Connect with us

Economics

Citadel Credit Union’s Business Banking Team Ready for August Launch

Citadel Credit Union’s Business Banking Team Ready for August Launch
PR Newswire
EXTON, Pa., June 23, 2022

Led by Phil Sutliff, Head of Business Banking, in August Citadel will roll out a full suite of checking, savings, and cash management solutio…

Published

on

Citadel Credit Union's Business Banking Team Ready for August Launch

PR Newswire

Led by Phil Sutliff, Head of Business Banking, in August Citadel will roll out a full suite of checking, savings, and cash management solutions for businesses across the Greater Philadelphia area.

EXTON, Pa., June 23, 2022 /PRNewswire/ -- Citadel Credit Union is prepared to officially launch its new Business Banking division this August. Earlier this year, the company onboarded a team of business banking experts to build the new division and establish partnerships with clients around the region. Over the past three months, Citadel piloted its business banking offering with multiple organizations ranging from $1 million to $100 million in annual revenue.

"Citadel is proud to introduce our new business banking division to the market. We are ready to hit the ground running and partner with businesses of any size in the region," said Jeff March, President and CEO, Citadel Credit Union. "Our goal is to be the financial partner of choice for businesses looking to ensure prosperity and a stable future."

What Citadel Will Offer?

Citadel Business Banking will offer a full suite of dynamic products and services for businesses of all sizes in the Philadelphia area. With the assistance of a trusted advisor, each business client can customize a premium product mix tailored to their current needs in addition to being scalable for future growth.

Comprehensive 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.

The Need for Business Banking

Currently, Citadel offers 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.

"The pandemic shed light on a need for businesses in this region to have a banking partner that supports their stability – and strength – no matter what," said Phil Sutliff, Head of Citadel's Business Banking. "Citadel is ready to be a trusted partner and advisor for businesses in this new economy as they face inflation, supply chain disruption, and labor market challenges. Our approach is to create a package that includes a full range of cash management and commercial lending that can be customized to fit each unique business need."

About The Team

Citadel's dedicated relationship managers take the role as "financial champions" for their clients, providing a unique level of service and partnership to ensure recovery, strength, and prosperity. With decades of deep expertise in the Greater Philadelphia region and a firm commitment to the community, Citadel's relationship-based approach establishes and maintains meaningful, ongoing connections that companies can depend upon throughout the life of their business.

Phil Sutliff, Head of Business Banking
Phil has a decade of experience working directly with businesses, managing business teams, and is well versed in small business regulations, tax laws, and investments. From small start-ups, to manufacturers and medical professionals, up to large $100MM+ corporations, his track record is unparalleled. Phil guides his teams to success through strong leadership and a wealth of banking expertise. By focusing on enhancing cash flow, maximizing working capital and investment power, Phil and his team can help your business achieve strategic growth.

Kye Kreutzberger, Senior Relationship Manager
With over 25 years of experience, Kye brings a deep knowledge of the local area and its businesses and is committed to serving them. He believes strongly in community revitalization, especially those efforts that support diversity, inclusion, and equity, and an advocate for programs supporting abused women and children.

Eric Murchison, Senior Relationship Manager
Born and raised in north Philadelphia, Eric has deep ties to the local area and nearly a decade of banking experience. Connection is key for Eric, whether it's with clients, Citadel team members, or the community at large.

Anil Punjwani, Senior Relationship Manager
Most recently, Anil served as a Small Business Relationship Manager and Virtual Advisor, managing a portfolio of over 125 clients. Offering unique specialization for medical business owners, Anil understands both long-term planning and business sustainment, as well as day-to-day operations. He joined Citadel with a desire to work for a financial institution heavily involved in the community. 

Brendon Robinson, Senior Relationship Manager
Brendon has a long career in the banking industry, takes pride in working with commercial real estate and property managers, real estate investors, and business owners. In addition, with the Brendon Robinson Foundation, a nonprofit for at-risk youth, he uses this platform to address racial inequalities, build relationships, and be a part of the movement that changes these disparities.

While the team has already partnered with several business clients, Citadel is on target to fully launch business banking on August 1. For more information, visit CitadelBanking.com/Business.

About Citadel Credit Union

Citadel Credit Union is a not-for-profit, member-owned financial institution that provides banking, investments, and insurance services to more than 240,000 members. At $5 billion in assets, it is one of the Greater Philadelphia area's largest credit unions, proudly serving residents of Bucks, Chester, Delaware, Lancaster, Montgomery, and Philadelphia counties. Citadel is recognized as a Forbes 2022 Best-in-State Credit Union and a certified 2022 Great Place to Work. In addition, Citadel has been named one of the best performing credit unions in the nation by SNL Financial. For more information, visit CitadelBanking.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/citadel-credit-unions-business-banking-team-ready-for-august-launch-301574439.html

SOURCE Citadel Credit Union

Read More

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Government

China Shortens Travel Quarantine In COVID Zero Shift

China Shortens Travel Quarantine In COVID Zero Shift

China unexpectedly slashed quarantine times for international travelers, to just one…

Published

on

China Shortens Travel Quarantine In COVID Zero Shift

China unexpectedly slashed quarantine times for international travelers, to just one week, which suggests Beijing is easing COVID zero policies. The nationwide relaxation of pandemic restrictions led investors to buy Chinese stocks.

