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COVID-19: All Branch Lobbies Are Closed, Drive-Up Access is Open

As of November 25, our branch lobbies are closed at all locations due to recent spikes in COVID-19. Our drive-up access remains open.  For more information, visit CitadelBanking.com/COVID19.

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What is an escrow account shortage?

Frequently Asked Question

If your taxes or insurance increase by more than the escrow “cushion”, Citadel still makes the payments. An escrow account shortage is the amount of money needed to build your escrow cushion back up to equal 1 month’s escrow contribution. The following are common reasons for an escrow shortage:

  • An increase in the tax or insurance bill
  • Underestimation of the tax assessment on a new construction loan.
  • An unanticipated disbursement, such as an interim tax bill.
  • Changes in your insurance carrier
  • Force Placed insurance.

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