Record $600,000 In Scholarships Awarded To A Record Number Of Young PSFCU Members

Former NCUA Chairman Michael Fryzel Praises Brooklyn Based Polish & Slavic FCU For Its Community Involvement

BROOKLYN, N.Y., June 20, 2024 /PRNewswire/ -- Thanks to its excellent financial condition, Polish & Slavic Federal Credit Union was able to award exceptional students with scholarships totaling $600,000. 589 young members of were rewarded in the course of the 2024 edition of the prestigious PSFCU Scholarship Program. Both numbers represent a record in the more than 24-year history of PSFCU's program, which underscores the Credit Union's commitment to supporting young talent and future leaders of the Polish-American community.

This year's scholarship ceremony for students from the East Coast of the United States was held on June 12 at Irving Plaza, in a building that also houses Post 2 of the Polish Army Veterans Association, located at 17 Irving Place in New York City. The event was attended by the recipients and their family members, as well as invited guests, including guests of honor: Permanent Representative of the Republic of Poland to the United Nations, Ambassador Krzysztof Szczerski, and Professor Andrzej Nowak, a prominent historian, Sovietologist, academician and lecturer at Jagiellonian University in Krakow, Poland

The ceremony was opened by PSFCU President/CEO Bogdan Chmielewski, who stressed that the scholarship program is the result of the hard work of our Credit Union's employees, as well as the result of the commitment of all our members. "Thanks to the fact that you open accounts with us, take out loans and use other services, the Polish & Slavic Federal Credit Union can operate and thrive, but it can also support the Polish-American community, and I am incredibly proud of that." - he said. Both he and PSFCU Board of Directors Chairman Krzysztof Matyszczyk, who spoke afterwards, congratulated the program's winners, as well as their parents, for their efforts and involvement in the Polish community. "In your adult life, never forget your roots. Be proud of your Polish heritage, and, just like now, work diligently for the Polish-American community and be active on its behalf," said Chairman Matyszczyk.

Special guests at the New York ceremony, Ambassador Szczerski and Professor Nowak in their speeches referred to the national identity of Poles and the Polish-American community. Their inspiring speeches added a special touch to the ceremony. Both guests mentioned Poland's history and the contributions of prominent Poles to the development of science and technology, emphasizing the fact that the young scholarship recipients should be all the more proud of the ties they have with Poland and Poles.

The scholarship ceremony for students from the Midwest region was held on Saturday, June 15. As in previous years, it took place at the Polish Museum of America, located at 984 N. Milwaukee Avenue in Chicago. Former National Credit Union Administration (NCUA) Chairman Michael Fryzel was also a guest at the ceremony. In his speech, he addressed the scholarship program winners directly. "PSFCU's scholarship program has been going on for many years and has helped many young people who are now doctors, lawyers, accountants, nurses or programmers," he said. "Today is your day and the beginning of your journey, but never forget that it was PSFCU that helped you achieve your goals. There are few credit unions that help their members the way the Polish & Slavic Federal Credit Union does, donating huge sums of money for scholarships for its members."

Scholarship award ceremonies are an excellent opportunity for program winners to make new friends and exchange experiences with each other and with invited guests. The PSFCU scholarship awards ceremony is an inspiring and motivating event that highlights the importance of investing in the future of the younger generation. The record number of scholarships awarded is evidence of PSFCU's growing commitment to promoting education and young talent of Polish descent. Polish & Slavic Federal Credit Union believes that investing in the future of young Poles will benefit the entire Polish community in the United States.

The PSFCU Scholarship Program has two main components: a program for high school graduates, as well as for college students. This year, a total of 589 people were among the winners: 398 high school graduates and 191 college students. In addition, ten young PSFCU members took part in the fifth edition of the Presidential Internship - a study visit to Poland organized in cooperation with the Office of the President of the Republic of Poland, Andrzej Duda, and GE Aerospace. The internship is an integral part of the PSFCU Scholarship Program. Since 2001, the first edition of the program, PSFCU has already allocated $7.6 million to help educate the younger generation, having already supported more than 6,500 students under the program.

About the PSFCU

Founded in 1976 by a group of Polish immigrants to help other ethnic Poles obtain mortgages, the Polish & Slavic Federal Credit Union now has 23 branches in New York, New Jersey, Illinois, Pennsylvania and Connecticut and an operations center in Fairfield, NJ. In addition, PSFCU offers mortgage loans on properties located in the states of Florida and Indiana. Credit Union members can access our services through our Online Banking, accessible through our www.psfcu.com website or through our mobile app. Through its scholarship program, PSFCU has thus far granted over 7.6 million dollars to over 6,500 students. The 48-year-old credit union has over $2.5 billion in assets and serves over 120,000 members. 

SOURCE Polish & Slavic Federal Credit Union