Despite Being Battered by Hurricane Sandy, PSFCU Continues to Lend a Hand to Local Polish Communities

Credit Union Providing Emergency Relief Loans, Donating to Local Schools, and Assisting With Ongoing Relief Efforts in Brooklyn and Staten Island

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Polish & Slavic Federal Credit Union

Dec 14, 2012, 04:56 ET

BROOKLYN, N.Y., Dec. 14, 2012 /PRNewswire/ -- With tens of thousands of its members residing and working in or near the most heavily damaged areas affected by Hurricane Sandy, the Brooklyn-based Polish & Slavic Federal Credit Union has turned much of its efforts the past 45 days toward assisting those hardest hit, while also scrambling to repair its first branch on Staten Island that was scheduled to open a week after the storm.

(Photo: http://photos.prnewswire.com/prnh/20121214/NY30228 )

The nation's largest ethnic credit union was severely affected by power outages in the wake of the storm, as most of its New York area branches were out of service for as long as five days. The grand opening celebration of its new Staten Island branch was scheduled for November 5, but was postponed due to the damage that the hurricane inflicted on the facility. The credit union was able to repair it quickly, and it officially opened December 15.

Immediately after the hurricane hit, however, the PSFCU actively began collecting and dispensing necessary clothing and other items for hurricane victims.

In collecting batteries, warm clothing, blankets and other necessities, the PSFCU distributed these essentials to the victims of Hurricane Sandy through local parishes and community organizations. The PSFCU website also provided important information in both English and Polish on how to file the proper applications for FEMA assistance.

During the power outages that paralyzed many communities for days, and even weeks, the PSFCU set up charging stations at all open branches, and even created a dedicated room inside its Clifton (NJ) branch for children who were without power to do their homework. The credit union's mobile branch also moved from location to location where branches were inoperable so that members could access their accounts.

"The destruction wrought by this storm was incomprehensible to all who witnessed it; and so many of our members were hit hardest," said Marzena Wierzbowska, chairperson of the PSFCU board of directors. "But this is what a community-based credit union does: it reaches deep into the neighborhoods and families in which it serves, and does everything in its power to lift those who need help the most. We're proud of what we're able to do for our members, but there's still much work to be done."

The PSFCU did not forget about the long-term relief efforts: The credit union has assigned $2 million for low-interest emergency relief loans that are processed on a priority basis within 24 hours. It continues to process these loan requests for residents of New York, New Jersey and Connecticut who were affected by the storm. The board of directors also provided Polish Supplementary Schools with a donation of $10,000 in order to purchase school supplies for children, and for buying teaching aids for schools affected by the flooding.

"This is an ongoing effort, but we'd like to offer our sincere thanks to all those who volunteered and participated in our relief efforts. It was a tremendous undertaking, but I'm not surprised how we all reacted in helping our friends and neighbors. The circumstances are unfortunate, but the response was awe-inspiring," said Wierzbowska.

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 16 branches in New York, New Jersey and Illinois, and an operations center in Fairfield, NJ. The credit union also has a Mobile Branch, which is used at community events and an Online Branch accessible through their website, www.psfcu.com. The 35-year-old credit union, with more than $1.5 billion in assets, serves more than 78,000 members of the Polish and Slavic communities. The union, which is the largest ethnic credit union in the United States, also operates an ATM at the National Shrine at Doylestown, PA.

SOURCE Polish & Slavic Federal Credit Union