A characteristic feature of the second half of the 19th century was the search for measures to counter the crisis phenomena in the economy of the Russian Empire. A completely new phenomenon in the economic and social life of St. Petersburg is the activity of mutual credit societies (MCC). As a profitable financial institution for small and medium-sized entrepreneurs, the First MCC helped nearly bankrupt city entrepreneurs recover in the mid-1860s, which objectively strengthened the urban economy. The example of the First Capital Credit Institution soon spread throughout the empire. The building of the Mutual Credit Society, built in the center of St. Petersburg, has become a symbol of the success of its activities. The article notes the widespread charitable activities of the MCC, in which the imperial family actively participated.