Alma record. (Alma, Mich.) 1878-1928, 1916-10-26
ALMA BUILDING AND
LOAN ASSOCIATION
Has Been Doing Business Here
for Thirty Years and has
Helped Many.

The Alma Building 4 Loan associa-
ton was organized 30 years ago next
May. 4 prominent business man said
o. it recently. "No single agency has
done more towards making Alma "a
place worth living in Few people
have any adequate conception Of the
importance of these associations
throughout the state and nation There
are in the United States over 5000
associations with assets of 81, ,400,-
100000 Michigan stands 10th among
the states with S2S,000,00 assets.
Nearly every live town in the state
has one or more associations. Jack
son has six, Grand Rapids five, Niles
four, Lansing and Bay City three
each. etc. There are 90 in the state
The Alma association has done
much towards the upbuilding of the
community. 1t has made upwards Of
400 loans, nearly every one OF which
has enabled member TO procure and
own a home. Such representative
men as Dr. +. A. Bagley, c. G. Rhodes,
f. Pollasky, w A. Bahlke, c. l..
nelavan. T. NJ Smith, and many
others of Alma's professional and
business men have been connected with
the association and will continue TO
lend il their influence and support
1t is now proposed to make the as
sociation a larger factor in Alma s
affairs and widen the scope Of its use
fulness. As a starter, an entirely
new set of officers and a number OF
new directors were, on July lst, placed
in charge Of the association. F. +.
Pollasky and c. c. Rhodes, old di-
rectors, were made president and vice
president Charles o. Ward was made
treasurer, and ID. l.. Johnson, who has
for the past 3 years been local at
torney for the Capitol association of
Lansing. was made secretary and at
torney. The other directors are l.. n
! Raker, F. NJ. Smith, r. b. Soule, Otto
/ Sanderhoff and j. +. Mitchell, all well
known. progressive business men OF
Alma. This directorate assures ag-
gressive methods combined with safe
investments.
The primary object of the associa.
ton is Savings and Loans" with the
ultimate object of helping its members
to become home owners through meth.
obs of thrift. Every member is 9
stakeholder sharing in the earnings
Of the association in proportion to tn,
amount of his savings. Every person
is invited TO become a member, paying
into the association at stated times
weekly or monthly, such sums as hi:
earnings may permit. Dividends are
credited upon these savings every 81,
months. When the fund thus created
is large enough, the member is en-
couraged to borrow from the associa
tion a sufficient amount to put will
his savings to purchase a suitable
home, thus assuring his family inde
pendence of the oft times graspinl
landlord. Upon this loan he continue
his periodical payments until the loai
is repaid He may then become
Savings" member again, laying by
fund against the inevitable rainy day
OF for business purposes as he see
fit. So thrift" becomes a habit am
Savings" accumulate.
The funds of the association ar
loaned only for purposes of home own
ing, on dwellings of its members wher
the margin of security is sufficient I
comply with the state law. So alsc
are funds advanced to members VIII
are building homes. No investment
are so secure or so satisfactory as i
the American home, so it is felt tha
the funds of the association are ;
placed as to guarantee its member
against loss of any kind.
1t is the hope of the directors tha
the citizens of Alma will interes
|, themselves in this Alma institutio
, which has done so much in the pas
and which bids fair to do so much j
the future for the city. The none
/, you pay into the association goes
: provide someone with home, helps
! build up the city in a way sorely neeC
ed-an object in which one may TAX
just pride. Many, unable themselvc
to join actively in the house crusad
- row on in Alma, could aid the enter
prise by becoming stockholders in tn
association so active in promotin
home owning. Money thus safely il
z vested would at the same time brin
in a nice rate of interest and be III
2 means of assisting with home -builC
= ING so much needed In the CITY