Dear PSFCU Members,
I am writing to you as the United States and the whole world struggle with the deadly COVID-19 pandemic for another week. I wanted to share some information about the activities undertaken by the Polish & Slavic Federal Credit Union in this difficult and unprecedented period that has had an unprecedented impact on the lives of us all.
- First of all, I want to emphasize that the Polish & Slavic Federal Credit Union continues to offer all its services without any interruption. Our Credit Union branches operate with only slightly changed business hours. All PSFCU departments continue to work, providing ongoing loan processing and all other services. You can submit a mortgage loan application as well as apply for a credit and debit card, our Member Services Center operates on an ongoing basis, and PSFCU Online and Mobile Banking provide Credit Union members with access to money management 24 hours a day. PSFCU proves that it is an efficient and modern financial institution able to function effectively in all conditions. At this point, I would like to thank my colleagues at PSFCU, and above all ladies and gentlemen working at our Credit Union branches, who perform their duties daily by serving you in our facilities.
- One of the first decisions taken at the beginning of the COVID-19 crisis was the waiver of a majority of fees and penalties associated with maintaining an account at our Credit Union. We are aware that, in the current situation, even small amounts can mean a lot.
- In connection with the COVID-19 pandemic, our Credit Union is providing assistance to PSFCU members who are in a difficult situation and experience problems paying back their loans. Among proposed solutions, we recommend e.g. loan modification or loan payment deferral. Each PSFCU member’s situation is reviewed individually so as to find the most favorable solution for both parties. PSFCU members who find themselves in financial difficulty due to the COVID-19 pandemic should send queries to collections@psfcu.net.
- PSFCU provided assistance to PSFCU Members with filing credit applications for small businesses under the Paycheck Protection Program (PPP) offered by the Small Business Administration (SBA). Detailed information about this program can be found at www.sba.gov. If you have any questions in this matter, please contact us via e-mail at sbappp@psfcu.net. Our representatives will contact you and assist you with submitting the application as soon as possible.
- We are still accepting applications for assistance under the PSFCU Coronavirus Relief Fund. Money from the fund will be entirely dedicated to helping PSFCU members and representatives of the Polish-American community particularly affected by the effects of the COVID-19 pandemic. The PSFCU Board of Directors decided to allocate $ 250,000 to this purpose, with the stipulation that this amount may be increased as required. Thus far, the following parishes and organizations have received support from the Fund to help the elderly, the ill in need of care and those most affected by the COVID-19 pandemic:
- North Brooklyn Development Corporation (Brooklyn, New York)
- St. Blasé Parish (Summit, Illinois)
- St. Casimir Parish (Newark, New Jersey)
- The Holy Trinity Polish Pastoral Mission (Chicago, Illinois)
- St. Ferdinand Parish (Chicago, Illinois)
- St. Stanislaus Kostka Parish (Brooklyn, New York) in cooperation with a group of volunteers of Greenpoint Homeless SOS
- St. Stanislaus Bishop & Martyr Parish (Manhattan, New York) in cooperation with Good Samaritan Community (Brooklyn, New York)
- Gift from the Heart Foundation (Schiller Park, Illinois).
- Polish Assistance (New York, New York)
- Polish Filmmakers NYC (New York, New York)
- We very much hope that also other Polish-American organizations will join the campaign to help those in need. Applications can be sent by email: relieffund@psfcu.net.
- PSFCU sent special food parcels with products imported from Poland to doctors and nurses (who are also members of our Credit Union) who are on the front line of the fight against the pandemic, looking after those infected COVID-19. These PSFCU members are real heroes today.
Finally, I would like to thank you for the loyalty and trust you have always placed in the Polish & Slavic Federal Credit Union. In this difficult period for all of us, I would like to assure you that both the Board of Directors and Credit Union employees make every effort to meet your expectations and to best serve our members and the Polish community in the United States, especially in the difficult situation of a pandemic.
On behalf of the Board of Directors, the Supervisory Committee and employees, I would like to sincerely wish you a healthy and peaceful Holiday of Our Lord's Resurrection, which, despite its very different form, should be a source of hope and optimism for the future for everyone.
Sincerely,
Bogdan Chmielewski
PSFCU President/CEO