Merger To Create CU Giant

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THORNDALE, Pa. - (11/01/04)-- Citadel FCU said it has agreed tocombine with Atlantic CU, based in nearby Newtown, to create acredit union giant serving 100,000 members with almost $1 billionin assets. The new organization will retain the Citadel name andemploy more than 300 people. Citadel will be the second largestcredit union in the region, the third largest in Pennsylvania. Themerger is expected to close in early 2005. Citadel President JeffMarch will remain CEO of the merged institution, while BobEdmondson, president of Atlantic CU, will serve as president andchief operating officer after the merger.

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