Philadelphia skyline
In 1948, American Heritage Credit Union, then Budd Workers Federal Credit Union, began business on the north side of Philadelphia. As of the end of 2024, the credit union rose above the $5 billion asset size for the first time in its long history.
In a statement Thursday, officials with American Heritage said they had achieved this “major accomplishment” and expect more growth for its 315,518 members with more than 35 locations across its field of membership.
American Heritage President/CEO Bruce Foulke said, “When we were founded, our mission was clear, to serve every member in the Philadelphia area, regardless of who they are or where they live. Reaching $5 billion in assets and growing to 300,000 members reflects the strength of that original commitment. Today, we’re proud to serve a membership that embodies the incredible diversity of our community.”
Foulke added, “Our goal has always been to provide the right financial solutions to our members because they are family. It started with our first members at the Budd Manufacturing Company plant, who came together to pool their resources and improve each other’s lives. That spirit of family and ‘people helping people’ remains at the heart of everything we do, now shared by our 300,000 members, Workplace Partners and community partners.”
The $5 billion asset threshold places American Heritage in the top 75 largest credit unions in the United States.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
