Citadel Credit Union launches business banking division

UWCHLAN — Citadel Credit Union is launching a new business banking division this week designed to offer products and services that support the financial needs of businesses in the Greater Philadelphia region.

Citadel has been piloting the program for the past three months and officially launched its business banking division on Monday, August 1. A multi-channel marketing campaign – “Better Business Banking Has Arrived” – will help spread the word.

Earlier this year, Chester County-based Citadel brought in a team of business banking experts to build the new division and establish partnerships with clients in the region.

“We are ready to go and partner with companies of all sizes in the region. Our goal is to be the financial partner of choice for businesses looking to secure a prosperous and stable future,” Jeff March, president and CEO of Citadel Credit Union, said in a statement.

Citadel Credit Union launches business banking division. This photo shows Citadel’s business banking management team. Pictured in this photo from left to right are: Anil Punjwani; Phil Sutliff, Head of Business Banking; Brendan Robinson; Eric Murchison; and Kai Kreutzberger. (PHOTO COURTESY OF CITADEL CREDIT UNION)

The need

Citadel planned to launch a business banking division in 2020 before the pandemic hit, according to Phil Sutliff, head of business banking at Citadel.

“Then, with the pandemic, what happened to local businesses certainly shined a light on the need in the Greater Philadelphia region for businesses to have a banking partner that keeps them stable — and strong — no matter what,” Sutliff said in response to email questions. “So this just crystallized what we knew: This deployment needed to happen and Citadel was well positioned to be the solution for many businesses in our area.”

Citadel offers commercial lending, owner-occupied mortgages and business credit cards. Some members — who are business owners — also used Citadel for their business banking needs, according to Sutliff. He added that with the success of the commercial lending division, “Citadel Credit Union was well placed to fully expand our offering to existing and new business customers.”

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This photo shows one of Citadel Credit Union’s 24 branches. Chester County-based Citadel is launching a new business banking division. (PHOTO COURTESY OF CITADEL CREDIT UNION)

“But our deposit products were not structured or optimized for business banking and were consumer accounts only,” he said in an emailed response.

With the launch of the banking division, all current business customers will automatically be upgraded and moved to the business versions of their current accounts, he added.

What’s new?

Citadel Business Banking will offer a full range of products and services to businesses of all sizes throughout the region. With the help of an advisor, each business customer will be able to customize a product mix tailored to their current needs.

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.

Over the past four months, Citadel has launched a pilot program of the new program, which includes some of the credit union’s existing business customers as well as some new commercial lending customers who will transition to customized packages once the new division is fully launched, according to Sutliff .

Citadel has “unique expertise and a level of service that businesses just don’t get today,” according to Sutliff. That expertise, he said, is important as businesses “face inflation, supply chain disruption and labor market challenges.”

“Our mission, of course, is to build strength in our communities so they can prosper — so this initiative is very much aligned with Citadel’s mission,” he said in an emailed response.

The team

Citadel’s Business Banking division consists of five relationship managers, including Sutliff, who joined Citadel in October 2021. In addition, a large group of existing employees participated in a certification program — becoming Citadel’s “Financial Champions” .

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Pictured here are members of Citadel Credit Union’s new business banking team. From left to right are: Brendan Robinson, Senior Relationship Manager; Phil Sutliff, Head of Business Banking; and Kai Kreutzberger, Senior Relationship Manager. (PHOTO COURTESY OF CITADEL CREDIT UNION)

“Once I was hired, I built my team of relationship managers who are people I’ve worked with in the past, mostly at big banks. In addition, we leverage our commercial lending team and our trained champions — who will represent the entire business banking team. We will likely grow this team in the future,” he said in an emailed response.

In addition to Sutliff, the team includes senior relationship managers Kye Kroeutzberger, Eric Murchison, Anil Punjwani and Brendon Robinson. The Internal Development Program for Finance Champions has been part of Citadel’s pilot phase for the past few months.

For more information about the Business Banking division, visit CitadelBanking.com/Business.

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