Polish & Slavic Credit Union Awards $250,000 in Scholarships to 223 Young Members

NEW YORK, June 16, 2015 (GLOBE NEWSWIRE) -- The nation’s largest ethnic credit union, the Polish & Slavic Federal Credit Union (PSFCU) announced that it handed out a quarter-million dollars in academic scholarships to 223 high school and college students these past two weeks, as part of its PSFCU Scholarship Program that has awarded more than $3.3 million over the past 15 years to members.

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At separate ceremonies in New York, New Jersey and Illinois this past week, PSFCU officials recognized 159 high school graduates and 64 current college students to receive scholarships totaling $250,000. The different locations represent the three states in which PSFCU operates. The awards ceremony were held at the NEFCU branch in Mt. Prospect, IL (29 recipients), its headquarters in the Greenpoint section of Brooklyn (71 recipients), and its operations center in Fairfield, NJ (123 recipients).

The annual scholarship program is open to young PSFCU members. The PSFCU Scholarship Program began providing academic scholarships to students in 2001. Since then, the credit union has handed out $3.3 million in funds to 2,800 high school graduates and college students.

“Our credit union is primarily a financial institution, but judging by the results of our scholarship program, it’s obvious that we are also successfully fulfilling our equally important mission of being a strong supporter of our members and the Polish-American community at large,” said Bogdan Chmielewski, chief executive officer of the PSFCU. “The Scholarship Program is our flagship undertaking, and to reflect on the fact that we have been able to grant more than $3.3 million toward bettering the lives of more than 2,800 young members over these past 15 years gives us a tremendous sense of pride.”

As a result of the PSFCU’s efforts to assist academically inclined high school and college students these past 15 years, young members of the Brooklyn-based credit union have been able to study at such prestigious universities as Harvard, Yale, Columbia, Princeton, Stanford, NYU and M.I.T.

In speaking to the scholarship award-winners in Brooklyn, PSFCU Chairman of the Board Krzysztof Matyszczyk said, “My wish to you is that the knowledge you are gaining now – and will certainly gain – at some of the finest colleges in the country is also being consumed for the good of the Polish community. I can only hope that at least some of you will one day hold an office in the management or directorship of the Polish & Slavic Federal Credit Union, or in the governments of other Polish community organizations and associations. We should be so fortunate.”

The guest of honor at the New York and Fairfield ceremonies was Dr. John Lenczowski, founder and president of the Institute of World Politics, a school in Washington D.C. that educates specialists on issues of national security and international relations. "You are both Americans and people of Polish ancestry. I think this is an identity for which you should be extremely proud," said Mr. Lenczowski.

The Polish & Slavic Federal Credit Union was established in the Greenpoint section of Brooklyn, New York, in 1976. Since then, it has expanded to 16 branches in three states: New York, New Jersey and Illinois. With more than 83,000 members and more than $1.6 billion in assets, PSFCU is the largest ethnic federal credit union in the United States today.

CONTACT: Pawel Burdzy 973-808-3240 ext. 6134 pburdzy@psfcu.net

Source:Polish & Slavic Federal Credit Union