Diamond Credit Union expands in 4 counties

Expansion through all of Berks, Chester, Montgomery and Bucks counties opens the door for additional growth

LOWER POTTSGROVE » Diamond Credit Union has expanded its charter to include four full counties, creating the potential to grow its customer base.

The Pottstown-based credit union’s service area now includes all of Berks, Chester, Montgomery, Berks and Bucks counties. Those who “live, work, worship, regularly conduct business or attend school in one of these four counties” are eligible for membership, the company said.

Diamond’s previous charter area included all of Berks County, portions of Chester and Montgomery counties, and none of Bucks County.

“It’s an amazing feeling to look back at where Diamond started and see where we are today,” John Faust, president and CEO said in a statement. “This expansion is possible because of our team’s dedication to service and the tens of thousands members who have put their faith in them.”

The process to expand the charter began in July, when

Diamond held a special meeting of its membership to vote on a proposal to file Articles of Amendment with the Pennsylvania Department of Banking. The proposal was unanimously approved by those members in attendance. The Department of Banking recently approved the expansion.

According to Rob Hackash, director of branding for Diamond

Credit Union, the expansion immediately clears up some confusion in being able to serve just portions of Montgomery and Chester counties. Previously, the credit union needed to check where people lived by zip code to confirm they were within Diamond’s charter, and then by where the potential customer worked or attended school.

Hackash said there are no immediate plans for new branches in the expanded geography, but added that the company will begin to look at the new areas for possible locations.

“We might not have a brick and mortar location in those new areas right away, but we can still serve you digitally,” through online banking and the mobile app, Hackash said. “We couldn’t even serve people that way before, unless they were within our charter. Even though the technology existed, the rules didn’t allow it. Now the rules have been modified and expanded.”

Diamond currently has two branch locations in Montgomery County and five locations in Berks County.

News about the expanded charter is on Diamond’s website, and Hackash said details about the expanded charter will also be included in the credit union’s monthly newsletter.

“It’s an amazing feeling to look back at where Diamond started and see where we are today. This expansion is possible because of our team’s dedication to service and the tens of thousands of members who have put their faith in them.” John Faust, Diamond president and CEO

DONNA ROVINS — MEDIANEWS GROUP Diamond Credit Union has had its application for an expansion to its charter approved by the Pennsylvania Department of Banking. This photo shows the company’s Lower Pottsgrove headquarters.