The Kirtland Safety Society (KSS) was a quasi-bank organized in 1836 (and reorganized on January 2, 1837) by leaders and followers of the Church of the Latter Day Saints. According to KSS's 1837 "Articles of Agreement", it was intended to serve the banking needs of the growing Mormon community in Kirtland, Ohio. Its preamble stated it was:
- ...for the promotion of our temporal interests, and for the better management of our different occupations, which consist in agriculture, mechanical arts, and merchandising.
However, by November 1837, KSS failed and its business closed. In the aftermath, Joseph Smith, founder of the Latter Day Saint movement, was fined for running an illegal bank, and many bankrupted Mormons left the church because they believed Smith had established the bank in order to enrich himself and the Mormon leadership.
Read more about Kirtland Safety Society: Economy in Kirtland, KSS Organization, National Bank Crisis, Opposition and Failure, Response in The LDS Community, Kirtland Safety Society Notes
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