8410-10 First Federal 75th Anniversary

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RESOLUTION NO. 8410-10 BY: ANTONIO, BULLOCK, BUTLER, MADIGAN, POWERS, SMITH, SUMMERS. A RESOLUTION to recognize First Federal of Lakewood's 75a' Anniversary March 16, 2010. WHEREAS, First Federal of Lakewood was founded in 1935 in the midst of the Great Depression, and WHEREAS, The mission of First Federal. of Lakewood was then, and remains today, to make home ownership a realistic and achievable goal for citizens in our region and WHEREAS, First Federal is a Community Bank, which has not lost sight of its responsibilities to the communities in which it operates. WHEREAS, First Federal is a significant economic engine in Lakewood, employing in excess of 140 people in Lakewood and an additiona180 employees in the region, and WHEREAS, First Federal has affirmed its commitment to Lakewood by systemically expanding its physical presence through the purchase and restoration of the entire city block on Detroit Ave. WHEREAS, First Federal's sound underwriting and lending policies have served it well despite the fact that numerous competitors have gone out of business or needed Bailout money to survive. First Federal remains one of the most sound financial institutions in the region; now, therefore, BE IT RESOLVER BY THE CITY OF LAKEWOOD, STATE OF OHIO: SECTION L That Lakewood City Council Congratulates First Federal of Lakewood on achieving its 75~' anniversary and extends its heartfelt appreciation for its commitment, service, and contribution to the City of Lakewood. SECTION 2. That the Clerk. of Council be and is hereby authorized and directed to forward a personal certified copy of, this Resolution to First Federal of Lakewood and that a copy of this Resolution be spread upon the minutes of the meeting. Adopted: /v~ li„~ (~ / j f 2 d/ Q Approved: 3~ ~~l ~ PRESIDENT OF COUNC L CLERK O COUNCI MAYOR