Annual Report


Patriot is fortunate to be located in Fulton, Franklin and Washington Counties where unemployment

remains low and new businesses are moving into our markets. Our area remain vibrant, due in part to   our heritage at Letterkenny, as well as our proximity to the I-81 corridor. As military spending has slowed, our economy has been more focused on consumer spending. And everyone knows that in retail it’s all about location!

Today many retail stores are seeing their market share fall in relationship to the growth of on-line shopping. This disruptive technology damages brands like Sears and JC Penney yet more astute companies are winning. Look around and you will notice Amazon, Proctor & Gamble, Home Depot, Staples, and many other warehouse distribution centers located in and around the I-81 corridor. From West Virginia north to the I-78 split, our marketplace is growing.

But as the economy transforms from brick and mortar to digital, financial institutions are impacted. The good news, the next generation wants relationships with smaller local financial institutions. However, to compete you must have the technology and products that meets their needs. Therefore Patriot is focused on offering services such as remote deposit and mobile banking . . . but they must be integrated seamlessly into our traditional core.

Last year we introduced Interactive Teller Machines (ITMs) but failed to listen to our members. I want you to know that we heard you . . . but more importantly I heard you. As we refocus on new technologies Patriot will look for member-driven solutions. Recently we added finger-print authentication to our mobile banking platform and Life Lock services to protect your identity. Banking is changing and so must Patriot.

But this doesn’t mean we’ll change our core values. Today we serve over 52,000 members living in all 50 states.  Patriot’s focus remains not for profit, not for charity but for service; simply stated we exist to serve YOU.  Patriot brings exceptional value to our members and communities here in Pennsylvania, Maryland and beyond.  However, we believe that we must continuously look for ways to add value and enhance service – if you’re not growing . . . you’re dying!

So what is it that Patriot offers our stakeholders?

Patriot is convenient.  This may mean having a branch nearby with hours that fit your lifestyle, or it could mean having access to online and mobile banking.  It can also mean working with a network of car, truck, motorcycle and recreational vehicle dealers to provide financing for members where they shop. Recently we’ve opened a new branch at 1536 Lincoln Way East in Chambersburg.  This branch is all about convenience – from expanded hours to the accessible location.  We’ve integrated Interactive Teller Machines at our drive-up to offer personalized service receiving many positive comments from our members.  It’s not the experience you expected, its better! If you haven’t given it a try, it’s time for you to experience the Patriot difference!

Patriot is a community asset.  Financial literacy is more important than ever.  For the past two years we have gathered roughly 100 volunteers to sponsor a “Reality Fair” for hundreds of students at the Chambersburg Area Senior High School.  Additionally, we continue to provide financial support to other worthy organizations. Patriot wants all stakeholders to know that we live and raise our families here.  Accordingly we want to give back to the communities we call home. If you know of worthy projects you believe will enhance the lives of those living within our markets, please bring them to our attention.

When it comes to financial services, our members expect that their information is safe and that their money is secure. But beyond these basics, Patriot cares.  No matter how big or small a member’s account may be, Patriot remains committed to serve members with the dignity they deserve.  If you don’t have your checking account with Patriot, it may be time for you to take another look at Patriot!

Patriot is technology-savvy. For members who prefer to access Patriot without visiting a branch we’ve upgraded our website for “responsive design”, allowing smart phones to see our graphics in a similar fashion as do personal computers.  Members can utilize a single sign-on to eBranch from our home page.  And we have signed a contract with the Allpoint ATM Network to offer over 55,000 surcharge free ATMs across the United States beginning in July.  Stay tuned as we focus on integrating on-line banking, mobile banking and on-line lending to our core system.

Patriot offers products & services that meet my needs. Last year we added FHA, USDA, VA and Construction mortgages.  We introduced a new Home Equity Line of credit and a new fixed rate Home Equity Loan.  We booked 641 mortgages for $51 million dollars. We rank as one of the top five mortgage originators in Franklin County.  On the auto lending side, Patriot remains the #1 indirect lender in Franklin County and one of the top three indirect lenders in Washington County.

There are many other statistics, but let’s just say we’re proud of our credit union and our employees. We are excited about what lies ahead for Patriot, our team, our members and our communities.  I promise that we will continue to earn your trust and your business.  If there is any way that we can improve our service, feel free to reach out to me via my direct email ([email protected]).

In closing, I’d like to recognize my predecessor, Peggy Bosma-LaMascus, who retired after 34 years of service. She grew our Credit Union from $27 million to $524 million with over 160 employees and nine branches. Her dedication to Patriot Federal Credit Union was monumental.  She has set the foundation for our new team to build upon.

I thank you for the opportunity to serve you and please recommend us to your family and friends when they need financial services.


Brad R. Warner, President/CEO