Polish & Slavic Federal Credit Union Welcomes New CEO

Oskar Mielczarek Brings Blue-Chip Banking Experience To Nation's Largest Ethnic Credit Union

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Polish & Slavic Federal Credit Union

May 26, 2011, 05:26 ET

NEW YORK, May 26, 2011 /PRNewswire/ -- As the Polish & Slavic Federal Credit Union continues to grow and expand its branch network, the Board of Directors proudly announced today the addition of Oskar Mielczarek as its new Chief Executive Officer and President.

(Photo: http://photos.prnewswire.com/prnh/20110526/NY10127 )

Mr. Mielczarek, a seasoned finance executive, joins the nation's largest ethnic credit union at an opportune time, as the nation's economy starts to emerge from a devastating recession. Mr. Mielczarek has an extensive background in credit, asset-backed financing and marketing of financial products earned at J.P. Morgan Chase, Merrill Lynch and Barclays in North America and Europe.

The Credit Union is currently enjoying a time of rapid growth and record assets. Two weeks earlier, the PSFCU officially opened its third Chicago area branch, and its sixth new branch in the past three and a half years. The credit union has also increased assets 7% over the past two years and increased membership by 4% during the same period.

"For a person with my financial background, interests and commitment to the Polish community in America, I cannot think of a more fitting opportunity," said Mr. Mielczarek. "The Polish & Slavic Federal Credit Union has long been a beacon of hope and pride for thousands of Polish-Americans, and has recently been identified as an example of how a financial organization should operate. This success, now lasting 35 years, has been achieved thanks to the hard work of our employees and loyalty of our members. We will continue to foster and encourage the spirit of teamwork and dedication to the community that characterizes our institution. I am very eager to build on this success and continue to be an integral part of Polish-American society across the country. Our goal is to provide the best service and attractive rates to our members by adhering to the principles of discipline, continuity and cooperation."

"The Board of Directors is extremely pleased to welcome Mr. Mielczarek as the new CEO of the PSFCU after an extensive selection process," said Tomasz Bortnik, Chairman of the Board of the PSFCU. "The Board feels confident that Mr. Mielczarek's stewardship and team-oriented managerial style will bring great value to the largest ethnic credit union in the country."

Mr. Mielczarek has a master's degree in business administration from the Harvard Business School, and a bachelor's degree in European business administration from ICADE University in Madrid and Middlesex University in London. He is fluent in Polish, English, Spanish and French.

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 15 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 almost $1.4 billion in assets, serves more than 72,500 members of the Polish and Slavic communities. PSFCU, which is the largest ethnic credit union in the United States, also operates ATMs at the National Shrine at Doylestown, PA.

SOURCE Polish & Slavic Federal Credit Union