EXTON, Penn.–Citadel Credit Union has launched its Home Help Program, a new initiative it said is aimed at increasing access to home ownership in eligible communities across Philadelphia County.
The Home Help Program is supported by a $6 million loan subsidy fund designed to increase access to home mortgage, refinance, and improvement loans in majority-Black and Hispanic neighborhoods, according to Citadel.
The program provides up to $18,000 in down payment and closing cost assistance for eligible homebuyers. Citadel reported that during its soft launch this summer, the program awarded $134,000 in grants, supporting $1.6 million in home financing as part of $6 million investment in community lending.
‘Significant Step’
“The launch marks a significant step in Citadel’s growing commitment to the Philadelphia region, where the credit union will open a new branch in early 2026,” Citadel FCU said in a statement. “As a not-for-profit, member-owned financial institution, Citadel is dedicated to helping local families achieve long-term financial stability, enabling them to fully enjoy the benefits of homeownership, from building equity to managing monthly costs with confidence.”
As the CU Daily reported here, the opening of the branch in the underserved market also fulfills a settlement it reached with the Justice Department related to a discrimination complaint.
“Home Help is dedicated to serving the Philadelphia community by helping more residents achieve the dream of homeownership,” VP-Real Estate Lisa Albany said in a statement. “Through targeted grants and assistance programs, we’re making homeownership more accessible and affordable, helping individuals build stronger futures and contributing to the long-term strength of our neighborhoods.”
Program Features
According to Citadel, features of the program include:
- Up to $18,000 in assistance for purchase, refinance, or improvement of a primary residence in qualified communities
- Available for owner-occupied homes (single-family, condominium, or planned unit development)
- Homes must be located in eligible majority-minority neighborhoods in Philadelphia County
- Open to all qualified borrowers – not limited to first-time buyers
- Eligible for purchase money or rate-term refinance of Citadel mortgages
- May be combined with other grants, seller assistance, or subordinate financing
Program Oversight
To support these efforts, Citadel said it has appointed Evan Richman as its community lending officer. Richman has more than 15 years of experience in mortgage lending, grant navigation, and community engagement, and will serve as a key connector between Citadel and Philadelphia communities, CFCU said.
“Having spent my career helping families navigate the path to homeownership, I know how life-changing it can be,” said Richman in a statement. “At Citadel, I’m focused on building relationships in majority-minority communities, connecting residents with resources, and leading outreach initiatives that turn financial education into action.”
Local Collaboration
Citadel reported that Richman will collaborate with local elected officials, real estate professionals, the Affordable Housing Centers of Pennsylvania, the National Association of Hispanic Real Estate Professionals, and other nonprofit organizations to promote sustainable homeownership throughout Citadel’s service area, with a strong emphasis on Philadelphia.
“The Home Help program is part of Citadel’s ongoing mission to support long-term financial wellness for its members and make homeownership more accessible across diverse neighborhoods,” the credit union said.
It noted it partners with a growing network of local organizations to deliver financial education, promote affordable housing, and expand community outreach, including Women’s Opportunities Resource Center, the Urban Affairs Coalition, the Urban League of Philadelphia, the Philadelphia Housing Development Corporation, and Rebuilding Together Philadelphia.
Marketing Campaign Planned
A comprehensive outreach campaign, encompassing digital channels, direct mail, in-branch signage, and nonprofit collaborations, will continue to expand awareness and impact throughout the region in 2025 and beyond.