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5423968_4_1493.xml
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<bibl><title>Dziennik Zjednoczenia</title>,
<date when="1928-03-13">Mar. 13, 1928</date>.
<title level="a">Annual Meeting of the Polish Building and Loan Associations</title><title level="a" type="sub">Former Platform Adopted for the Coming Year; A. Wachowski's Report; 12,626 Associations in the Country</title></bibl>
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<publicationStmt>
<publisher>The Newberry Library</publisher>
<pubPlace>Chicago, Illinois</pubPlace>
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<addrLine>60 West Walton</addrLine>
<addrLine>Chicago, IL 60610</addrLine>
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<note>Transcribed from digital images contributed to the Internet
Archive by the University of Illinois at Urbana-Champaign.</note>
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<bibl><title>Dziennik Zjednoczenia</title>,
<date when="1928-03-13">Mar. 13, 1928</date>.
<title level="a">ANNUAL MEETING OF THE POLISH BUILDING AND LOAN ASSOCIATIONS</title><title level="a" type="sub">Former Platform Adopted for the Coming Year; A. Wachowski's Report; 12,626 Associations in the Country</title></bibl>
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<body>
<p>The annual meeting of the Polish Building and Loan Association League was held last Sunday at the Sokol Hall, 2300 South Whipple Street. After John Czekala, the president of the committee, opened the session, I. P. Grzemski, the secretary, read the minutes of the previous meeting, which were accepted on a motion by Mr. Wysocki without opposition.</p>
<p>This formality over, the Reverend S. Bona, pastor of St. Casimir's parish, was invited to talk. "I came here," said Reverend Bona, "especially to give a word of praise for the work the League and the associations affiliated to it have accomplished in behalf of the Polish people. Just as each of our parishes is a defender of its right to teach the Polish language and traditions to our children, so is each of our associations a fortifier of our common good.</p>
<pb facs="5423968_4_1494.jpg" n="2"/>
<p>"Although it is well known that our organizations are not totally independent, yet they should be praised for the simple reason that it is due to their efforts that the Poles possess their own homes and other real-estate interests. These associations set an example and are regarded with great respect in financial circles. Bankers know that the Poles are trustworthy and that they respect their obligations.</p>
<p>"These institutions have taught our people not to hide their savings in mattresses but to put them in the coffers of the League, where they earn a substantial rate of interest. The organizers of the League must be thanked for the great sacrifices they have made in order to build this fine organization.</p>
<p>"The Polish Building and Loan Association League is an institution needed by the people. We are gathered here to help it in its work. The desire of the organizers of the League is that everyone become familiar with the work of the organization."</p>
<p>Mr. A. Wlodarski, first vice-president of the League, thanked Father Bona for his speech. Other speakers were the following directors of the League:</p>
<pb facs="5423968_4_1495.jpg" n="3"/>
<p>John T. Jasinski, of Bridgeport; M. Galow, of Avondale; A. Wlodarski, of Town of Lake; F. Marchewicz, of Holy Trinity parish; S. Mkolajczyk, of St. Adalbert's and St. Anne's parishes; I. Pawis, of Irving Park; L. Lachcik, of Kensington; and P. Jezierny, of St. Casimir's parish.</p>
<p>Attorney John Rybicki, a member of the organizing committee, recommended a uniform system of bookkeeping for all the affiliated associations. Two other members of the committee, Mr. Tyrakowski and Mr. Armknecht, also spoke. Mr. Czekala, the chairman, told the assemblage that the Polish press is willing to co-operate and will publish any interesting article concerning the League. Articles may be sent to L. Borejszy, 1331 Augusta Boulevard.</p>
<p>Mr. W. Whitlock, secretary of the League, was endorsed for the post of fourth vice-president. After deliberating upon a motion made by W. Armknecht, the two hundred and fifty delegates present agreed that the League should go ahead with the same platform it had last year. The assembled members then rose from their seats as a token of appreciation for the work done by the committee. The members of the committee are John Czekala, president, A. J. Wlodarski, first vice-president; S. Tyrakowski, second vice-president; I. P. Grzenski, secretary, <pb facs="5423968_4_1496.jpg" n="4"/>2304 North Western Avenue; and Albert Wachowski, treasurer, Maurice F. Vasena, president of the League, and Mr. K. Pulaski were the next speakers.</p>
<p>Mr. Wachowski's Report</p>
<p>At this meeting the treasurer of the League, Mr. Albert Wachowski, known to the Polish people as the father of building and loan associations, made the following report:</p>
<p>The yearly report by the secretary of the National Building and Loan Association League in the United States shows that there are 12,626 units representing 10,665,705 members. The highest income amounts to $355,509,319.</p>
<p>In Illinois we have 881 units with 840,000 members. The 220 branches in Massa-chusetts represent the largest capital, $425,511,319. The capital of the entire organization amounts to $6,334,103,807.</p>
<p>Our Polish building, loan, and savings associations in Chicago and vicinity have over $40,000,000. The growth of our organizations during the past few years <pb facs="5423968_4_1497.jpg" n="5"/>has been more favorably received and proportionately larger than that of any other financial institution.</p>
<p>These savings associations are operated in a businesslike manner. Strict economy of operation gives them a strong financial foundation. They are the schools of the people of the working class, who are taught that by saving their hardearned money they will be able to build their own homes.</p>
<p>These associations are of value to the community in that they help build character and assist their members to construct their own homes, thereby making them good and useful citizens of this country.</p>
<p>Recognition should be given our Polish League of Building and Loan Associations, which has striven from the very beginning to bring all other similar organizations into its fold.</p>
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