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News Now

CU System
Polish and Slavic FCU grants 300000 in scholarships
NEW YORK (7/11/08)--The Polish & Slavic FCU (PSFCU) finished off its annual scholarship program this year by donating $300,000 to more than 250 high school and college students throughout the tri-state New York area. Over the past seven years, PSFCU, the largest U.S. ethnic credit union, has given over $1.3 million to more than 800 students. In 2007, almost $300,000 was granted in scholarships to 191 students. With more than 70,000 members, the PSFCU scholarship program annually earmarks about $4 per member toward scholarships. “Time and again, our members have expressed their support for the program and the collective will to grow it,” said Bogdan Chmielewski, CEO. “That’s where our strength is. There are many banks that try to lure our members, but none that are willing to match our program. “There is no better example of how a local credit union can make a difference in this community than helping improve the educational prospects for the young generation,” he added. At a recent event in Brooklyn, PSFCU provided scholarships--ranging from $1,000 to $5,000--to undergraduate and graduate-level students. An independent panel of 12 people reviewed nearly 200 applications before choosing the final 144 winners. Joining forces with the Credit Union Association of New York earlier, PSFCU awarded 115 college-bound high school graduates with scholarships ranging from $500 to $1,750. This marks the seventh year that PSFCU has worked with the league to promote higher education for New York area students.


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