Inbound travelers will only quarantine for ten days, down from three weeks, which shows local authorities are easing draconian curbs on travel and economic activity as they worry about slumping economic growth sparked by restrictive COVID zero policies earlier this year that locked down Beijing and Shanghai for months (Shanghai finally lifted its lockdown measures on May 31). 

"This relaxation sends the signal that the economy comes first ... It is a sign of importance of the economy at this point," Li Changmin, Managing Director at Snowball Wealth in Guangzhou, told Bloomberg

At the peak of the COVID outbreak, many residents in China's largest city, Shanghai, were quarantined in their homes for two months, while international travelers were under "hard quarantines" for three weeks. The strict curbs appear to have suppressed the outbreak, but the tradeoff came at the cost of faltering economic growth. 

The announcement of the shorter quarantine period suggests a potentially more optimistic outlook for the Chinese economy. Bullish price action lifted CSI 300 Index by 1%, led by tourism-related stocks (LVMH shares rose as much as 2.5%, Richemont +3.1%, Kering +3%, Moncler +3%). 

"The reduction of travel restrictions will be positive for the luxury sector, and may boost consumer sentiment and confidence following months of lockdowns in China's biggest cities," Barclays analysts Carole Madjo wrote in a note. 

CSI 300 is up 19% from April's low, nearing bull market territory. 

Jane Foley, a strategist at Rabobank in London, commented that "this news suggests that perhaps the authorities will not be as stringent with Covid controls as has been expected." 

"The news also coincides with reports that the PBOC is pledging to keep monetary policy supportive," Foley pointed out, referring to Governor Yi Gang's latest comment. 

She said, "this suggests a potentially more optimistic outlook for the Chinese economy, which is good news generally for commodity exporters such as Australia and all of China's trading partners." 

Even though the move is the right step in the right direction, Joerg Wuttke, head of the European Chamber of Commerce in China, said, "the country cannot open its borders completely due to relatively low vaccination rates ... This, in conjunction with a slow introduction of mRNA vaccines, means that China may have to maintain a restricted immigration policy beyond the summer of 2023." 

Alvin Tan, head of Asia currency strategy in Singapore for RBC Markets, also said shortening quarantine time for inbound visitors shouldn't be a gamechanger, and "there's nothing to say that it won't be raised tomorrow." 

Tyler Durden Tue, 06/28/2022 - 07:38

Read More

Continue Reading

Economics

Energy Stocks Are Down, But Remain Top Sector Performer

High-flying energy shares have hit turbulence in recent weeks but remain, by far, the leading performer for US equity sectors so far in 2022, as of yesterday’s…

Published

on

High-flying energy shares have hit turbulence in recent weeks but remain, by far, the leading performer for US equity sectors so far in 2022, as of yesterday’s close (June 27), based on a set of ETFs. But with global growth slowing, and recession risk rising, analysts are debating if it’s time to cut and run.

The broad-based correction in stocks has weighed on energy shares lately. Energy Sector SPDR (XLE) has fallen sharply after reaching a record high on June 8. Despite the slide, XLE remains the best-performing sector by a wide margin year to date via a near-36% gain in 2022.

By contrast, the overall US stock market is still in the red via SPDR S&P 500 (SPY), which is down nearly 18% year to date. The worst-performing US sector: Consumer Discretionary Sector SPDR (XLY), which is in the hole by almost 29% this year.

The case for, and against, seeing energy’s recent weakness as a buying opportunity can be filtered through two competing narratives. The bullish view is that the Ukraine war continues to disrupt energy exports from Russia, a major source of oil and gas. As a result, pinched supply will continue to exert upward pressure on prices in a world that struggles to quickly find replacements for lost energy sources. The question is whether growing headwinds from inflation, rising interest rates and other factors will take a toll on global economic growth to the point the energy demand tumbles, driving prices down.

The market seems to be entertaining both possibilities at the moment and is still processing the odds that one or the other scenario prevails, or not. Meanwhile, energy bulls predict that the pullback in oil and gas prices is only a temporary run of weakness in an ongoing bull market for energy.

Goldman Sachs, in particular, remains bullish on energy and advises that the potential for more prices gains in crude oil and other products “is tremendously high right now,” according to Jeffrey Currie, the bank’s global head of commodities research. “The bottom line is the situation across the energy space is incredibly bullish right now. The pullback in prices we would view as a buying opportunity,” he says. “At the core of our bullish view of energy is the underinvestment thesis. And that applies more today than it did two weeks, three weeks ago, because we’ve just seen exodus of money from the space… investment continues to run from the space at a time it should be coming to the space.”

