CEO Message – April 2025

Just two months ago, Pennsylvania’s most famous weather/season prognosticator emerged from his burrow and saw his shadow forecasting six more weeks of winter.  According to the fact-checkers, he is typically not very accurate in this tradition – correctly predicting the change in seasons about 35-40% of the time.  I don’t think I am alone hoping that once again Phil was off base and that spring is truly on the way.

In the short time since the hoopla in Punxsutawney, our teams have been extremely busy with a focus on, and vision of, empowering lives and enriching the economic well-being of our communities.  To enhance the member experience, we’re working on making things more convenient and user-friendly.  For example, in January we broke ground on two new Patriot full-service branches – one on Williamsport Pike near Spring Mills High School in Martinsburg, West Virginia, and another on Antrim Way in Greencastle, Pennsylvania. We expect that both branch offices will open for business in late summer or early fall if all goes as planned.

Last month, we transitioned to a new wealth management partner – Ameriprise Financial Services. For the last several months clients of Patriot Financial Services – which has been rebranded to Patriot Investment Services – have being receiving communications about the change.  Ameriprise provides us with a stronger support team and resources for the financial advisors, Alex and Eric, to serve you.  If the need arises, schedule some time to introduce yourself and meet with them to see what they can offer.

That’s not all that our teams are working on to better serve you.  In the coming months we be rolling out a new phone system with enhanced capabilities, revamping our Online Bill Pay channel, begin replacing ATMs with newer models that feature ‘tap and go’ or cardless access, and upgrading our online and mobile banking platform with additional enhancements.  As we introduce and expand services that members regularly utilize, we feel it is also prudent to look at sunsetting services and channels that are costly to operate, have more limited utilization, and don’t deliver the value that they once did.

A couple of examples of this are the separation from the Allpoint surcharge-free ATM network and the removal of lightly used ATMs at Meritus Hospital and Medical Center.  These changes were made as consumer habits and technology evolves.  The two ATMs located on the Meritus campus had very low utilization and pre-dated our Robinwood Office drive-up ATM, which offers greater accessibility for most members and is located directly across the street.

In the case of Allpoint, many local convenience stores offer surcharge-free ATM access including Wawa, Royal Farms, Rutter’s and Sheetz.  In a typical month, these locations are accessed more than 15,000 times by our members, compared to a very small number through the Allpoint network which carries a hefty cost.  In addition to free access at these convenience stores, members can get cash back at most merchants when they use their Patriot debit card.  Speaking of our debit card, members have responded to the roll-out of Patriot Perks, where they can earn points on everyday purchases. Earned points through Patriot Perks are redeemable for gift cards – just another way that Patriot adds value and enables members to earn more.

We understand that change can often be difficult as it breaks us from habits and routines, some of which we have become accustomed to for many years.  Change is something that many people across our great nation are dealing with under the new administration in Washington, DC and in our personal financial lives with stubborn inflation and higher costs of borrowing continuing.  As consumer habits and trends in our industry change, Patriot is proud to be agile enough to change with the times and invest in our future, a future focused on bringing more value to our members and the communities that we serve.

The change in the Capitol has been fast and furious since late January. Most of us will be impacted in some way as it reverberates throughout our economy.  There are varying opinions on what will happened with interest rates, but the Federal Reserve plans to stay the course to temper inflation, avoid a recession, and land softly.

Amidst the uncertainty and volatility in the political arena, our goal remains steadfastly focused on being here for you, when you need financial services and solutions, in the good times and the challenging ones.  Some of the changes that we make may cause disruption in your habits and daily patterns, but all of our decisions are in the interest of stewardship and doing the right thing for the 80,000 members that we are fortunate enough to serve.

 Patriot can’t be all things to all people, but we strive to provide value and offer financial options to meet the needs of individuals, families, businesses, and organizations throughout our field of membership.

In closing, I want to thank the staff that makes up Team Patriot, our members, and the community.  Thank you for allowing us to serve you and earn your trust and confidence.  We also appreciate your patience and understanding as we make improvements and changes to better serve your needs now and in the future.  And please share your feedback with us If we fail to meet your service expectations, we would ask for the opportunity to address it and make it right.  Likewise, if we exceed your expectations, let others know about your Patriot experience.

Sincerely,

Ron Celaschi

CEO – Patriot Federal Credit Union