Annual Report

55th Annual Membership Meeting Recap

Rodney Hood

Patriot recently held the 55th Annual Membership Meeting on June 22nd at Green Grove Gardens in Greencastle, PA with over 100 volunteers, members and guests in attendance. Special guest, The Honorable Rodney E. Hood, Board Member of the National Credit Union Administration (NCUA), virtually presented “The State of the Credit Union Movement”. Click here to listen to his presentation. Please make plans to join us next year and thank you to members for joining us this year.

CEO’S 2020 Annual Report

What a year! I’m sure we won’t forget 2020 for a long time. With that said, we’ve so much to be thankful for. As a co-operative, credit unions were in a great place to make a difference. For starters, while many were focused on what couldn’t be done, Team Patriot focused on what could be done. This difference was especially important as we do business in three states (Pennsylvania, Maryland & West Virginia). At first we attempted to respond to each “guideline” from all three states. But we quickly realized that our focus needed to be on our members’ needs. Once this decision was made, the way forward became clearer!

Please allow me to begin by extending gratitude to our members. Your understanding, patience, and cooperation as we temporarily closed lobbies (pushing member business to drive-ups and our call center) was truly exceptional. Your understanding gave Patriot the necessary time to install safety measures and become first in our market to re-open under new protocols. To our members . . . YOU are the best!

Next allow me to thank Team Patriot. Our credit union operates under a Servant Leadership culture. This is a culture built from the membership down. So I wasn’t surprised to see membership officers begin picking up calls on behalf of our contact center employees who were overwhelmed with phone calls. Tellers embraced the concept of what we now call “Curbside Service” which shortened drive-up wait times. Our asset protection and credit recovery departments began contacting members with loans to proactively offer skips for those laid-off or facing uncertain times. Our commercial lending area quickly sought approval from the Small Business Administration (SBA) to offer Paycheck Protection Program (PPP) Loans. This approval took less than a week. And our IT department managed request after request to make changes and add new services. They never complained and in some cases created new products in just hours.

I couldn’t be more proud of our employees. They’ve responded with a focus on safety AND our mission of People Helping People. Within days our call waiting time was reduced to 15 seconds, drive-up time to minutes and employees across the organization were focused on how to help members during a time of need. We made nearly $5 million in PPP loans, which allowed local businesses to keep staff on their payrolls during a time when lay-offs and furloughs were on the rise. We granted more than 2,000 loan skips, allowing members the necessary time to shore up their household finances. Accordingly, there simply aren’t enough words to adequately express my appreciation to my Team. We’re truly blessed!

If this had been all that we accomplished during 2020, it would have been enough. After all, no one can doubt that 2020 was a difficult year. Yet Patriot went way past my expectations. Let’s review our recent growth metrics.

Dollars listed in (000’s)
Year-end Assets Loans Shares Earnings Members
$524,125 $311,063 $458,983 $2,884 51,686
$558,283 $376.717 $491,091 $3,703 55,088
$591,112 $438,791 $517,379 $4,113 59,291
$658,160 $515,377 $577,201 $5,888 67,058
$730,357 $570,280 $634,093 $6,528 72,939
$849,883 $630,873 $749,563 $7,401 76,861

To recap, during 2020 Patriot experienced double-digit year-over-year growth in nearly every category – 16.4% in assets, 10.6% in loans, 18.2% in shares, 13.4% in earnings, and 5.3% in membership. These accomplishments are phenomenal and not possible without the confidence and support of our members and the hard work of Team Patriot!

Yet, metrics aren’t the whole story. For the third year in a row Patriot earned the most favored financial institution in the Public Opinion’s Best of Franklin County, and for the first time we were named the Best of the Tri-State by readers of the Hagerstown Herald-Mail newspaper. These are a series of recognition confirming a focus on our brand: Patriot is convenient, offers the products and Services you are looking for, but most importantly . . . Patriot Cares!

Finally, many of our 2020 planned projects were delayed. So 2021 will be stressful as we attempt to catch up to our Board of Directors’ Strategic Plan. However, I’d be remiss if I didn’t note two specific projects which were completed after years of concerted effort.

In October, the National Credit Union Administration (NCUA) granted our Field of Membership (FOM) expansion request. And in November Patriot’s community charter area became Franklin County (PA), Frederick and Washington Counties (MD) and the Eastern Panhandle of West Virginia – Berkeley, Jefferson and Morgan Counties. This allows Patriot the ability to grow and survive into the future by serving members that live, work, worship and generally do business within our FOM.

Also during 2020, we deployed Smart ATMs. Members can now pick their denomination. Smart ATM’s have been very successful causing a 30% increase in usage. As we expand our FOM, Smart ATMs will play an increasing role.

And I would be remiss if I didn’t acknowledge our wonderful board of directors. They volunteer their time and efforts for the good of our entire community.


Brad R. Warner, CEO