Citadel Credit Union Expands Reach

The charter conversion establishes Citadel as a Federal Multiple Common Bond credit union. This strategic shift allows the institution to expand its membership base beyond a specific geographic area to include a variety of communities and employer groups. This type of charter is often sought by credit unions aiming for greater growth and flexibility. Previously, Citadel's membership was primarily focused on the Greater Philadelphia area, serving individuals in Bucks, Chester, Delaware, Lancaster, Montgomery, and Philadelphia counties. The new charter dramatically expands this, now offering membership to anyone who lives, works, worships, or studies in Pennsylvania, Delaware, Ohio, New York, New Jersey, Maryland, and West Virginia. This expansion comes as Citadel surpasses $6.6 billion in assets with a membership of over 285,000, making it one of the largest credit unions in the Greater Philadelphia region. The move is part of a broader growth strategy under CEO Bill Brown, who took the helm in late 2023. This strategy also includes the recent launch of a new checking account program designed to offer more rewards to members. Alongside this expansion, Citadel has been increasing its physical presence and community investment. The credit union recently announced its first branch in Philadelphia, scheduled to open in Overbrook Park in early 2026, which will include community meeting space. This is part of a larger commitment which includes opening three new branches in Philadelphia. This expansion follows a 2024 settlement with the Department of Justice regarding allegations of redlining. While disagreeing with the allegations, Citadel committed to investing $6 million in a loan subsidy fund for majority Black and Hispanic neighborhoods in Philadelphia and opening new branches to better serve those communities.