Patriot Federal Credit Union surpassed $1 Billion in assets as of the quarter-ending December 31, 2022, reaching $1,000,647,766.
This milestone places Patriot in the Top 5% of credit unions by asset size in Pennsylvania, as the 13th largest of 352 credit unions. Among all credit unions in the United States, Patriot ranks in the Top 10% in terms of asset size as the 433rd largest of 4887 credit unions, and is the largest credit union in terms of branches and assets headquartered in the Tri-State area – Franklin County (PA), Washington and Frederick County (MD), and Berkeley, Jefferson, and Morgan Counties (WV).
“Reaching $1 billion in assets is a great honor and achievement,” said Brad Warner, Patriot President/CEO. “I’d like to thank our loyal members, who over the years, have played a key role in the growth of our credit union. Also, our amazing staff and volunteers deserve a lot of credit. Their hard work and dedication to serving our members, made this all possible. This milestone not only signifies our growth as one of the top financial service providers in the area, but it also underscores our mission of people helping people and our commitment to our members and the local communities.”
The credit union opened for business in January 1965, as Letterkenny Federal Credit Union, with 32 members and $3,317 in total assets. The credit union topped the $500 million mark in assets in 2014, averaging over 7% annual growth since that time to reach the billion dollar mark. During that period, the credit union has enhanced its product offering for consumers as well as added business lending services, opened 4 branch locations, and expanded its field of membership.
“In recent years our growth has been fueled through a combination of culture and performance,” Warner added. “While delivering accessibility and convenience to our members through new technology is something we’re always pursuing, the other half of the equation is our outstanding people and our strong culture at Patriot.”
Today, Patriot serves over 77,000 members locally and worldwide providing through its network of branch offices, online and mobile banking services, 19 SMART ATMs and access to over 55,000 surcharge-free ATMs worldwide. Patriot operates 10 full service branches as well as a student branch inside Chambersburg Area Senior High School, serving Franklin County (PA), Washington and Frederick Counties (MD), and the Eastern Panhandle of West Virginia – Berkeley, Morgan and Jefferson Counties.