our credit union - psfcu...3 our credit union | march 2018 | 1.855.psfcu.4u (1.855.773.2848) |...

Vol. 5 | No. 3 (51) | Year 2018March 2018

Our Credit Union

PSFCU In Numbersinformation as of January 31, 2018

Assets

$1,837,896,283Loans

$1,053,204,351Net Worth

$181,986,045Number of Members

93,158

MONTHLY NEWSLETTER OF THE POLISH & SLAVIC FEDERAL CREDIT UNION

Dear Members,

On February 21 of thisyear a con cert featu -ring four outstan dingpia nists was held atCarnegie Hall in Man -hattan, launching NewYork’s official cele -bration of the 100th anniversary of theregaining of Poland’s independence. Addingto the significance of the event is the factthat 85 years ago Ignacy Jan Paderewski, oneof the founders of the Polish State, alsoperformed a concert of Frederic Chopin’sworks in that same concert hall. We areproud that the Polish & Slavic Federal CreditUnion was the main sponsor of this veryimportant event for the Polish-Americancommunity. Our Credit Union will activelysupport many similar events celebratingthe centennial of the regaining of Polishindependence, so that this important datein Polish history will be remembered andappreciated not only by Poles, but will alsobe noticed by American society. I encourageall of you to actively promote Poland’shistory and achievements as well as thecontribution of Poles to American cultureand world civilization.

Those of you who are following theeconomic situation in the United Statesprobably agree with the widespreadexpectation that interest rates will be raised.In order to encourage and facilitate thepurchase of a home or refinancing of amortgage for our existing and potentialmembers, through the end of April thisyear we are offering a special promotion

Polish & Slavic Federal Credit Union hasreceived a special recognition for its charitableactivities.

During its annual Valentine’s Day Ball,New York’s Children’s Smile Foundationawarded its special annual prize to PSFCUfor its charitable activities. “This year, we areawarding the prize to our Foundation’s greatfriend, the Polish & Slavic Federal CreditUnion, which has been generously suppor -

ting us for many years,” said Attorney MariuszSniarowski, Foundation President, at the ballat Chateau Briand in Carle Place, New York.“We should remember that the success ofthe entire Polish community is due to thefact that we work together,” said PSFCUBoard of Directors Chairman KrzysztofMatyszczyk as he accepted the prize inrecognition of such initiatives as the Chil -

An Award for PSFCU

Chairman of the PSFCU Board of Directors Krzysztof Matyszczyk with representatives of the Board, SupervisoryCommittee and PSFCU management received the award from the Children’s Smile Foundation

waiving the $350 mortgage application fee.As usual we encourage you to make your

retirement account (IRA) contributions bythis April 17. This year we are offering anattractive 2.25% interest rate on five-year IRATerm Shares. To see all our special offers,please visit our branches and follow ourCredit Union’s activity in the social media.

Finally, I am pleased to announce that weare finalizing the opening of the CreditUnion’s 18th branch in Glendale Heights,Illinois. This is the fifth branch in that stateand it is being opened in response to thePolish-American community’s demand for

our services there. The branch will beginserving our members in the Chicago area injust a few weeks and we will inform you ofthe exact opening date in the media and onour website.

On behalf of the Board of Directors, theSupervisory Committee and our employees, I wish you and your loved ones as well asthe entire Polish community in the UnitedStates a peaceful and joyful Easter.

Bogdan ChmielewskiPSFCU President/CEO

to all PSFCU Members,their Families and all of Polonia from

Polish & SlavicFederal Credit Union

Happy Easter!...continued on page 2

NASZA_UNIA_newsletter_March_2018_EN_EN 2/27/2018 6:15 PM

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Our Credit Union | March 2018 | 1.855.PSFCU.4U (1.855.773.2848) | www.psfcu.com

dren’s Holiday Smile fundraiser, which overfour years yielded over $500,000 collectedfor hospices in Poland and for sick Polish-American children.

Over three hundred guests enjoyed theball, which was hosted by a special guestfrom Poland, the well-known televisionanchor Krzysztof Ziemiec. Over $11,000was raised at an auction during the cele -bration. A silver and amber necklace donatedby Polish First Lady Poland Agata Korn -hauser-Duda brought the highest price($4,000). Also auctioned off was ‘A Nude afterBathing’ painted by Parisian artist JoannaSarapata ($3,500), a painting by Bogdan

Kujawski ($1,500), a T-shirt and calendarsigned by Kamil Stoch, and a photographautographed by the Gold Team ski jumpersfrom the 2017 World Cham pionship (KamilaStocha, Maciej Kot, Dawid Kubacki and PiotrZyla), which brought $800 (gift from Polish& Slavic Federal Credit Union).

