James G. “Rip” Collins saw the need to secure precious metals and valuables, when in the late 70’s, the Dallas-based Hunt brothers attempted to corner the market on silver. Mr. Collins contacted 30 area banks and learned that all of them had waiting lists and none had boxes of any decent size.
Mr. Collins soon partnered with Will Caruth who owned Inwood Village at the time, they developed Caruth Security Vaults. Architects and security specialists planned and built a large section of Inwood Village to be a private high security vault. It was originally utilized to store high-end automobiles, boats and motorcycles in a large two-story garage. One of the biggest draws of the vault was and is the variety of box sizes, lockers, closets and rooms to rent. They opened their doors in 1981.
Within a few years, Caruth Vaults had become a major storage site for corporate backup data reels. By law, businesses were (and still are) required to store records off-site and conduct Disaster Recovery drills in case of a disaster. Caruth Vaults had a staff of 10 and a fleet of 3 delivery trucks that ran data back and forth to clients 24/7. Several years later, Mr. Collins purchased Will Caruth’s interest in the vault and it was renamed Inwood Security Vaults.
The Disaster Recovery program’s protocol continued at Inwood Vaults. Data storage transitioned from large reels to small discs. The same amount of data required less space and corporations still stored data but to a lesser extent. As the business evolved, the 2nd floor became unnecessary and was returned to Inwood Village. The oversized garage was also returned to Inwood Village leaving a much smaller but useful private garage. Other small changes have been made, but the current business size has remained consistent since 2004.
Inwood Security Vaults has endured the test of time, across the entire country only a few can compare. Built from the ground up to be a fortress, Inwood Vaults has 12 inch thick steel reinforced concrete walls, floors, and ceilings and five layers of bullet proof glass across the lobby. The security system was built into the very framework in addition to a temperature controlled atmoshphere and includes a Halon fire retardant system. There has never been any loss due to theft or damage.
Please contact us with any questions.