The creation and early development of a savings and loan industry in America reflected many of the broad social and economic changes that occurred during the nineteenth century. Building and loan associations (B&Ls) first appeared in 1831 as a way to help working-class men and women have the opportunity to become homeowners. B&Ls patterned themselves after the British building societies that pioneered a system of home finance based on systematic savings and mutual cooperation between society members. While the American thrift business grew slowly during the first forty years of its existence, growth accelerated in the 1880s, and soon thrifts were in operation across the country. While a steady stream of innovations designed to make thrifts more efficient accounts for part of this growth, the businesses also benefited from increased publicity by thrift leaders directed at both the working class and Progressive era social reformers. These people portrayed B&Ls as being part of a self-help movement capable of improving the lives of working-class men and women and alleviating many of the social ills affecting industrial cities. Although these changes led to strong business expansion, their success also spawned the creation of “national” B&Ls whose primary objective was to enrich their organizers at the expense of their members. The failure of these fraudulent thrifts during the 1890s significantly tarnished the image of the thrift business, but the “nationals” crisis also led to the formation of state and national trade associations, called Leagues, intent on promoting and protecting B&L business interests.