That evening there was also a raffle withthe main prize, the latest iPhone X, fundedby the Belvedere Bridge company, and therewas also some jewelry from the Krukcompany, and two Michael Kors watchesdonated by Attorney Joanna Gwozdz, Esq.,as well as two tickets to a concert by Perfectprovided by Mr. Andrzej Pelczynski. Theentire proceeds of the ball were allocated tohelping disadvantaged Polish children.

On February 21, New York’s Carnegie Hallwas the venue for a gala event commemo -rating Ignacy Jan Paderewski. The PSFCU wasthe main sponsor of the celebration organizedby the American “Gazeta Polska” Clubsfoundation and Poland’s Consulate Generalin New York on the 85th anniversary of thecomposer’s last concert at Carnegie Hall.

“Ignacy Paderewski’s extraordinarymusical gift was strongly combined withboundless patriotism and the will to fight foran independent Poland, which was cha -racteristic at every moment of his life. He wasa virtuoso of two worlds: music, with whichhe swept everyone away, and politics, inwhich he conducted the most importantplay of his life, the fight for Poland, itsborders, sovereignty and integrity,” saidPolish Deputy House Speaker Beata Mazurekto those in attendance. Brief speeches werealso delivered by Polish Consul General inNew York, Maciej Golubiewski, and Ministerof Foreign Affairs Jacek Czaputowicz. A letterfrom New York’s Mayor Bill de Blasio wasalso read. The prestigious gala concert wasfilled almost to the last seat.

The concert at the renowned CarnegieHall launched the observance of the 100th

anniversary of the regaining of Poland’sindependence. During the concert, outstan -ding American pianist Kevin Kenner andthree Polish piano competition winners,Szymon Nehring, Lukasz Krupinski andMarek Brach, presented the works ofPaderewski and Frederic Chopin.

The Paderewski gala at Carnegie Hall wasnot just a coincidence, because the virtuosopianist performed nearly 90 times at thisvenue. The audience of 2000 included repre -sentatives of the Polish community and

diplomats from all over the world. PSFCUwas the main sponsor of the grand concert.

... continued from page 1

Ignacy Jan Paderewski at Carnegie Hall

PSFCU Receives an Award cont.

The late Wladyslaw Fraczek (1935-2017)was buried on February 13, 2018, at thecemetery at the Shrine of Our Lady ofCzestochowa in Doylestown, PA (theAmerican Czestochowa). The deceased wasactive in the Polish community and wasone of the founders and a member of thePolish & Slavic Federal Credit Union withmember identification number 2. His funeralwas held in Greenpoint, after which hisbody was laid to rest in a grave at thecemetery at the American Czestochowa.Director Pawel Maciag said farewell to Mr.Fraczek on behalf of the PSFCU.

Polish Minister of Foreign Affairs Jacek Czaputowicz during the gala concert honoring Ignacy Jan Paderewski

Last Farewell to Oneof PSFCU Founders

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Promotion is valid from February 1 through April 30, 2018 and applies to 1-4 - family owner-occupied residential home mortgages. Borrowers must meetstandard eligibility requirements, subject to income verification. Loans with down payment of less than 20% of the home value require private mortgageinsurance. Offer applies exclusively to PSFCU members. Other restrictions may also apply.

TIME FOR KEY DECISIONSWaived mortgage application fee

Apply for a PSFCU mortgage loan.Now you will additionally save

$350!

TIME FOR KEY DECISIONS

This is the last chance to take advantage ofour promotional term share account forIndividual Retirement Account (IRA)contributions for 2017 and 2018 at a rate of2.25% APY* for five years. The promotionlasts only until April 17, 2018.

Funds required to open the term shareaccount must be deposited in a new orexisting IRA: the minimum amount is $500and the maximum amount is the totalcontribution limit set by the InternalRevenue Service (IRS) for 2017/2018.Additional information is available at PSFCUbranches or at our Member Services Centerat 1.855.PSFCU.4U (1.855.773.2848).

PSFCU offers Traditional and Roth Indi -vidual Retirement Accounts (IRAs), whichallow you to invest additional funds on theterms of your choosing, while maintainingcontrol over your investments. Both accountsfeature tax benefits, and the amount youcontribute to a Traditional or Roth IRAaccount depends on the qualificationrequirements established by the UnitedStates Federal government. Even if you havea retirement plan at work, IRA accounts letyou invest additional funds on the terms ofyour choosing, while maintaining controlover the money you invest.

Although Traditional and Roth accountsare a very good option for saving andenjoying special tax benefits, the choicebetween the accounts is a complicateddecision requiring you to consider manyfactors. Therefore you should consult anydecision related to IRA accounts with yourtax advisor. IRA accounts are regulated byFederal law and the IRS holds accountholders responsible for all decisionsregarding those accounts.

Additional information on other termshare accounts offered by the PSFCU isavailable at www.psfcu.com.

