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

The Brooklyn, N.Y.-based Polish & Slavic Federal CreditUnion has more than 72,000 members and $1.4 billion in assets. Italso 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 asignificant expansion into the Polish and Slavic immigrantcommunities in the Chicago area.

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

“For a person with my financial background, interests andcommitment to the Polish community in America, I cannot think of amore fitting opportunity,” said Mielczarek. “The Polish &Slavic Federal Credit Union has long been a beacon of hope andpride for thousands of Polish-Americans, and has recently beenidentified as an example of how a financial organization shouldoperate. This success, now lasting 35 years, has been achievedthanks to the hard work of our employees and loyalty of ourmembers. We will continue to foster and encourage the spirit ofteamwork and dedication to the community that characterizes ourinstitution. I am very eager to build on this success and continueto be an integral part of Polish-American society across thecountry. Our goal is to provide the best service and attractiverates 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 selectionprocess,” said Tomasz Bortnik, chairman of the board of PSFCU. “Theboard feels confident that Mr. Mielczarek's stewardship andteam-oriented managerial style will bring great value to thelargest ethnic credit union in the country.”