Despite the economic crisis, the Polish Slavic Federal Credit Union (PSFCU) is expanding, and just opened its twelfth branch in Maspeth, Queens.

"The Polish Slavic Federal Credit Union represents the great success of the Polish community in the United States and it is a proof that Poles can and do achieve the goals we have set up provided that we work together," said PSFCU Executive Director Bogdan Chmielewski, during the new branch’s inaugural ceremony, located at 66-14 Grand Avenue.

The ceremony was attended by the representatives of PSFCU, members of the Polish community in Maspeth, as well as the Polish Consul General Krzysztof Kasprzyk and Consul Ewa Ger. Father Piotr Zendzian, from Holy Cross Parish, blessed the new community bank.

"During its 30-year-long history, PSFCU has not had a single foreclosure," said Queens Councilman Tony Avella, who is running for mayor in the upcoming elections, in praise of the bank. “This institution is expanding, which is admirable in these times and you can be proud of it," he said.

The Maspeth branch will employ 10 people and will be managed by Zbigniew Rogalski. Customers will be able to open up checking and saving accounts at the new bank, apply for business loans, as well as credit cards.

The new branch will be one of the largest PSFCU branches both in terms of space and services offered. Customers have six teller windows at their disposal and four financial advisors at the Customer Service Department.

The new branch will make life easier for Poles who live in the Maspeth area, who often pass by Maspeth's main artery – Grand Avenue.

"I am so glad they opened up a branch here,” said Alicja Obiedzinska, a Maspeth resident and PSFCU customer. ”Before, we had to go all the way to Greenpoint, Brooklyn or Ridgewood, New Jersey to be able to use the bank services. Now it is going to be here at hand".

PSFCU plans to open another branch in Trenton, NJ, in March 2009.