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 we are having another very strong growth year in loans, shares, membership and more.
May 2014 ended as a very strong month for Quest and so far 2014 is another very good year. Below are several year to date financial ratios of interest that I thought you may find helpful and important. Net Worth ended the period at 8.99%. Return on Assets ended at 0.76%. Fixed Assets are 2.53%, well below the 5.00% limit, Market Growth is very strong at 11.81% and Loan Growth annualized is 10.12%.
Quest continues to perform well financially and as we finalize our numbers for the first quarter of 2014, I will be sure to give you an update.
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 Safe and Happy Spring Season! Quest Federal Credit Union – Explore the Possibilities.
President – Board of Directors