SCHAUMBURG, Ill., Sept. 14, 2015 (GLOBE NEWSWIRE) -- The nation’s largest ethnic credit union, the Polish & Slavic Federal Credit Union (PSFCU), opened on Saturday its 16th branch nationally with the grand opening of a new facility in the Chicago suburb of Schaumburg. This marks the Brooklyn-based credit union’s fourth Chicago area branch location.
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The latest addition to the growing PSFCU footprint is located at 1112 South Roselle Road in Schaumburg. The 3,000 square-foot location will serve the large Polish-American community residing in and around the northern suburbs of Schaumburg, Hoffman Estates and Elgin.
“I am confident that this branch will continue the great success of our institution throughout the great metropolitan Chicago region,” said Bogdan Chmielewski, Chief Executive Officer of PSFCU during the grand opening ceremony. “We have undoubtedly become a significant and fully integrated part of the life of our members and the entire Polish-American community in the Chicago area. This region holds great promise for our credit union.”
The PSFCU has been operating in Illinois since 2010, when two Chicago area branches debuted: one in Mt. Prospect and the other in Norridge. A year later, a third branch was opened in the village of Bridgeview, located just 13 miles southwest of the Chicago Loop. In less than six years of operation, the three PSFCU branches have attracted more than 13,000 members and nearly $123 million in deposits. It has also made $131 million in loans to the community.
On hand to help open the doors to PSFCU’s fourth Illinois branch were the Village of Schaumburg mayor, Al Larson, and Bryan Schneider, Secretary of the Illinois Department of Financial and Professional Regulation. “This event presents an exciting opportunity for everyone in attendance to join together with fellow members of your organization to share important information and ideas. I commend you for your service to the community. On behalf of the people of Illinois, I offer my best wishes for an enjoyable and memorable occasion” wrote Governor Bruce Rauner in a letter.
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 84,000 members and more than $1.6 billion in assets, PSFCU is the largest ethnic federal credit union in the United States today.