The Polish & Slavic Federal Credit Union was established in 1976 by the founders of the Polish & Slavic Center led by Rev. Longin Tolczyk. The founders wanted to help immigrants who, upon arrival in New York City, wanted to buy houses in Greenpoint but were turned down by the banks. Banks were unwilling to extend credit for purchases or renovations of real estate properties to people who did not yet have an established credit history, especially since these properties were located in an area that was run-down at the time.
On December 27, 1976 federal authorities of the National Credit Union Administration registered the “Industrial and Commercial Federal Credit Union”. The Credit Union charter was signed by Rev. Emil Altmajer, Marek Luniewski, Jan Raczkowski, Rev. Longin Tolczyk, Jozef Waltos, Jerzy Wolinski and Halina Zolnierowicz.
Two and a half years later, the name of the Credit Union was changed to “Polish & Slavic Federal Credit Union”. The first PSFCU office was located at 940 Manhattan Avenue, adjacent to the canteen of the Polish & Slavic Center. In 1981, PSFCU purchased a building at 140 Greenpoint Avenue, which served as its headquarters.
In 1987, our Credit Union opened a second branch located in Union, NJ, offering its services to the vast community of Polish immigrants residing in that part of the state. Subsequent years witnessed a quick growth of the PSFCU, with new branches being opened on Kent Street, Brooklyn, NY (1992), in Boro Park, Brooklyn, NY (1996), Clifton, NJ (1996), Ridgewood, Queens, NY (2001), Linden, NJ (2003), Copiague, NY (2004), McGuinness Blvd, Brooklyn, NY (2005), Maspeth, Queens, NY (2008), Staten Island, NY (2012). On February 25, 2007, PSFCU ventured into Pennsylvania, where it deployed an ATM for Polish pilgrims at American Czestochowa in Doylestown. In 2010, PSFCU started its expansion into Illinois into the areas surrounding Chicago, with branches in Norridge and Mr. Prospect, and soon after added another branches in Bridgeview (2011) and in Schaumburg (2015), Glendale Heights, IL (2018), and Orland Park, IL (2019)
In addition to our branches, our Credit Union also has a modern Operations Center located in Fairfield, NJ, allowing us to serve over 108 thousand members. With over 2, 5 billion dollars in assets, PSFCU is currently the largest ethnic credit union in the United States
Changes to the Property Value could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
You can change the property value by moving the Property Value slider up or down or by entering a new Property Value manually in the Property Value box.
When you change the Property Value, only the LTV will change, and the Loan Amount will remain the same Loan Amount.
Other advanced sliders’ options are available with Lendersa® Advanced Calculator
CloseChanges to the loan amount, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
CloseLTV is the abbreviation of Loan To Value, and it is the ratio between the Loan Amount and the Property Value. The formula to calculate LTV is Loan Amount divided by the property value. 
Example: Loan Amount $300,000, Property value $400,000 
Changes to the LTV, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
Close
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