Today marks the 247th anniversary of the founding of the National Monte de Piedada nonprofit financial institution that has provided social assistance to millions of Mexicans since its creation in 1775.
A legacy of help: Founded by Pedro Romero de Terreroshe Real Monte de Piedad de Ánimas (today National Monte de Piedad) was born with the objective of combating usury and offering loans at low rates to the most disadvantaged classes. The institution has witnessed the history of Mexico, from Independence to the Revolution, always present as support for families in difficult times.
More than a pawn shop: The National Monte de Piedad is not only a pawn shop, but also an institution of social care. The dividends generated by its operations are destined to donations in areas such as health, education, employment and social development. In the last 10 years, the institution has donated more than 2.2 billion pesos to 450 private assistance institutions.
A cultural heritage: The Matrix house of the National Monte de Piedad, located in the Zócalo of Mexico City, is a historic building that houses a chapela gallery living room and a site museum. In this space you can find works of art, antique furniture and historical documents that tell the history of the institution.
In the year 1836 he acquired the houses marked with numbers 7 and 8 on Empedradillo Street (today Monte de Piedad Street) in which the house of the Spanish conqueror Hernán Cortés was located and, therefore, the Marquisate of Vale de Oaxaca (Cortés, in 1529, was named Marquis of the Valley of Oaxaca by Charles I himself). The houses were acquired through Lucas Alamán, representative of the Duke of Monteleone, who was in turn heir to Cortés.
At the beginning of the 20th century, the country was once again significantly convulsed as it experienced its revolutionary stage in 1910.
The lack of sources of work and the needs of people to bring economic support to their homes once again caused the National Monte de Piedad to acquire a leading role in society, with its collateral loans. There is a legend, unconfirmed, that states that Pancho Villa in one of his campaigns refused to storm the institution, considering it “the bank of the poor.” The stability of this healthcare institution is notable, which explains the trust that users have in it. That is why, even in the midst of the Revolution, it never closed its doors.
Present and future: The National Monte de Piedad remains at the forefront with new technologies and services for its users. It has 150 branches throughout the country and offers collateral loans, personal loans and other financial products.
A symbol of hope: The National Monte de Piedad is a symbol of hope for millions of Mexicans who have found in this institution support to get ahead in difficult times. His commitment tosocial assistance and his historical trajectory They make it a fundamental institution for the development of Mexico.
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