Working Hard for Its Community: Inside Patriot Bank

Connecticut-based Patriot Bank has 25-plus years of experience serving its community. And its commitment extends to philanthropy, focused on helping kids excel.

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Dozens of tight-knit enclaves scatter the corridor along Interstate 95 through the New England state of Connecticut. Towns like Greenwich, Norwalk and Hartford are hubs for growing families and small businesses. And a common fixture in many of these communities: A Patriot Bank branch.

As a bank guided by its values and committed to standing up strong communities, Patriot Bank was a natural fit to join the network of partner banks offering their deposit products through SaveBetter. Here’s why savers nationwide should consider choosing to support Patriot Bank through SaveBetter.

A tradition of service

Headquartered in Stamford, Patriot Bank has been serving communities throughout Connecticut and in neighboring New York for over 25 years. Its mission since its founding in 1994 has been to help local families and businesses thrive.

“Our clients are our neighbors, and we treat them that way,” says Robert G. Russell, Jr., President and Chief Executive Officer of Patriot Bank. “We really focus on customer service, and working for and within the community. Helping create a stronger, better-connected community has been the recipe for our success.”

That locally minded approach shows through in Patriot Bank’s lending practices. Loan officers are based locally, understand the economic landscape, and work with clients across the business spectrum from for-profit to nonprofit institutions.

The human side of community investment

Complementing the work it does to serve businesses, Patriot Bank and its staff also focus on directly supporting children’s programs that inspire kids to achieve their goals. The bank has given back through recent donations to institutions and causes that encourage students to stay in school and enable them to grow academically and professionally, including by connecting them with coaches and mentorship opportunities.

Patriot Bank’s high-earning money market deposit account

What is Patriot Bank offering through the SaveBetter platform? One of the most competitive deposit products available: a money market deposit account (MMDA)with an APY of 0.45% — a rate that’s nearly six times higher than the national average for a traditional savings account.* (Not familiar with MMDAs and their unique benefits? Learn more here.)

Patriot Bank is FDIC insured

The Federal Deposit Insurance Corporation (FDIC) protects bank customers by keeping their money protected against losses related to a bank failure. Because Patriot Bank is an FDIC member bank, money you hold through your SaveBetter account in a Patriot Bank deposit product (like the previously mentioned MMDA) is covered by deposit insurance through the FDIC, up to applicable limits.

Ready to save with Patriot Bank? Here’s your next move: Check out the bank’s savings solutions and select a product that’s right for you.

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APY means Annual Percentage Yield. APY is accurate as of June 30, 2022. Interest rate may change after initial deposit. Minimum opening deposit is $1.00.

Each customer authorizes the Custodian Bank to hold the customer’s funds in a custodial capacity in order to facilitate the customer’s deposits to and withdrawals from deposit accounts at various Product Banks that the customer requests through SaveBetter.com. The Custodian Bank does not establish the terms of the deposit accounts, or offer the deposit accounts to customers, and provides no advice to customers about deposit accounts. Central Bank of Kansas City, Member FDIC, d.b.a. Central Payments is the Service Bank. Custodian services are provided by Lewis and Clark Bank.