From pawnbroker to banker, Lillian Kasindorf Kavey

Responding to the economic hard times of the European immigrants surging into New York in the early 1900s, Lillian Kavovitz opened a pawnshop in Port Chester, N.Y. Her business was highly successful in large part because she was fluent in Russian, Polish, German, Czech and several Italian dialects. After learning that many of her customers hoarded their savings under their mattresses until they had enough to bring over their next of kin, she transformed her business into a travel and loan agency. Customers deposited money with her to gather interest. When enough funds were available to purchase the ticket, she arranged passage with a steamship company. If newcomers had trouble with the immigration authorities, Lillian would travel on their behalf to Ellis Island, where she soon became a familiar figure.

In 1913, Lillian became the first woman to be granted a banking license in New York State. Her bank was named A.H. and L. Kavovitz. Her husband joined her as a partner; soon after, her two sons followed as partners. The family name was changed to Kavey, and the bank’s name was changed to Kavey and Sons. Kavey and Sons merged with First Westchester National Bank of New Rochelle in 1955 and later with the still-prosperous Barclay’s Bank.

With thanks to Tania Colmant-Donabedian, reference librarian at the Port Chester Public Library.

TOBY ROSSNER (tobyross@cox.net) was the Director of Media Services at the Bureau of Jewish Education from 1978 to 2002.

EDITOR’S NOTE: This is the fifth article in a series on the history of Jewish women entrepreneurs.