Inspire Federal Credit Union announced on Monday its expansion into Philadelphia.
The 15,000-member strong Inspire Federal Credit Union said the expansion will significantly broadening its membership eligibility and banking services to include more than two million residents.
The move marks a significant step for the Newtown-based credit union known for its community-oriented and relationship-focused operation that already has established branches in Bristol, Langhorne, Newtown, and Warminster.
“With our expansion into Philadelphia County, we aim to foster financial empowerment, strengthen local economies, and build lasting relationships,” said Jim Merrill, CEO of Inspire Federal Credit Union. “From helping individuals achieve their financial goals to supporting entrepreneurs in realizing their dreams, we’re turning aspirations into accomplishments.”
Inspire Federal Credit Union has assets amounting to $334.5 million. It has experienced nine years of consecutive double-digit growth in deposits and loans. The credit union’s success in Bucks County is supported by strong partnerships with community associations and business groups.
The expansion is focused on individuals who live, work, or attend school in Philadelphia.
Inspire Federal Credit Union is also in the initial stages of developing relationships with economic development, nonprofit, and advocacy groups in the Greater Philadelphia region. A focus of the outreach efforts is the Hispanic community, underscoring the credit union’s commitment to community engagement.
The economic interdependence of Philadelphia and Bucks counties underscores the potential impact of Federal Credit Union’s expansion. Many residents of one county work or shop in the other.
“Convenience, speed and security – backed by a dedicated team that listens, advises, and supports members in their financial journey – is what sets Inspire apart,” Merrill said. “Philadelphia and Bucks counties are intricately woven together. We are incredibly excited on this new venture and are committed to setting a standard of excellence that truly resonates with the spirit of Philly.”
To find out more, visit www.inspirefcu.org.