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Valley Exchange Bank celebrates over 100 years of service in Lennox

Valley Exchange Bank was founded in Lennox in 1883 by Bernard C. Jacobs. After surviving a series of financial panics in 1893 and 1907, as well as the Great Depression and World War I and several relocations within Lennox, the bank is still a distinguished institution with the distinction of having the oldest branches in both Lennox and Tea.

Erling Haugo purchased controlling interest in the bank in 1960. He served as Valley Exchange’s president until his son, Roger, was named to the post of president. Over 25 years later, Roger still oversees the bank’s operations and regularly works at both the Lennox and Tea branches.

In addition to the main branch in Lennox, the bank also operates the Exchange Insurance office. As well as having the area’s oldest banking branches, the company also has some of the longest standing employees. Carol Wulf works at the main branch in Lennox, where she has been employed for 50 years now. “Roger is great to work for,” said Judy Weber, a fellow longtime Valley Exchange employee at the Lennox branch. “He treats his employees like family.”

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