History of Pioneer Bank

Roswell Savings & Loan Association merged with Equitable Building & Loan Association  in May, 1974.  We changed our name in April of 1975 to Pioneer Savings and Trust in an effort to reflect the broader scope of activities in which we were engaged.

Original branch was located at Sudderth & Chase.  Current location is 1095 Mechem.

The new branch in Alamogordo is located at 1020 10th St.

The new offices are located at 306 N. Pennsylvania Ave. in Roswell, New Mexico

Through joint efforts of many, the Association weathered the depression years and established the Association as a sound financial institution serving Roswell and the Pecos Valley. The Association became a member of the Federal Home Loan Bank system on February 1, 1933; and its accounts were insured by the FLSIC on September 15, 1936. By

Pioneer Bank opened its doors on February 18, 1901 as the Roswell Building & Loan Association in Roswell, New Mexico, to meet the need for capital to finance home construction. Over the past century, Pioneer Bank has grown into southern New Mexico’s number one community-based institution for business and personal banking. The Association’s capital goal

The first President on the Board of Directors was D.S. Rosenwald. The first Directors were W.T. Jones (Vice-President), J.M. Hervey (Secretary), L.K. McGaffey (Treasurer), Nathan Jaffa, George Bixby, L.W. Martin, E.A. Cahoon, E.P. Rasumssen, Charles W. Haynes and W.T. Jones. Our Presidents throughout the early years also included Nathan Jaffa, 1902-1903 and 1906-1907; C.C. Tannehill,

The original meeting of the stockholders was held on December 27, 1900. A committee of nine was chosen to prepare the charter and by-laws, which were filed with the Secretary of the Territory of New Mexico and approved by the stockholders on April 5, 1901.