The Forest Hill Building Association can be traced back to at least 1874. At that time the officers included: Charles T. Martin, president; William Buchanan, vice president; George W. Clark, treasurer; W.A. Browne, financial secretary; J.J. Reynolds, corresponding secretary; and James Nixon, J.P.A. Grant, James Chamberlain, Andrew Dunn, Peter McEvoy, G. Mosher, John Hawley, Bernard Grady and W. Leslie as directors.

The Forest Hill Building Association primarily acted as a lending institution for new homebuilders and buyers. In 1875, the association held mortgages amounting to $17,000. To be a member, one had to pay monthly dues.

In 1882, the Forest Hill Building Association No. 2 was incorporated by the Commonwealth of Kentucky. The incorporators were: Michael Lally, Martin Curry, Otto Heller, George Goodwin, James Clark, Andrew Dunn and Joseph Birsinger. The goal of the association was "To give its members an opportunity to make safe investments of their weekly savings and acquire homes for their families. The first meeting of the association was held on March 6, 1882.
The association later evolved into the Forest Hill Federal Savings and Loan Association. Finally, in 1975, it merged with the First Federal Savings and Loan Association of Covington. The last president of Forest Hill was Elwood F. Turner.

News Enterprise, January 2, 1975, p. 1; Daily Commonwealth, October 28, 1882, p. 2; Ludlow Reporter, August 8, 1874, p. 4 and April 3, 1875, p. 2.