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
2012 results are in and I wanted to highlight a few areas of interest. Loans grew by 11.36% finishing the year at $43,067,528, deposits ended the year at $75,786,578 and assets grew by 12.06% totaling $83,789,927. Quest had an outstanding year in member growth ending the year with 12,003 members or 4.03% growth from last year. Our Net Worth continues to be strong at 8.54%, delinquency is very manageable when considering the economy at 0.93% compared to year-end 2011 of 1.37% and we finished the year with Net Income of $344,480. 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.
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 Plaza Inn Family Restaurant in Mt. Victory on March 23rd. This year we are trying a new format and hosting the meeting over breakfast. 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.
President – Board of Directors