Originally named Trocadero Bay until 5 June 1944 when it was renamed after the Honiara suburb Point Cruz, which was the site of heavy fighting during the Guadalcanal Campaign.

She was laid down on 4 December 1944 by Todd Pacific Shipyards Incorporated, Tacoma, Washington; launched on 18 May 1945, sponsored by Mrs. Earl R. DeLong; and commissioned on 16 October 1945.

In 1941, as United States participation in World War II became increasingly likely, the US Navy embarked on a construction program for escort carriers, which were converted from transport ships of various types.

These proved to be very successful ships, and the Commencement Bay class, authorized for Fiscal Year 1944, were an improved version of the Sangamon design.

[1] They proved to be the most successful of the escort carriers, and the only class to be retained in active service after the war, since they were large enough to operate newer aircraft.

Given the very large storage capacity for oil, the ships of the Commencement Bay class could steam for some 23,900 nautical miles (44,300 km; 27,500 mi) at a speed of 15 knots (28 km/h; 17 mph).

[6] During this period, she carried squadrons VMA-332, flying Vought F4U Corsair fighters and Grumman TBF Avenger anti-submarine patrol bombers, respectively.

Point Cruz thereafter contributed her helicopters to an airlift effort to move Indian soldiers to Panmunjon to supervise the exchange of prisoners of war at the Joint Security Area.

Her stay in the western Pacific was short, and on 31 January 1956, she left Yokosuka, Japan, to return home, arriving in Long Beach, California, in early February.

Proposals to radically rebuild the Commencement Bays either with an angled flight deck and various structural improvements or lengthen their hulls by 30 ft (9.1 m) and replace their propulsion machinery to increase speed came to nothing, as they were deemed to be too expensive.