Remarks by

                         Eugene A. Ludwig
                   Comptroller of the Currency

                    at Ribbon-cutting Ceremony
                            Mill Creek
                         Cleveland, Ohio

                          June 12, 1997

Thank you, Mr. Mayor.  This is a great day for the City of
Cleveland, and I'm delighted to be a part of it.

Your theme today reminds us that America's fight during World War
II was a fight for human dignity on the home front as well as
abroad.  The struggle to liberate occupied Europe and Asia was
also a struggle at home against the scourge of poverty and
hopelessness.  The more just, more prosperous America that
emerged after 1945 helped to justify the enormous sacrifices of
our people during the war. 

The triumphs of World War II at home and abroad were the product
of innumerable partnerships between government and the people. 
Then and since, our best moments as a nation have occurred when
we succeeded in working together, channeling the drive and
ingenuity of the private sector for the betterment of all our
people. 

It is just such a partnership that we are celebrating here today. 
Mill Creek symbolizes what America can become through leadership
and cooperation--a bridge uniting the  communities that surround
it, a road to a better tomorrow for the 217 families that will
proudly make this their home.
What unites us here would not have been possible without Mayor
White, a true Cleveland champion who does not take "no" for an
answer when the fate of his city is at stake.  Perhaps more than
any other mayor, Mayor White has focused the resources and
ingenuity of the banking industry on the development needs of his
city. 

And Mill Creek would not have been possible without the Broadway
Area Housing Coalition, one of Cleveland's extraordinarily
vigorous network of nonprofit organizations and Community
Development Corporations, which have been relentless in pursuing
a commitment to Cleveland's renaissance. 

As the administrator of our national banking system, I take
special pride in noting the important contribution of commercial
banks, which, over the past six years, have made lending
commitments in Cleveland totaling more than $1.3 billion--funds
earmarked for home improvement, for new home buyers, for small
business people, and for neighborhood development projects that
will keep the momentum going strong. 

Mill Creek would not have happened without the contributions of
the agencies of our Federal government which have provided
financing and technical assistance.

Mill Creek is a shining example of economic development that
champions the diversity of our nation, our urban centers, and our
people. It is exactly the kind of partnership that I had in mind
when we revised and reinvigorated the Community Reinvestment Act
just over two years ago. 

To all those who have played a part in making this dream a
reality, my heartiest congratulations. I look forward to
returning to celebrate more successes in the future. 

Thank you.
                              # # #

The O.C. charters, regulates and supervises approximately 2,800 national banks
and 66 federal branches and agencies of foreign banks in the U.S., accounting
for more than half the nation's banking assets.  Its mission is to ensure a
safe, sound and competitive national banking system that supports the
citizens, communities and economy of the United States.