Citadel Credit Union launches business banking division

Citadel Credit Union has officially launched its new business banking division – with a full product line, a new team and the launch of a multi-channel marketing campaign – “Better Business Banking Has Arrived”.

In January 2022, Citadel, which recently reached $5 billion in assets, onboarded a team of business banking experts to create the new division and build partnerships with clients in the region. Additionally, a large group of existing employees have participated in a strong certification program. This internal development program was part of the pilot phase for the past four months. The pilot phase also included partnering with new business customers for large business loans and custom packages with the new products.

“We couldn’t be more excited to bring this suite of products to market and provide the best solutions and support for businesses of all sizes,” said Phil Sutliff, Head of Corporate Banking at Citadel. “Our talented employees, who have served Citadel members for years, have now benefited from a rigorous training and development program with our newly hired seasoned relationship managers. So, Citadel’s personalized service and level of detail, combined with the highly specific training of our new industry experts, sets us all up for success. »

Prior to this launch, Citadel offered a variety of business loans and credit cards, in addition to commercial loan products, supporting area businesses with financial advice. The success of its business lending arm and corporate finance partnership has paved the way for the organization to fully expand its offering to corporate clients.

During the pandemic, many businesses in Greater Philadelphia experienced significant challenges and “aftershocks” — including capital, labor and supply chain issues — that still linger, data shows. from Pew Research.

To help provide a solution to these challenges, Citadel Business Banking offers a full suite of dynamic products and services for businesses of all sizes in the Philadelphia area. The main difference in Citadel’s approach to business banking will be the level of personalized service a business will receive. With the help of a dedicated advisor who champions their business, each new client can customize a premium product line to suit their needs, plus be scalable for future growth.

“As a member-owned, nonprofit credit union, Citadel is uniquely positioned to support businesses with the guidance they need,” said Jeff March, Citadel President and CEO. “It’s our commitment to building community prosperity – and partnering with businesses to strengthen their future will ultimately help our region thrive.

Since the company rebrand in 2020, Citadel has been focused on its mission of “Building Strength Together” and the launch of corporate banking services is one of the most important milestones in Citadel’s overall strategic plan. With decades of deep expertise in the Greater Philadelphia area and a strong commitment to the community, Citadel’s service relationship approach builds and maintains meaningful, ongoing relationships that businesses can rely on throughout the life of their service. their business.

“Many business owners have spoken of their frustration and lack of personal attention from their financial institution during a time of unprecedented turmoil. With our commercial loans in place and our focus on expansion, the optimal time to launch more favorable business banking services has presented itself,” Sutliff said. “We know the challenges are not over, but we are here to ensure prosperity.

Comprehensive new options include a variety of flexible checking and savings accounts, certificates, business loans, commercial mortgages, online banking tools and cash management solutions such as merchant services, deposit remotely, HR and payroll services. The team will also offer banking specialization for private medical, veterinary and dental practices.

“We’ve been able to structure the products we know businesses need and want and build our teams and processes to meet demand with quality service,” said Mike Schnably, senior vice president and Head of Member Experience at Citadel. “Taking the time and the right steps to create a competitive offering has made all the difference – and we know the market will be impressed.”

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