*APY-Annual Percentage Yield as of 01/01/2018. Promotion is valid for term

shares opened between January 1 and April 17, 2018. Funds required to

open the term share account must be deposited to a new or existing IRA

account during the promotional period. Minimum balance of $500.00 is

required to open a term share account, up to the maximum amount of

contribution determined by the IRS for years 2017 and 2018. Early withdrawal

penalties may apply. Additional information may be obtained at PSFCU branches

or by calling our Member Services Center at 1.855.PSFCU.4U

(1.855.773.2848). Consult your tax advisor before making any decision related

to an IRA account. Additional information about other term shares offered

by PSFCU is available at www.psfcu.com. Offer for PSFCU members only.

Membership restrictions apply. Other restrictions apply.

Save with an IRA Account Pay Your Taxes UsingYour PSFCU Credit

CardThis tax season, manage your financeswisely. PSFCU credit card gives you addi -tional options as well as flexibility.

You must file your income tax forms withthe Internal Revenue Service by April 17,2018. If you have an underpayment, considerusing your PSFCU credit card. If you don’t haveenough cash, our Credit Union’s low interestrate cards can be an excellent alternative towriting a check to pay tax arrears.1

This tax season you can also save moreby transferring debt from other credit cardsto PSFCU cards with a special 2.99% APR2

for twelve months without balance transfertransaction fees. The promotion is in effectuntil April 15, 2018. An Equifax creditrating of 680 or more is required and maydiffer from the ratings of other credit ratingagencies. Other restrictions may apply.

A PSFCU credit card gives you additionaloptions and flexibility this tax season!1. All loans are subject to credit approval and verification of ability to repay.

PSFCU membership is required. Other restrictions apply.

2. APR = Annual Percentage Rate. Credit Score of 680 or above is required.

Credit Score is based on data from Equifax, and may differ from other

credit bureau scores. Offer not applicable to business credit cards.


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At Our Credit Union Branches

*APY-Annual Percentage Yield as of 01/01/2018. Promotion is valid for term shares opened between January 1 and April 17, 2018. Funds required to open the term share account must bedeposited to a new or existing IRA account during the promotional period. Minimum balance of $500.00 is required to open a term share account, up to the maximum amount of contributiondetermined by the IRS for years 2017 and 2018. Early withdrawal penalties may apply. Additional information may be obtained at PSFCU branches or by calling our Member Services Center at1.855.PSFCU.4U (1.855.773.2848). Consult your tax advisor before making any decision related to an IRA account. Additional information about other term shares offered by PSFCU is availableat www.psfcu.com. Offer for PSFCU members only. Membership restrictions apply. Other restrictions apply.

2.25% APY* FOR 5 YEARS

TAKE ADVANTAGE OF THEPROMOTIONAL IRA TERM SHARE

ON 2017 AND 2018 CONTRIBUTIONS

Fulfill your New Year resolutionand take care of your financial future

Every week from Monday through Saturdayat the seventeen branches of the Polish &Slavic Federal Credit Union in three states(New York, New Jersey and Illinois), PSFCUemployees are waiting for you with aprofessional proposal regarding yourfinances. Can’t get to a branch? No problem,because every day (Monday-Friday 9:00a.m. to 8:00 p.m., Saturday 9:00 a.m. to 4:00p.m.) several employees are on duty at thetoll-free phones at the PSFCU MemberServices Center at 1.855.PSFCU.4U(1.855.773.2848).

Donuts at Our Credit Union

Anyone who came to a PSFCU branch onFat Thursday was not disappointed. As everyyear, traditional Polish donut were waiting

for all visitors. And as usual, appetites wereup to the task, because our Credit Unionmembers consumed a total of severalthousand of the donuts. In the photo:refreshments at the PSFCU branch in Mt.Prospect, Illinois.

Polonia Declaration 2018

Signatures under the Polonia Declaration2018 are collected at any branch of ourCredit Union. At the PSFCU Ridgewood, NYbranch, you can learn more about the eventsof 1918-19 leading to the regaining ofPoland’s independence. The newspapers,

memorabilia and books from that periodpresent a strong message about the role thatUS President Thomas Woodrow Wilsonplayed in Poland’s return to the world map.If you haven’t signed the declaration yet, youcan do so online at http://www.Polonia -Declaration2018.org.

Valentine’s Day with the PSFCU

Valentine’s Day was celebrated withchocolate hearts and red balloons at allPSFCU branches. That was the case onFebruary 14 at the Maspeth NY branch,which was worth visiting for two reasons.The first was a Valentine’s surprise whenopening a new account. The second was aspecial Valentine’s Day lottery. The mainprize, a big chocolate heart, was won by Ms.Karolina Grajzer.


our credit union - psfcu...3 our credit union | march 2018 | 1.855.psfcu.4u (1.855.773.2848) |...

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