Meanwhile, a bit of historical perspective on momentum for all the sector ETFs listed above reminds that the trend direction remains bearish overall. But contrarians take note: the downside bias is close to the lowest levels since the pandemic first took a hefty bite out of market action back in March 2020 (see chart below). This may or may not be a long-term buying opportunity, but the odds for a bounce, however, temporary, look relatively strong at the moment.


Learn To Use R For Portfolio Analysis
Quantitative Investment Portfolio Analytics In R:
An Introduction To R For Modeling Portfolio Risk and Return

By James Picerno


Read More

Continue Reading

Economics

Five things you can do to help you have a more positive birth experience

Becoming a parent can be nerve-wracking – but there are many things you can do to feel more in control.

Published

on

Don't be afraid to make your preferences clear to your care provider. Syda Productions/ Shutterstock

Whether you’re a first time parent or have had children before, you’re probably willing to try anything to ensure you have the most positive birth experience you can. After all, the kind of birth experience you have can not only affect your own mental health, but can have an affect on parent-child bonding, as well as partner-to-partner relationships for years after giving birth.

It can be confusing to know what to expect or where to turn to for advice, especially as maternity services have changed due to falling staff numbers and the continued impact of COVID-19. But here are a few things you can do yourself as you navigate your maternity care, which may help you have a more positive birth experience:

1. Get educated

Studies have shown that signing up for antenatal classes can help reduce fear, depression and anxiety – both during pregnancy and after birth.

Typically, antenatal classes will help you understand what’s happening to your body during pregnancy and explain the birth process. They may also teach you coping strategies to help relax during labour, alongside guidance on caring for your new baby. Antenatal classes can also be a great way of meeting other parents going through the same thing as you.

Another option is creating a personalised care and support plan, which is offered by most NHS trusts in the UK. This is a tool you can use with your care providers to explore what’s important to you – and discuss what your range of options are, such as your preferred place of birth, or whether you prefer skin-to-skin contact with your baby immediately after birth.

Understanding what your body’s going through, and making a personalised plan for your birth, may help you feel more prepared and less anxious about what to expect.

2. Know your carers

Being cared for by one nominated midwife, or being assigned to a team of familiar midwives, is shown to be associated with better outcomes for you and your baby – including decreased chance of having a premature labour and lower likelihood of needing interventions (such as birth with the help of forceps). You’re also more likely to be satisfied with your overall experience.

When an allocated midwife is not an option this makes choosing the right birth partners crucial. They can not only offer you reassurance, encouragement and support but can be your advocate, help you try different positions in labour and help provide you with snacks and drinks. Most typically these would be trusted loved ones. But be aware that research shows birth partners may also feel anxious or overwhelmed at taking on this role, and may struggle with seeing a loved one in pain – so it’s important to be realistic about your expectations, and choose the right person. It may be the best birth partner for you is a close friend or relative.

3. Challenge care recommendations if you aren’t happy

There are likely to be many other options available to you – such as where you might give birth, or how you want to be cared for during labour.

During antenatal appointments be sure to pause, think and ask about benefits, risks and alternatives to the care being proposed. Research shows how important choice and personalised care are for expectant parents who want their voices and preferences to be acknowledged, and to receive consistent advice.

Expectant couple speak with female doctor in doctor's office.
Bringing a loved one or partner with you can make it easier to voice any concerns you may have. wavebreakmedia/ Shutterstock

If you have concerns over a suggestion your care providers have made or have questions, don’t be afraid to ask. Take your birth partner with you if you prefer, who can empower you to ensure your voice is heard. After all, care providers are duty bound to ensure you make fully informed choices.

4. Don’t always listen to your friends and family

Once people hear you have a baby on the way it seems everyone feels the need, without asking, to tell you the full (and often graphic) details of their own children’s birth.

But it’s perfectly acceptable to politely change the subject if you don’t want to listen, or if hearing these stories makes you nervous or worry. It’s also worth remembering that each person has a different labour and birth, even with their own children – so what was true for someone else is likely not to be the same for you. While it can be helpful for some people to debrief after the birth, it’s okay to avoid hearing this yourself if it makes your nervous, and maybe suggest they speak with a professional about their experience instead of telling you.

5. Visit your preferred place of birth

Many maternity units are now opening up their doors again to tours and informal visits – and those that aren’t are doing this virtually.

Becoming familiar with where you might give birth – even down to where you might park on the day – can help you feel more confident about giving birth. It may also remove some of the unknown, helping you regain a sense of control – which in itself is linked to a more positive birth experience.

For those planning a homebirth, speak to your midwife about how you can improve your space to facilitate the most safe and positive experience. For one of the most important days of your life, visualising where this will take place ahead of time can help you feel more confident and in control.

Ultimately, it’s important to remember that no one can predict exactly how your labour and birth journey will go. Even after heeding the above steps – there’s always a chance you may need to consider a plan B, C or even D. But no matter what, remember you’ve done your very best, and you’re not likely to repeat this exact experience the next time.

Claire Parker does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

Read More

Continue Reading

Trending