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History
The Polish-Slavic Federal Credit Union (P-SFUK) was founded in 1976 by the founders of the Polish-Slavic Centre centered around Father Longin Tołczyk. P-SFUK’s goal was to help expatriates who, upon arrival in New York, did not yet have a credit history and banks did not want to lend them money to buy and renovate properties in the neglected Greenpoint district.

https://pl.psfcu.com/strona-glowna

On December 27, 1976, the Federal Credit Union Registered the Industrial and Trade Federal Credit Union. The founding document was signed by Fr. Emil Altmajer, Marek Luniewski, Jan Raczkowski, Fr. Longin Tołczyk, Józef Waltosia, Jerzy Wolinski and Halina Żołnierowicz.

Two and a half years later, the previous name was changed to “Polish & Slavic Federal Credit Union”. P-SFUK’s first office was located at 940 Manhattan Ave., which housed the canteen of the Polish-Slavic Center. In 1981, P-SFUK bought the building at 140 Greenpoint Ave., which became its headquarters.

In 1987, our Union opened a second branch in Union, offering its services to a large group of Polish emigrants who lived in this part of New Jersey. In the following years there was a rapid development of P-SFUK, new branches were established for Kent (1992), Boro Park (1996), Clifton, NJ (1996), Ridgewood (2001), Bayonne, NJ (2001), Linden, NJ (2003), Copiague (2004) and McGuinness Blvd. (2005). On February 25, 2007, P-SFUK officially arrived in Pennsylvania, where in American Częstochowa (doylestown) it put its ATMs into service to Polish pilgrims. On January 30, 2010, our Union crossed the borders of another state, opening its first 2 branches in Chicago, Illinois.

Today, in addition to fourteen branches, our union also has a modern operations center in Fairfield, N.J., which allows more than 70,000 members to be serviced. With more than $1 billion in assets, P-SFUK is now the largest ethnic credit union in the United States and one of the 100 largest credit unions in the U.S.

What is the difference between our Union and the bank?
The credit union is owned by all its customers-members, while the bank is usually owned by a narrow group of shareholders. The bank, unlike the credit union, has little interest in how the local community thrives. The credit union’s profit is made by all members and the local community they represent, including various organizations that provide services to the community (schools, parishes, scouts, student organizations, etc.). The bank’s activities are focused on making the most profit for shareholders who rarely live in its vicinity, and often even in other countries.