As President of the Board of Directors of Quest Federal Credit Union, I like to take the time on occasion to communicate with our members and the community about what is taking place at Quest. Our credit union continues to thrive and had a strong year for loan, share and member growth

2011 results are in and I wanted to highlight a few areas of interest. Loans grew by 5.09% finishing the year at $38,673,477, deposits ended the year at $67,024,818 and assets grew by 11.66% totaling $74,775,117. Quest had an outstanding year in member growth ending the year with 11,538 members or 5.43% growth from last year. Our Net Worth continues to be strong at 9.10%, delinquency is very manageable when considering the economy at 1.37% and we finished the year with Net Income of $143,745. Again, we grew in all of our critical areas, loans, deposits, assets and members and the Board of Directors and Staff would like to thank our members for your loyalty and patronage, without our members using Quest as a resource, we would not be able to expand and offer the products and services that we all want and need.

Other highlights of 2011 were the completion of our first full year with our Ada Branch and we couldn’t be happier with the results. Membership exploded in this market and the community reception has been fantastic. We also acquired property in Russells Point for future expansion. We are consistently asked about when this branch will become a reality and the short answer is this, we will grow and expand as our members warrant and as our financial strength will allow. With that being said, we are projecting 2014 as the date that we will expand and open our Indian Lake Branch.

I hope that you find this information worthwhile and I would like to take this time to remind you that our Annual Meeting will be held at the Hardin County Armory on March 24th. Please keep an eye on our website and newsletter for more details.

Thank you for taking the time to catch up on what’s happening with YOUR credit union and I will be sure to keep you updated periodically about our financial strength and stability and any new products or services that may be coming your way. Thank you for your continued patronage and we wish you and your families a healthy and successful New Year! Quest Federal Credit Union – Explore the Possibilities.

Dick Wilcox
President – Board of Directors