The nation's largest ethnically based credit union has hired on a former banker as CEO.

The Brooklyn, N.Y.-based Polish & Slavic Federal Credit Union has more than 72,000 members and $1.4 billion in assets. It also has had a history of controversy, fights and litigation on its board of directors, but has largely left those times behind as it has embarked on a significant expansion into the Polish and Slavic immigrant communities in the Chicago area.

The new CEO, Oskar Mielczarek, is a graduate of the Harvard Business School and has worked previously at JPMorgan Chase, Merrill Lynch and Barclays, both in North America and Europe, the CU said.

“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 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 PSCFU after an extensive selection process,” said Tomasz Bortnik, chairman of the board of 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.”