Dwelling House Savings and Loan Association (DHSL) is an FDIC-insured savings & loan institution that is dedicated to the local communities of Western Pennsylvania.
Commitment
Dwelling House was founded in the belief that home ownership and home rehabilitation should be available to the hard-working members of the communities that we serve. For over 50 years, we have strived to provide the highest quality of banking services to individuals and businesses. We are dedicated to cultivating strong personal relationships.
Dwelling House has made hundreds of loans to home owners. We take extra care and assume additional risk to help individuals that often have been turned away by large corporate banks. We recognize that everyone should have the opportunity to be a productive part of their community.
The marginal loans that we make require extra time for education and counseling. We diligently make this effort because we care about the people in urban communities. We approach our customers with respect. We provide encouragement and responsive financial counseling. We believe we are carrying out the Lord’s teachings to help our neighbor and, especially, the needy.
Read more about our commitment to being a Pittsburgh Community bank.
Impact on the Community
Dwelling House has made the majority of its mortgages to African-Americans. Today, Dwelling House focuses on prviding loans to all races. Due in part to Dwelling House's efforts, home ownership in the region has risen from fourteen percent in 1960 to over forty percent today.
History
Dwelling House Building and Loan Association of Pittsburgh (DHBLA) was chartered in July of 1890 in the Commonwealth of Pennsylvania. DHBLA attained assets of $500,000 prior to Federal Home Loan Bank organization. DHBLA assets dwindled to $67,000 in 1957. Subsequently, it was renamed Dwelling House Savings and Loan Association.
Robert R. Lavelle, an Afircan-American Hill District realtor, attempted to gain a mortgage on a nearby property in 1957. The Association could not comply due to withdrawals exceeding liquid assets. Open only a few days of the month, Lavelle suggested they open full time, but they could not, as there was no one to staff the office. Lavelle suggested that they share space with his firm, Lavelle Real Estate, so they could afford to staff DHBLA until it grew. The Board of Directors then met, made Robert R. Lavelle a director and secretary, and moved into his real estate office at 3001 Centre Avenue, Pittsburgh, Pennsylvania, 15219, in August of 1957.
The late Judge Henry R. Smith joined the board as solicitor, with the late Norman P. Hardy, former President of the Association, constituting the three African-American directors of the total nine. Uninsured, growth was slow, going from $67,000 in 1957 to $130,000 in 1968, the year in which Martin Luther King was assassinated. Over time, the Board of Directors changed to reflect an African American majority, as it stands today.
With the riots that followed Martin Luther King Jr.'s death, the incentive to mount a campaign to become insured had begun. Since we were known to make the high-risk marginal loans in disadvantaged areas, as well as the "safer" loans, many civic groups, the Allegheny Conference on Community Development (the corporate structure of the city), and individuals, formed a committee to get subscribers to save when insured. The Federal Home Loan Bank had 15 insurance requirements, two of which were separate ground floor locations, separate from any other business, (achieved through Lavelle Real Estate’s purchase of the building at 2909 Centre Avenue, corner of Herron Avenue and dividing it), and 750 savers with $100,000 in combined assets. On July 31, 1970, with over 900 savers $534,000 in assets, and over $600,000 subscribers to save, Dwelling House Building and Loan Association was insured by the FSLIC, now SAIF. First Federal Savings and Loan of Pittsburgh, headed by Harold Tweedy, and its officers and staff were very helpful to us during this time. First Federal Savings and Loan is now part of Pittsburgh National Bank. In May, 1972 our Charter was amended to change our name to Dwelling House Savings and Loan Association. At the end of 1970, our assets were $1,528,642.
As a Christian, Robert R. Lavelle considers this business to be directly related to his ministry. The requirement to serve the needs of others in the total sense of human need is spiritual, educational, and economic. The Board of Directors agree.
