EXTON, PA — In case you missed it, Citadel Credit Union announced last week that it has converted from a community charter to a Federal Multiple Common Bond charter, expanding eligibility for membership and allowing the institution to serve a broader regional population.
The change allows the not-for-profit credit union to expand membership through underserved areas, employer groups, and association partnerships, according to the organization.
Citadel said the new charter also provides greater flexibility to serve members across Pennsylvania and neighboring states, including Delaware, New Jersey, New York, Maryland, Ohio, and West Virginia.
President and Chief Executive Officer Bill Brown said the transition is intended to expand access to membership while maintaining the credit union’s existing mission.
“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, chairwoman of the credit union’s board, said the board evaluated the charter conversion as part of a long-term strategy.
“By aligning our charter with our scale, governance, and operational capacity, we are ensuring Citadel remains financially resilient and competitively positioned,” Hellebush said.
Citadel officials said the conversion follows investments in leadership, technology, and governance intended to support growth.
Chief Financial Officer Anand Solanki said the institution has strengthened capital planning and technology systems in preparation for the expansion.
“This transition reflects years of disciplined preparation,” Solanki said.
Citadel said its expanding business banking division has also supported growth by increasing lending services and financial support for small businesses.
The credit union also cited community initiatives through its Citadel Cares program, which supports financial literacy, education, and economic development programs.
The organization recently opened a branch in Philadelphia’s Overbrook Park neighborhood and said additional locations in the city are planned.
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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