1st Security Bank announces establishment of foundation

CHICAGO - Julian E. Kulas, president and chief executive officer of 1st Security Federal Savings Bank, announced on January 6 that 1st Security has established a not-for-profit charitable foundation called The Heritage Foundation of 1st Security Federal Savings Bank Inc., and committed $5 million to fund the foundation's initiatives.

The purpose of the foundation is to provide charitable financial support to the Ukrainian American civic, educational, religious and youth organizations in our communities. 1st Security has set aside $2.5 million as initial funding for the foundation. The additional $2.5 million will be funded over the next few years.

According to Mr. Kulas, "The Ukrainian community has been very supportive of 1st Security Federal Savings Bank throughout its 32-year history. We view the establishment of The Heritage Foundation of 1st Security Federal Savings Bank Inc. as one way of recognizing the community's support. We hope that the foundation will be helpful in preserving our national identity, our heritage and our organized communities in the United States."

According to Dr. Paul Nadzikewycz, chairman of the bank's board of trustees, "The establishment of this charitable foundation is another example of 1st Security's ongoing commitment to meet the needs of our community."

1st Security Federal Savings Bank is a federal mutual savings bank that serves its customers through offices located in Norwood Park and Rolling Meadows, Ill., as well as in Philadelphia.

Copyright © The Ukrainian Weekly, January 26, 1997, No. 4, Vol. LXV

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