The bank was originally called the Industrial and Commercial Federal Credit Union, and was referred to as such in its first charter.

The first office of the credit union was established on 940 Manhattan Avenue in Greenpoint, Brooklyn, adjacent to the Polish & Slavic Center.

In 1987, the first New Jersey branch was opened in Union, followed by rapid expansion over the New York City metropolitan area.

[4] In January 2019, the Polish & Slavic Federal Credit Union opened its first branch in the state of Pennsylvania, in the town of Stroudsburg.

The Polish & Slavic Federal Credit Union is the largest sponsor of the annual Pulaski Day Parade in New York City.