History of Belding Banks series #1

“‘Tis the Belding Building & Loan that to people great or small,
Offers far the best inducements to its patrons one and all.Belding Building & Loan in Belding in Verse: A Souvenir of the Silk City. Devoted to its Enterprising Business House, Frederick Andrews Bush.

February 2, 1899
The annual meeting of the Belding Building & Loan in loan Association.

This meeting was held to discuss the progress of stocks owned by stockholders. The news was good. All of the stock’s value increased from the previous year. The board re-elected its officers, and the Board of Directors continued their service from the past three years.

The officers:
President: FA Washburn( Fred A. managed the Belding Hotel and treasurer for the Belding-Hall Company)
Vice President: R.M. Wilson ((Robert M) owned R.M. Wilson & Co, a lumber company, located at the junction of Main st and Pere Marquette Railroad. He died in 1919, and A.S. Dimmick took over the business. Robert was a mason.)
Treasurer: O.F. Webster(owned Pleasant Street Food store, sold coal and wood)
Attorney: H.L. Van Benschotenn(worked inside Belding Savings Bank office)

The Board of Directors:
H.L. Leonard
R.M. Wilson
W.P. Hetherington(host of Belding Hotel)

This organization operated a loan and a savings department. It helped to grow the city of Belding by offering affordable loans to working men, which allowed them to invest in and own property instead of paying rent. Population of Belding at this time was around 500.

References:
History of Ionia County, Michigan, Her People, Industries and Institutions, with Biographical Sketches of Representative Citizens, and Genealogical Records of Many of the Old Families – Elam E. Branch, Earl W. De La Vergne