EXTON, PA — Citadel Credit Union announced it has converted from a community charter to a Federal Multiple Common Bond charter, a move that expands membership eligibility and allows the institution to serve a broader geographic area.
The credit union said the new charter enables individuals to qualify for membership based on residence in certain underserved areas or through select employer groups and association partnerships.
The change also allows Citadel to serve members across Pennsylvania and neighboring states including Delaware, New Jersey, New York, Maryland, Ohio, and West Virginia.
Bill Brown, president and chief executive officer of Citadel Credit Union, said the conversion is intended to remove barriers to membership and support long-term growth.
“Our transition reflects careful planning and a clear sense of purpose,” Brown said. “It removes barriers to membership, increases access, and allows us to evolve while staying true to who we are and why we exist.”
Claudia Hellebush, chair of the credit union’s board, said the board viewed the charter change as part of a strategy to strengthen the organization’s long-term position.
“By aligning our charter with our scale, governance, and operational capacity, we are ensuring Citadel remains financially resilient and competitively positioned,” Hellebush said.
Citadel said the charter conversion follows several years of organizational changes, including investments in leadership, technology, and risk management systems.
The credit union also expanded its business banking operations, including hiring additional relationship managers, increasing Small Business Administration lending capabilities, and adding new digital tools for commercial clients.
Anand Solanki, chief financial officer and head of product management, analytics, strategy, and facilities management, said the organization has strengthened capital planning and regulatory alignment in preparation for expansion.
“With strengthened capital planning, regulatory alignment, and modernized technology, we are positioned to execute on our growth strategy with consistency and control,” Solanki said.
Citadel said the charter conversion coincides with its expanding presence in Philadelphia, where the credit union recently opened a branch in the Overbrook Park neighborhood.
The company said additional Philadelphia locations are planned as part of an effort to increase access to financial services in areas where many of its members live and work.
Citadel Credit Union, headquartered in Exton, serves more than 285,000 members and has approximately $6.6 billion in assets and 25 branches across southeastern Pennsylvania.
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