliant, independent lives. They would need comfortable homes, health and recreational facilities, and schools for their children.
Milton Hershey was more than a dreamer. He was a man of action. While the chocolate factory was still under construction, he began to implement his ideas for a model industrial community. In 1905 the Hershey Chocolate factory began operations. That same year Milton Hershey established Hershey Trust Company to serve as the community’s bank in accommodating its financial needs. A state charter was granted on April 27, 1905 and Hershey Trust Company opened for business on June 15, 1905 in offices located in the Cocoa House, the first commercial building built in the new community. A published brochure advertised a wide scope of banking services. In addition to handling the Hershey business payrolls, the Trust Company offered savings accounts, mortgages, and commercial and personal loans. [Read more...]
