The Bank for Savings

For no one can lay a foundation other than that which is laid, which is Jesus Christ. Now if anyone builds on the foundation with gold, silver, precious stones, wood, hay, straw—each one's work will become manifest, for the Day will disclose it, because it will be revealed by fire, and the fire will test what sort of work each one has done. If the work that anyone has built on the foundation survives, he will receive a reward. If anyone's work is burned up, he will suffer loss, though he himself will be saved, but only as through fire. (1 Corinthians 3:11-15 ESV).

In July of 1819 the first savings bank opened in the United States in New York City. It was called “The Bank for Savings.” A savings bank was, until recently, a financial institution that performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. A common form of savings bank, the mutual savings bank, was traditionally the only type that accepted savings deposits exclusively. Mutual savings banks are state-chartered institutions, owned by their depositors and managed for their mutual benefit by self-perpetuating boards of trustees. A credit union or a savings and loan association may also receive savings deposits. However, due to extensive deregulation in the banking industry, primarily during the 1980s, the distinction between savings banks and other financial institutions has become increasingly hazy.

It’s very interesting how much we have come to rely on such institutions. We have IRA’s, mutual funds, certificates of deposit, and investments of all kinds to choose from in preparing for our future. All of these are an important part of our financial future. However, the Apostle Paul understood how important other things were in comparison. Let me make some practical suggestions in some “investments” you may make for the future.

1. First, invest in the development of others. While you may not have formal training in this area, you have unique experiences that can be helpful to others as they seek to make decisions in their lives. Put some time into the lives of others by sharing with them your own life.

2. Second, invest in practice of prayer. So often we turn to prayer as a last line of defense against the challenges of the world. It ought to be the first thing we do in the face of life. When I hear someone say, “all I can do is pray about it,” it is an indicator that they don’t really understand the true nature of prayer. Spend time in prayer.

3. Third, invest yourself in specific study. A friend of mine is a wonderful example of this. He has spent the last few weeks studying the Scriptures dealing with the Second Coming of Christ. He has written a very insightful and thorough paper detailing his research. It was wonderful to see how with each day he found more and more information. It was as if he were uncovering layers of earth digging for more and more treasure buried beneath. With so many tools at our fingertips, invest yourself in serious study.

4. Fourth, invest yourself in worship. Praise and worship is an investment that brings immediate blessing. God desires to lavish you with His presence. Put some time everyday into just being alone with Him.