Homesteads New Leader Well Suited for Albion

By John Face

August 16, 2024

Homestead Savings Bank (CLICK HERE FOR LINK TO HOMESTEAD BANK) announced this spring that it had chosen Chad Rumsey for Scott Evans’s position. Rumsey started as President and CEO of the local bank on July 1st and has hit the ground running.  

Scott Evans sat for a few minutes and shared the thoughts of the Homestead Board: They are thrilled to have a candidate who grew up in Albion, went to school here, has family here, and comes in with 25 years of financial institution experience. Evans noted that he and Chad worked together from 2012 to 2015. Evans said that he was remaining for six months in an advisory position to assist Chad as needed for his transition as President/CEO. Then, at the end of this year, He will step back and take a position on the Board.

I had the opportunity to sit and speak with our new president on July 5th, and as you are about to read, it was more of a homecoming for Rumsey. Chad was born and raised in Albion. He graduated from Albion High School in 1991, then left Albion and graduated from Grand Valley State University. He moved on from GVSU and began a professional life in investment banking, financial service, ending up at Citizens Bank as a Branch Manager in Brooklyn, MI, in 1999.

The son of Tom and Sharon Rumsey, he has a sister, Sara. He married his wife Lori and will celebrate 21 years in September this year; they have no children. He always stayed close, as they live in Grass Lake, and Lori recently retired from teaching at Michigan Center. He said they are looking to move to the Albion Area. Having spent much of his youth at Duck Lake, they want to reside there.

I asked how he ended up back home in Albion. He said that he had heard rumors of Scott retiring, he wasn’t looking to move on from his current job. It was upon learning of this opportunity with Homestead, knowing Scott and hearing rumor of his potential retirement that opened that door.  Once I had learned this to be true I then reached out to Scott for a lunch to learn more. 

He met Evans for lunch, who filled him in on where things were in Albion, and Chad was very curious. That meeting began a long process of interviews and checks, and before we all knew it, Chad Rumsey was returning home.

Now that he is here, he’s already working on the future. Chad said that with the recent retirements of Teri Face, Chris Burdette, and now Evans, “I need to plan for an eventual succession for our bank. I plan on being here for several years until I retire, but we have lost decades of banking experience with those three retirements alone, replacing this much experience will be difficult.”

He also wants to improve Homestead’s commercial loan business. He said that is one area we can improve on, and I plan on seeing that developed to where we are looking for additional growth. He said Homestead recently received notification of its ability to lend more. The bank now can authorize up to one million in loans without seeking help from other sources. That is big news for a small bank like us.

“With the right amount growth and with the right area identified we may consider another branch office,” he said, much like they have now in Albion, Springport, and Leslie. Looking into more modern technology for the bank will always be a must, and continuing our excellent customer service.  Chad is looking forward to working with clients and future clients (business and personal) of HSB as well as being involved in community events. 

Reaching Chad is easy and simple; just call him at his Albion office of Homestead, 517-629-5588.  Stop by any of Homesteads branches listed below.

Albion

415 S. Superior Street

Albion, MI 49224

Hours of Operation

Lobby/Drive Through

Monday-Friday: 9:00am – 5:00pm

Saturday: 9:00am – 12:00pm

Contact Numbers

Telephone: (517) 629-5588

Fax: (517) 629-2455

Leslie

4625 Hull Road

Leslie, MI 49251

Hours of Operation

Lobby/Drive Through

Monday-Friday: 9:00am – 5:00pm

Monday-Friday Closed: 12:00pm – 12:30pm

Saturday: 9:00am – 12:00pm

Contact Numbers

Telephone: (517) 589-8182

Fax: (517) 589-8172

Springport

157 E. Main Street

Springport, MI 49284

Hours of Operation

Lobby

Monday-Friday: 9:00am – 5:00 pm

Monday-Friday Closed: 12:30pm – 1:00pm

Saturday: 9:00am – 12:00pm

Contact Numbers

Telephone: (517) 857-3900

Fax: (517) 343-0322