Joseph J. Schermack incorporated the National Prosperity Association of Detroit September 9, 1922. The purpose of the corporation was “To merchandise prosperity through savings, to induce the masses to save, thereby increasing their prosperity.” The Schermack Companies produced savings stamp vending machines, for users to make small deposits to savings accounts by purchasing a stamp. The stamps were saved and taken to the appropriate savings institution to be credited to the individual’s account.
The idea of enabling savings in small amounts through stamp sales was used multiple times by Schermack in different eras and with different branding, including the Savemore School Savings program of the 1950s-1960s. Following are some examples of the machines produced for the first savings program of the 1920s.