POLISH & SLAVIC FEDERAL CREDIT UNION
CONTINUES WITH AGGRESSIVE EXPANSION

BROOKLYN, NY (March 31, 2009) – One month after opening a 5,400-square-foot branch in Maspeth, Queens, the Polish & Slavic Federal Credit Union continued to expand its footprint with the unveiling of a modern new facility in Trenton, New Jersey, to meet the demand and needs of its increasingly dispersing membership.

The Trenton branch’s grand opening this past week marks the sixth New Jersey-based branch of the PSFCU, and the third new branch overall that the credit union has opened in the past 12 months. One year ago, the PSFCU opened a new branch in Garfield, New Jersey.

New Maspeth Branch

“It’s amazing to see a home-grown financial institution continue to make bold and giant strides while its competitors do precisely the reverse,” said Manuel Segura, Trenton’s Councilman At Large.  “It’s an inspiration to the community to see a vibrant and well-managed financial institution continue to grow.  They will no doubt find success in our city.”

New Trenton Branch

Built within six months of its ground-breaking, the modern and airy Trenton branch is expected to serve the 20,000 credit union members throughout central New Jersey and the Philadelphia area.  The branch is 3,500 square-feet and will employ 10 full-time workers.

“Our purpose in expanding rests solely on accommodating the expanding nature of  our membership,” said Elzbieta Baumgartner, Vice Chairman of PSFCU Board of Directors who addressed the guest in Trenton.  “We’ve been blessed with great members, a strong balance sheet and a vision that has proven to be successful.  We expect more great things to come from our new locations.”

 Both the Maspeth and Trenton ribbon-cutting ceremonies were attended by local and state officials, as well as religious leaders and dignitaries from the Polish-American community. 

Trenton Branch Opening

Currently, the Credit Union has 13 traditional branches, an impressive Operations Center, a “virtual” electronic branch via the Internet, and a full-function mobile branch in the form of an outfitted truck that is dispatched to communities, ethnic gatherings and other locations populated by Polish-Americans.

 “It’s clear to see that well-run, community-centric credit unions are more in tune with its members than these monolithic banks that really have no intention of putting down roots or making a sincere effort to be part of the community,” said Mr. Chmielewski, PSFCU’s CEO.  “Our credit union is made up of our neighbors, and we’ll always do right by them.”