Date Founded: August 14, 1889
Original Name: Homestead Loan and Building Association
Nature of Original Business: Banking
Nature of Business Today: Banking
Owners and Locations: After seven moves, Homestead relocated to its current location in 1981 and continues to be run by a board of directors.
Current C.E.O. Scott Evans, President and CEO
Here, in about 1939, Homestead Loan and Building Association’s neon sign, reached out to the passerby near what was once the location of the law offices of Tuck, Garrison and Moore.
History: Homestead received its charter from the State of Michigan on August 14, 1889 and officially began operations on the third floor of Howard Hall. It was in Howard Hall thatcHomestead decided to operate, based on the principle of mutuality-operating for the common good, rather than for stockholders or individual owners.
Homestead’s original directors included
- Warren S. Kessler
- John G. Brown
- Christian Wiselogel
- Robert F. Glascoff
- Robert J. Frost
- L.J. Wolcott
- George Farwell
- Edward P. Burrall
- Horatio Gae
- Charles Jeffries
- Benjamin Baxter Bissell
The first officers were
- L.J. Wolcott, president
- Edward P. Burrall, vice-president
- Charles S. Davis, secretary
- Christian D. Wiselogel, treasurer
- Monfort D. Weeks, attorney
130-Year Celebration Scrapbook and Photos
Homestead decided to operate, based on the principle of mutuality-operating for the common good, rather than for stockholders or individual owners.
From 1890-1896, Homestead moved to the Malleable building and rented space from Fred F. Hoaglin’s clothing store. Homestead’s third move was to the second floor above Robert L. Staple’s shoe store from 1896-1917.
From 1917-1931, Homestead conducted business in the old Commercial & Savings Bank’s quarters on the S.E. corner of Superior and Erie St. Homestead relocated again, from 1931-1961, and changed their name to Homestead Savings and Loan Association.
The rapid growth of industry and population after World War II greatly impacted Homestead as they continued to grow.
Homestead moved again, from 1961-1981 in order to expand, and in 1981, Homestead built the beautiful Italianate style headquarters that Homestead Savings Bank resides in today.
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