The building was created by the Municipality of Vicenza and officially opened on June 12, 1486, with the simultaneous establishment of a pawn shop in the church of San Vincenzo, which then became the property of the Monte.
To combat the rampant usury in the city, the Franciscans created a microcredit project, providing small loans on more favorable terms than the market in exchange for a pledge. The loan was given only to the destitute and could not exceed three ducats per family, nor have a duration of more than six months; a steward, a notary, and a treasurer under the supervision of four elected Conservators from the Council of Forty oversaw the lending and recovery operations. The Banco dei Pegni was born.
In the 1700s, the interventions of Francesco Muttoni contributed to the expansion of the Church and the construction of a Hall for the Palace. Subsequently, the municipal library was located here, named “Bertoliana” in honor of its founder.
