CONGRATULATING CITIZENS BANK OF NASHVILLE, TENNESSEE ON ITS 100TH ANNIVERSARY -- (Extensions of Remarks - March 23, 2004)
HON. JIM COOPER
IN THE HOUSE OF REPRESENTATIVES
TUESDAY, MARCH 23, 2004
Mr. COOPER. Mr. Speaker, today I introduced a resolution honoring one of the foremost institutions in my district-Citizens Savings Bank & Trust of Nashville, Tennessee. Citizens Bank enjoys the distinction of being the nation's oldest continuously-operating minority-owned bank and is celebrating a truly significant milestone this year-its 100th anniversary.
Minority-owned banks have played a crucial role in the economic development and revitalization of minority communities across the country. Through dedicated investment in the neighborhoods they serve, minority-owned banks have provided a vital source of economic opportunity and entrepreneurial capital for countless individuals and small businesses, especially those who had historically been underserved by other financial institutions. With combined assets of more than $48 billion and more than 3 million depositors nationwide, minority-owned banks continue to serve as pillars of economic stability and trust.
Citizens Bank stands as a model example of a minority-owned bank that has made significant and lasting contributions to its community. Founded in 1904 as the One Cent Savings Bank, Citizens Bank has provided funding and economic assistance to entrepreneurs, civic and social groups, educational programs and public schools and universities.
The bank has been especially notable for its service to African-American churches in the Nashville area. Citizens Bank has served as a principal source of financing for the construction and operation of church-based day care centers, assisted living facilities, and other community-based centers that promote the social and economic well-being of Nashville residents. The bank has also donated a great deal of its resources to the economic empowerment of Nashville residents by offering free home-buying and consumer education seminars.
I am proud to be the lead sponsor of a Congressional resolution that recognizes the achievements of Citizens Bank and the achievements of all minority banks across the country. It is my hope that this Congress will acknowledge the many contributions that minority-owned banks have provided to individuals, businesses and communities for generations. I also extend my sincerest congratulations to Citizens Bank for its 100 years of service to the people of my district and offer my best wishes for another prosperous century of service.