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From the April-08, 2009 issue of Credit Union Times Magazine • Subscribe!
Citadel Gets Expanded Community Charter
Citadel FCU will be able to serve an area of five million people in the Philadelphia area as a result of NCUA's decision to grant it a community charter.
The agency granted the expansion at a closed meeting following its March 19 public meeting. It had planned to discuss the charter expansion during the public session but did it in closed session because several of the agency's past charter decisions have been the subject of litigation, NCUA Chairman Michael E. Fyzel told Credit Union Times before the closed session.
Citadel FCU, which served Chester County, Pa., can now serve Bucks, Delaware, Montgomery and Philadelphia counties.
The credit union was founded in 1937 as the Lukens Steel Co. Employees Credit Union and became a community credit union in 1983.
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