Citadel Credit Union officially launched its new Business Banking division – complete with a full suite of products, a new team, and the kickoff of a multichannel marketing campaign – "Better Business Banking Has Arrived."

In January, Citadel, which recently reached $5 billion in assets, onboarded a team of business banking experts to build the new division and establish partnerships with clients around the region. In addition, a large group of existing employees participated in a robust certification program – becoming the region's "Financial Champions." This internal development program was part of the pilot phase over the past four months. The pilot phase also included partnering with new business clients for large commercial loans and customized packages with the new products.

"We couldn't be more excited to bring this suite of products to market and have optimal solutions and support for businesses of any size," said Phil Sutliff, Head of Business Banking, who has built the new team. "Our talented employees, who have been serving Citadel members for years, have now benefited from a rigorous training and development program with our newly hired, seasoned Relationship Managers. So, the Citadel personal service and level of detail – coupled with the highly specific training from 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 lending products, supporting businesses across the area with financial guidance. The success of its business lending arm and financial partnership to businesses has paved the way for the organization to fully expand its offering for business clients.

Better Business Banking

During the pandemic, many businesses throughout Greater Philadelphia experienced significant challenges and the "aftershocks" – including capital, labor, and supply chain issues – which still remain, according to recent data from Pew Research.

To help provide a solution to those challenges, Citadel Business Banking offers a full suite of dynamic products and services for businesses of all sizes in the Philadelphia region. The primary difference in Citadel's approach to business banking will be the level of personal service a business will receive. With the assistance of a dedicated advisor championing their business, each new client can customize a premium product mix tailored to their needs, in addition to being scalable for future growth.

"As a not-for-profit, member-owned credit union, Citadel is uniquely positioned to support businesses with the guidance they need," said Jeff March, President and CEO, Citadel. "It's our commitment to build community prosperity – and partnering with businesses to strengthen their future will ultimately help our region thrive."

Since the company rebranded in 2020, Citadel has focused on its mission of Building Strength Together and the launch of Business Banking is one of the bigger milestones in Citadel's overall strategic plan. With decades of deep expertise in the Greater Philadelphia region and a firm commitment to the community, Citadel's relationship-based approach for service establishes and maintains meaningful, ongoing connections that companies can depend upon throughout the life of their business.

"Many business owners reported frustration and lack of personal attention by their financial institution during a time of unprecedented turbulence. With our commercial lending in place and the goal to expand, the optimal timing to launch more supportive business banking presented itself." Said Phil, "We know the challenges aren't over, but we're here to ensure prosperity."

What is New?

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, remote deposit, HR, and payroll services. The team will also offer banking specialization for private medical, veterinary, and dental practices.

"We've been able to structure products that 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, 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."