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Maspeth Federal Savings turns 75

Maspeth Federal Savings was joined by the community in celebration of its 75th anniversary.

Around 100 residents, students, and local elected officials gathered at the Maspeth location ⁠—the site of the original storefront that first opened in 1947 with a staff of only seven employees.

President and CEO Thomas Rudzewick said that Maspeth Federal Savings has grown to become an institution with seven different locations, nearly 200 employees, and $2.2 billion in assets over the last 75 years.

“We stayed to our mission. We wanted to make sure that this institution was a safe place to put your deposits and to get your home loan,” he said.

“Our mission is to create and maintain a professional environment that fosters the confidence of our board of directors, invites the ideas of our employees and exceeds the expectations of our customers,” he continued. “We are here to treat you like family, and we hope all of you feel the same way from myself and the board of directors that are here today.”

Queens Borough President Donovan Richards, NYS Assemblyman Brian Barnwell, and Councilman Robert Holden congratulated Maspeth Federal Savings on their achievements and presented them with citations.

“Maspeth Federal Savings has become a trusted financial institution admired for its fiscal management and deep commitment to the community,” Richards said.“Thank you for contributing to financial literacy for community based organizations. Think about the impact that this has had on families and businesses, and how it has kept Queens such a vibrant borough.”

In the spirit of family, the St. Stan’s Players gave a musical performance, which included Sister Sledge’s 1979 hit, “We Are Family.”

Upon pointing out that the bank’s former President and CEO Kenneth Rudzewick, has a story quite similar to George Bailey from “It’s a Wonderful Life,” Holden said: “It’s rare that a bank is the center of the community for all celebrations, but Maspeth Federal has always been that. That’s because of men like Kenny and Tom Rudzewick.”

“With your help over the last 75 years, you did make living in Maspeth and the surrounding communities a wonderful life,” Holden said.

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