As 2024 comes to an end, we here at Maspeth Federal Savings are reflecting on the opportunities we’ve had to help enrich and improve the communities we serve. As a community bank with a strong local focus and a long-standing tradition as a mutual savings bank, we are dedicated to transparency and proudly demonstrate the positive results of our ongoing commitment to the communities we serve.
Business as usual means building stronger communities
Maspeth Federal Savings is a mutual savings bank, meaning each and every one of our depositors is an owner of the bank. As a result, it matters what our customers think, and our neighborhoods are a core part of who we are as a business.
“Community banks offer a different type of perspective,” says President & CEO Tom Rudzewick. “It’s all about service—helping folks find the best way to save their money and doing that in a way that is more inclusive to their community.”
It also means our customers are at the heart of the many charitable contributions we make throughout the year, and we’re proud to share how your support has translated into transformation throughout the community.
Giving back by supporting local charities and organizations
Through donations, partnerships, and volunteer efforts, MFS has contributed over $1.5 million to a wide range of organizations dedicated to making a difference across the greater New York City area and Long Island. These include:
• Community organizations - Local groups that promote community engagement, safety and development, such as local Chambers of Commerce, Kiwanis Clubs and Lions Clubs.
• Educational institutions - Schools, higher education and other learning centers that provide formal education, training, and development opportunities.
• Charities and nonprofits - Organizations dedicated to addressing societal needs and improving quality of life for individuals and communities, such as the Ronald McDonald House, the Queens Museum and Tunnels to Towers, where we donated money to pay down the family mortgage of fallen NYPD Officer Jonathan Diller.
Together, these types of organizations account for over half of our charitable giving contributions. The remainder is dispersed among a variety of other groups, including:
• Healthcare and service organizations like St. Mary’s Children’s Hospital, where we created a mural in partnership with Splashes of Hope, and the Gotham Volunteer Ambulance Corps, where we increased our annual contribution to purchase new stretchers.
• Religious, civic and cultural groups dedicated to preserving heritage, celebrating cultural diversity, and enhancing civic pride through various events and initiatives.
• Business and professional organizations that provide networking opportunities, professional development, and advocacy.
• Youth and sports, animal welfare and other organizations like family foundations, specialized groups with unique missions such as historical preservation, and memorial funds, exemplified by the donation we made to a 529 educational savings plan for the late Officer Diller’s son Ryan.
Looking ahead
Without customers like you, none of this would be possible. Your loyalty and support empower us to invest in the causes and communities that matter most. Still, there is more work yet to be done.
“Over the next 10, 20… 50 years, MFS is going to continue to represent a different look for banking,” says Tom. “An organization that believes in the power of community and is committed to helping it thrive.”
As we look ahead to 2025, we’re excited to continue the MFS tradition of giving back. Our annual events, such as Smile on Maspeth, will return, alongside new initiatives designed to expand our community impact. Keep an eye out for updates and opportunities to get involved in the coming year and thank you for being a part of the journey to improve the places we call home.
