FAIRFIELD, N.J. — New Jersey Credit Union League President/CEO Paul Gentile recently visited the Polish & Slavic Federal Credit Union's operations center here in an effort to strengthen the credit union movement throughout the Garden State and increase cooperation between local members.
In touring the facilities of the country's largest ethnic credit union, Gentile met with top officials, and saw first-hand how the rapidly-growing organization is able to show continued growth year after year. Additionally, Gentile was able to witness how PSFCU is able to go ahead with its plans to open two new branches in New Jersey, a mobile branch, and an e-branch, despite facing a difficult financial environment.
"I cannot begin to tell you how impressed I am with the PSFCU's operations," said Gentile. "It's no secret that this is a thriving and entrepreneurial outfit, and after meeting with its leadership, and touring its facility here in New Jersey, there's no doubt that all our credit union members can benefit from learning about the solutions that are currently being implemented here, like for instance the point of sale TV."
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Headquartered in Brooklyn, the PSFCU currently has four branches in New Jersey: Bayonne, Union, Clifton and Linden. It has announced plans to open two new branches this year in Garfield and Trenton. Also, in keeping with its member-centric mission, the credit union will be introducing a full-service mobile branch this year that will be paraded and utilized in all the communities that are home to current or potential members throughout New Jersey.
"We see great synergy between what we do in our communities and what others in the NJCUL are accomplishing–providing outstanding service and offerings that no bank is willing or able to do," said PSFCU CEO Bogdan Chmielewski. "We are an ethnic credit union that operates in a unique niche market. As a result, what we do for our members does not always reach those in leadership at other credit unions. That's why we're so excited that the league is reaching out to us to find out how our expertise can benefit other unions and to demonstrate to us how we can benefit from closer cooperation with the league. We are very excited about the prospect of our future cooperation"
Chmielewski said PSFCU's recent accomplishments include growth in all categories for 2007, a loan delinquency rate that is more than half of the average for US credit unions of comparable size, and an extremely low rate of foreclosures (none for 2007).
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