Timeline & History of Diamond Credit Union

Diamond Credit Union is a Pennsylvania state-chartered and federally insured credit union serving Berks, Montgomery, Chester, and Bucks Counties. Since 1947, we have offered low-cost financial services with world class member service. As a not-for-profit financial cooperative, we are owned and operated by our members and are one of the area’s largest member-owned credit unions. Discover our history below.

Full-Service Branch Locations:

Boyertown Branch (Route 100 at County Line Road), 173 Holly Road, Gilbertsville, PA 19525

Exeter Branch (Route 422 at Pineland Road), 6591 Perkiomen Avenue, Birdsboro, PA 19508

Muhlenberg Branch (Business Route 222 North and Darby Ave), 4453 North 5th Street Highway, Temple, PA 19560

Cumru Branch (Corner of Route 724 and Route 625), 1030 Cedar Top Road, Reading, PA 19607

Pottstown Branch (Route 422 – Armand Hammer Exit) 1600 Medical Drive, Pottstown, PA 19464

Royersford Branch (Royersford Exit off Route 422), 100 Diamond Way, Royersford, PA 19468

Tower Health Reading Hospital Branch (Located in R Building), West Reading, PA 19611

Wyomissing Branch (Corner of Broadcasting & Paper Mill Roads), 1500 Ethan Drive, Wyomissing, PA 19610

Over 75 Years of Growth: Our History

2024 – Diamond opens the Cumru location, the organization’s eighth branch and celebrates with a ribbon cutting ceremony in April.

2024 – Diamond reaches new heights with assets over $1 billion.

2023 – Diamond launches Business Services division to offer more services for business members.

2023 – Diamond breaks ground for the organization’s eighth free-standing branch in Cumru Township.

2022 – Diamond’s 75th Anniversary. Diamond Credit Union President and CEO, John M. Faust, retired after 37 years of service.

2021 – Diamond expands its charter to be able to serve all of Berks, Montgomery, Chester, and Bucks Counties.

2021 – Diamond reaches “the Next Level” with assets over $900 million.

2020 – Diamond reaches “the Next Level” with assets over $800 million.

2020 – Diamond opens a new branch for employees at Tower Health Reading Hospital. This was the third consecutive year the ribbon was cut to celebrate a new location.

2020 – Diamond achieves a new milestone with growth in assets reaching $700 million.

2019 – Diamond builds their 6th free-standing branch in Muhlenberg Township. This marks the first time in Diamond history that 2 free-standing branches have been constructed in consecutive years.

2018 – Diamond’s 5th free-standing branch (and 6th branch overall) opens in Royersford, PA.

2018 – Diamond reaches “the Next Level” with assets over $600 million.

2017 – As construction in Royersford got underway, Diamond secured a location for a 6th freestanding branch in Muhlenberg Township, scheduled to open in 2019.

2017 – Diamond’s 70th Anniversary. As assets grew to over $576 million and membership exceeded 60,000, ground was broken and construction began on Diamond’s 5th free-standing branch in Royersford, Montgomery County.

2016 – Taking Diamond to the Next Level. Assets reached $500 million in February and membership continues to surpass 54,000 members.

2015 – Diamond is named Business/Enterprise of the Year by the Tri-County Chamber of Commerce.

2014 – Diamond achieves over $450 million in assets and reaches over 50,000 members.

2014 – Diamond ranks as the 13th Healthiest Credit Union in the U.S. and the #1 credit union in Pennsylvania for financial health.

2014 – To support the strong member base and potential growth in the Boyertown area, Diamond opens their fourth freestanding branch in Gilbertsville, PA.

2013 – Diamond’s steady growth continues, reaching over $400 million in assets and more than 45,000 members.

2012 – Diamond opens their third freestanding branch in Exeter Township, Berks County.

2011 – Construction begins on Diamond’s third freestanding branch in Exeter Township, Berks County.

2010 – As a result of their efforts in 2010, Diamond contributed over $58,000 to the American Cancer Society Relay For Life for a total five-year commitment of over a quarter million dollars.

2009 – Diamond Credit Union Board Chairman, Herbert N. Yost retired after 26 years of service and also received the Pennsylvania Credit Union Association’s 2009 Joseph A. Moore Volunteer of the Year Lifetime Achievement Award.

2008 – Diamond continued to grow and exceeded $300 million in Assets with over 37,000 members.

2007 – Diamond celebrates 60 years of service within the community.

2006 – Diamond Credit Union was granted a change in charter from serving only Select Employer Groups to serving anyone who lives, works, worships, regularly conducts business, or attends school in Berks County and the Tri-County Region.

2004 – In Spring Township, Berks County, Diamond constructed its second freestanding branch to serve the financial needs of members who reside and work in the Reading area.

1998 – Diamond began a massive expansion and renovation project that saw its main office at 1600 Medical Drive, Pottstown, grow to 23,400 sq. ft.

1997 – Diamond Federal Credit Union shortened its name to present-day Diamond Credit Union to reflect a conversion to a state charter.

1996 – In March of 1996, Diamond began its affiliation with the largest employer in the region, The Reading Hospital and Medical Center.

1990 – Dana Pottstown Federal Credit Union changed its name to Diamond Federal Credit Union to reflect the ability to serve multiple businesses.

1986 – Dana Pottstown Federal Credit Union moved its headquarters from the Dana facility to 1600 Medical Drive, Pottstown.

1983 – The national charter for federal credit unions was changed to allow credit unions to serve the financial needs of multiple businesses. For the first time in its history, Dana Pottstown FCU began to serve the financial need of employees other than its original sponsor group, Dana Corporation.

1962 – Dana FCU reached $1 million in assets, making it the first million-dollar credit union in the Schuylkill Valley.

1950 – Spicer Pottstown Federal Credit Union hired its first full-time employee. Spicer Manufacturing Company would later become Dana Corporation, which prompted the credit union to, in turn, change its name to Dana Federal Credit Union.

July 19, 1947 – Diamond Credit Union was founded as Spicer Pottstown Federal Credit Union to serve the employees of Spicer Manufacturing Company. There were 8 original charter members.