The Sisters
In 1993, Hazel Olds Richardson and her sisters, Cleda Olds and Eutha Olds, Formed the charitable foundation that bears their family name. Before that time, each of the sisters had worked in the family business, the Bank of Amity, for varying numbers of years. Upon retiring from the business, Hazel, Cleda, and Eutha sold the bank and used the proceeds from that sale, along with large timber holdings in the Olds family, to fund the Olds Foundation, Inc.
The sisters’ vision for the Olds Foundation was to benefit the immediate area that had formed and shaped their lives. That purpose has been realized in many areas, including municipal, medical and educational services. The foundation has given many college scholarships to graduates of Centerpoint High School and Kirby High School. It helped bring in a physician to open a medical clinic and has helped the city of Amity construct a city hall.
So when Hazel Olds Richardson learned there was to be a place near Amity that would provide homes to neglected children, it seemed a natural fit for the Olds Foundation. First, the Arkansas Sheriffs’ Youth Ranches would be helping children, an idea that was very close to her heart. The development also would bring jobs to the area.
The Bank of Amity was incorporated in 1905 by the Olds sisters’ maternal grandfather, W.C. Hays. His daughter, Willa, married W.H. Olds. The couple’s first daughter, Cleda, was born in Texoma, Oklahoma on Dec. 2, 1905. Middle daughter Hazel was also born in Texoma on Dec. 21, 1909. The family moved to Amity soon after and W.H. joined his father-in-law in the banking business. Eutha, the youngest daughter, was born in Amity on Nov. 10 1911.
The Sisters
In 1993, Hazel Olds Richardson and her sisters, Cleda Olds and Eutha Olds, Formed the charitable foundation that bears their family name. Before that time, each of the sisters had worked in the family business, the Bank of Amity, for varying numbers of years. Upon retiring from the business, Hazel, Cleda, and Eutha sold the bank and used the proceeds from that sale, along with large timber holdings in the Olds family, to fund the Olds Foundation, Inc.
The sisters’ vision for the Olds Foundation was to benefit the immediate area that had formed and shaped their lives. That purpose has been realized in many areas, including municipal, medical and educational services. The foundation has given many college scholarships to graduates of Centerpoint High School and Kirby High School. It helped bring in a physician to open a medical clinic and has helped the city of Amity construct a city hall.
So when Hazel Olds Richardson learned there was to be a place near Amity that would provide homes to neglected children, it seemed a natural fit for the Olds Foundation. First, the Arkansas Sheriffs’ Youth Ranches would be helping children, an idea that was very close to her heart. The development also would bring jobs to the area.
The Bank of Amity was incorporated in 1905 by the Olds sisters’ maternal grandfather, W.C. Hays. His daughter, Willa, married W.H. Olds. The couple’s first daughter, Cleda, was born in Texoma, Oklahoma on Dec. 2, 1905. Middle daughter Hazel was also born in Texoma on Dec. 21, 1909. The family moved to Amity soon after and W.H. joined his father-in-law in the banking business. Eutha, the youngest daughter, was born in Amity on Nov. 10 1911.
The Foundation and Vision
Upon retiring from the bank, Hazel, Cleda, and Eutha sold the bank, which is now Chambers Bank. The proceeds from that sale, along with family timber holdings the Olds family, funded the Olds Foundation, Inc.
Their vision for the Olds Foundation was to
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benefit the immediate area that had formed and shaped their lives
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with municipal, medical, educational and improvement services
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help the area children by providing college scholarships to graduates of Centerpoint High School and Kirby High SchoolI
The foundation also helped bring a physician and helped the city of Amity construct a city hall.
At the prospect of the Arkansas Sheriffs’ Youth Ranch, they knew it fit their vision by helping children, an idea that was very close to their hearts. The development would also bring jobs to the area.
The Sisters
Cleda served her entire career with The Bank of Amity, working through the ranks beginning in 1926. In 1955 she became president and CEO. She retired from the bank in 1993, but remained as chairman of the board. Cleda was a long-time member of Amity United Methodist Church and a 50-year member of the Order of the Eastern Star. She was instrumental in starting the Olds Foundation and served as its chairman until her death on Dec. 27, 1997.
Hazel graduated from Henderson-Brown College and taught at Amity High School for two years. Hazel then married Ernest Richardson and moved to Little Rock where she worked, at what was then Commercial National Bank. After Ernest’s death on Sept. 3, 1950, Hazel returned to Amity and served on the bank’s board for many years as secretary. She served as a trustee and chairman of the Olds Foundation, and was a long-time member of Amity United Methodist Church and a 50-year member of the Order of the Eastern Star.
Eutha earned a Bachelor of Science degree in home economics from Lindenwood College in St. Charles, Missouri. She also took advanced studies at the University in New York. Eutha taught home economics at Caddo Gap High School for two years, then served as Home Demonstration Agent for Desha, Lee and Pulaski counties. She was an officer of both the state and national home economics associations. After retirement, she moved to Amity and worked for the Bank of Amity. She was a member of Amity United Methodist Church, where she taught Sunday School. Eutha served as a trustee of the Olds Foundation until her death on Dec. 17, 2002.
Millard and Theda Aud-Stewards and Representatives for the Foundation's vision for over 25 years
Mr. Millard Aud was the chairman, trustee and general manager of the Olds Foundation, and he served as president of the Bank of Amity, and as well as the Merchants & Planters Bank in Arkadelphia. He was a member of Arkadelphia Masonic Lodge #381 and Scimitar Shrine Temple.
Millard actively served the local communities in many capacities. A true civic leader throughout his life, and an integral part to the Olds Foundation. He served to support children and youth, education, occupational development, the arts, commerce and economy, financial, medical, and educational institutions, through his work on the Caddo Career Consortium, South West Arkansas Planning and Development Corp, Baptist Health Medical Center Arkadelphia advisory board, the Board of Trustees for Ouachita Baptist University, chairman of the Arkansas Bankers Association, School Board.
He brought the mission of the foundation to life through all of his work and dedication to the Olds’ sisters' vision.
Mrs. Theda also actively served her community, and was a trained educator. In addition to being the secretary for the Olds Foundation she served as a member of the Clark County Historical Association, Arkadelphia Chapter Daughters of the American Revolution, Baptist Health Hospital Auxiliary, Arkadelphia Area Chamber of Commerce and trustee.
We appreciate their leadership and service, and also that of their son Greg Aud, who continues, along with the board of trustees, to fulfill the foundation’s vision to support the Amity area today and tomorrow.
