“On the 2nd of November the brethren at Kirtland drew up certain articles of agreement, preparatory to the organization of a banking institution, to be called the ‘Kirtland Safety Society.’ ” History of the Church, Vol. 2, p. 467, November  2, 1836

When the articles of agreement were adopted, this institution was officially named the “Kirtland Safety Society Anti-Banking Company.” Ibid. p. 471, January 2, 1837

Joseph Smith stated, “It is wisdom and according to the mind of the Holy Spirit, that you should call at Kirtland [Ohio], and receive counsel and instruction upon those principles that are necessary to further the great work of the Lord, and to establish the children of the kingdom, according to the oracles of God; as they are had among us: and further, we invite the brethren from abroad, to call on us, and take stock in our Safety Society; and we would remind them also of the sayings of Isaiah, contained in the 60th chapter and more particularly the 9th and 17th verses,…Also 62nd chapter, 1st verse…” Ibid. p.473.

Warren Parrish, cashier at the bank and a confidant of Joseph Smith stated, “I have listened to [Joseph Smith] with feelings of no ordinary kind, when he declared that the audible voice of God, instructed him to establish a banking-anti banking institution, who like Aaron’s rod shall swallow up all other banks (the Bank of Monroe excepted,) and grow and flourish, and spread from the rivers to the ends of the earth, and survive when all others should be laid in ruins.” Plainsville Republican, February 22, 1838, as quoted in Conflict at Kirtland, p. 297, by LDS writer Max Parkin.

The anti-bank officially failed in the summer of 1837. Joseph Smith recorded, “…I resigned my office in the ‘Kirtland Safety Society,’ disposed of my interest therein, and withdrew from the institution; being fully aware, after so long an experiment, that no institution of the kind, established upon just and righteous principles for a blessing not only to the Church but the whole nation, would be suffered to continue its operations in such an age of darkness, speculation and wickedness.” History of the Church, Vol. 2, p. 497, July 7, 1837.