BROOKLYN, N.Y.–Citing its “excellent financial condition,” Polish & Slavic FCU is reporting it has awarded scholarships totaling $600,000 to a 589 young members through its PSFCU Scholarship Program. Both numbers represent a record in the more than 24-year history of PSFCU's program, which the credit union said underscores its 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 at Irving Plaza, in a building that also houses Post 2 of the Polish Army Veterans Association, in New York City. The event was attended by the recipients and their family members, as well as invited guests, including guests of honor who included 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.
Result of ‘Hard Work’
The $2.5-billion PSFCU reported 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,” said Chmielewski.
Added Chairman Krzysztof Matyszczyk, “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.”
During their remarks, Ambassador Szczerski and Professor Nowak referred to the national identity of Poles and the Polish-American community, discussed Polish history and the contributions of prominent Poles to the development of science and technology.
Ceremony in Chicago
Meanwhile, a separate ceremony was held in Chicago for students from the Midwest region at the Polish Museum of America.
Former NCUA Chairman Michael Fryzel 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."
PSFCU said the record number of scholarships awarded is evidence of its growing commitment to promoting education and young talent of Polish descent.
Two Components
The PSFCU Scholarship Program has two main components: a program for high school graduates, as well as for college students. Of the winners this year, 398 were high school graduates and 191 were college students. In addition, 10 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.
‘Integral Part’
“The internship is an integral part of the PSFCU Scholarship Program,” the credit union said. “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.”
Polish & Slavic Federal Credit Union now has 23 branches in New York, New Jersey, Illinois, Pennsylvania and Connecticut and an operations center in Fairfield, N.J.
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