[Congressional Record Volume 140, Number 67 (Wednesday, May 25, 1994)]
[Senate]
[Page S]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: May 25, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
 IN TRIBUTE TO THE 100TH ANNIVERSARY OF THE KOSCIUSZKO FEDERAL SAVINGS 
                                  BANK

 Ms. MIKULSKI. Mr. President, I rise to pay tribute to the 
Kosciuszko Federal Savings Bank in Baltimore, MD. Kosciuszko has been 
serving my home town for 100 years.
  The Kosciuszko Savings Bank was founded by my grandfather, Michael 
Kutz, and other immigrants--shop owners in the neighborhood who pooled 
their resources to open up opportunities for other immigrant families. 
My grandfather had a grocery store, while someone else owned a tavern. 
One was a cabinet maker, one a dentist, a shoemaker, a barber, an 
attorney and an insurance agent. They all put money up together when 
so-and-so in the neighborhood wanted to buy a house. They knew 
everybody in the neighborhood, and they helped get people started in 
the community. The Kosciuszko bank was founded on the principle of 
helping others.
  His son Peter Kutz runs Kosciuszko now, and has kept to the roots of 
the original home town savings and loan. He knows how important it is 
that we do not forget the little guys, families that have passed their 
savings through generations as they have grown.
  The Kosciuszko bank has served these families for 100 years, through 
the Depression and the Savings and Loan crisis. My grandfather made 
sure that the bank stayed open through the Depression without 
foreclosing on any loans. They operated with a pledge of honesty and 
developed confidence and trust with their customers.
  And in the 1980's, when those big boys with Gucci shoes were making 
real estate deals, Peter Kutz was running the Kosciuszko Savings and 
Loan the same way its founders had: with two tellers, no hours on 
Wednesday, and no speculative business deals. The Savings and Loan 
crisis caused many Maryland S&L's to shut down, but the old 
neighborhood thrift in East Baltimore didn't even have long lines.
  Mr. President, the Kosciuszko Federal Savings Bank has been providing 
my community with security and stability since 1894. It has helped 
families grow through two and three generations. Its reputation of 
honesty and trust has spread by word of mouth, and it now serves over 
1,000 people. Over the last 100 years--through the Great Depression, 
several wars and recessions, and the Savings and Loan crisis--the 
Kosciuszko bank has been a rock and foundation of East Baltimore. I am 
proud to recognize the Kosciuszko Savings Bank, and to pay tribute to 
its 100 years of service to the community.

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