[1] Owasco, the lead ship in her class, was launched by the Western Pipe and Steel Company at San Pedro, California, on 18 June 1944 and commissioned on 18 May 1945, barely two months before the end of World War II.

Initially fitted out as a gunboat, the vessel was converted to peacetime status at the Coast Guard Yard at Curtis Bay, Maryland, through the removal of much of her armament and installation of observation facilities and aerological equipment, a conversion completed in May 1946.

After the refit, Owasco returned to regular Coastguard duties, including law enforcement, ocean station, and search and rescue operations.

A lifeboat was damaged by a wave and her SPS-29 radar antenna sheared off, while the crew was obliged to work continuously to keep the cutter free from ice.

Under the leadership of Commander William R. Fearn and with a crew of 160, Owasco took part in Operation Market Time, the attempt to interdict North Vietnamese supply lines by sea.

In addition to keeping track of shipping in their patrol areas and inspecting and searching suspicious water craft and their occupants, Market Time units are often called upon to lend gunfire support to friendly forces ashore.

Four other Owasco men, LTJG Mack, BM2 Scheyer, DC3 Bane, EM3 Switlik all assisted in rescue and salvage operations to the battle damaged Navy craft.

On 19 June 1969, LTJG Warren Hudson USN, the PCF-70 skipper who was wounded in the action, visited the Owasco in New London to express his thanks to the commanding officer.Owasco returned to Subic Bay for emergency dry dock repairs between 15 and 25 January.

After refresher training at Guantanamo Bay in 1972, during which the vessel earned a second consecutive "E" for excellence in operational readiness, she returned to her home port in December of the same year.