Rosedale Baltimore County Maryland MD Bank Savings and Loan History 1908-2008

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Rosedale Federal has deep roots in the Baltimore area and we’re proud to be part of the communities we serve. At the turn of the 20th century, Rosedale was primarily a farming community. One prominent business was Seward’s General Merchandise Store on Philadelphia Road. It was a place where farmers could shop for all types of supplies. It was also a place to congregate and talk.

It was there, in 1908, the idea was born to establish an Association to serve two purposes: give neighbors a secure place to deposit and save money — and make loans available to buy land and homes. The Association would equally benefit all of the people who deposited money, not just the officers and directors.  Charles Seward and nine other original founders pooled their $71 in assets and formed the Rosedale Permanent Building and Loan Association. They began to make loans and take deposits. It so happened that the feed store had a safe, so it became the Association’s central location. At the end of the first year, the Association recorded $4,910 in loans and $204 in reserves.

Baltimore County saw healthy economic growth throughout the 20th century and so did the Association. Today we’re known as Rosedale Federal Savings & Loan Association, which now has thirteen branches and assets of approximately $1.3 billion. At its core, Rosedale Federal has not changed. Our purpose remains to help our neighbors with everyday finances and affordable home loans. The bank is still a mutual Association, owned by its depositors, not a group of investors and shareholders. Rosedale Federal is a strong, stable financial organization that will continue to evolve to meet the needs of our customers.

About Rosedale, Maryland:

The origin of the name Rosedale is not documented with certainty. However, a 1950 fourth grade class was told to interview family and friends about the history of the Rosedale community. From that activity came an explanation. A young Englishman had a farm on Hamilton Avenue just above Philadelphia Road. His farm had numerous roses. Since his name was Dale and the roses were so lovely, the townspeople settled on the name of Rosedale.

Rosedale, a community northeast of the city of Baltimore, was a plantation and later farming community, from the time of the first settlers and their slaves, until suburban development began after World War II. Maryland Route 7, which runs through the community, was originally the Philadelphia Road. George Washington traveled it to New York in 1789 where he was inaugurated as the first American president.

In the latter part of the nineteenth century, this area was settled by new waves of immigrants, mostly from Germany and Poland. A 1940 article was written about the 59th wedding anniversary of Charles Schatzschneider and his wife; they had been immigrants who settled in this area. Charles Schatzschneider was born in Germany in 1859 and came at the age of 13 to the United States as a farm laborer. He settled in Rosedale, where he later married. He and his wife raised 15 children. During their lives they saw the area develop from a rather primitive rural community to one with gas and electric lighting, water and sewerage systems and paved streets. New electric trains passed rapidly through the community. When this couple had first come to the area, great three-masted schooners could sail all the way up Back River to the heading.

On 8 March 1909, a man named William Ramsey was lynched in the town.[3] The first school, a wooden building with two rooms, was built on the corner of Hamilton Avenue and Philadelphia Road. By 1950 it was used as a fire house and hall.

Beginning in the 1950s, aided by federal subsidies of new highways, new residential development was built in the suburbs of Baltimore and other major cities. Rosedale grew steadily as a residential suburb. Three quarters of the housing units existing in 1990 were built between 1854 and 1979.