Hello, my name is Matt Jennings and I am the CEO of Quest Federal Credit Union.
I wanted to take a moment and update our owners on our financial progress for the year and to highlight a few initiatives that we will be focusing on in the coming months.
Financially, Quest is having another very solid year. Net Worth is at 10.12% for the period ending June 30th with loan growth continuing to perform above expectation with an expansion rate of 7.43%. If this trend holds, we will see +15% loan growth for the 2nd consecutive year. Return on Assets or ROA is very stable and steady at 0.96% which is above the industry standard. Our delinquency rate fluctuates between 1.20% and 1.50% which is very normal for our business model and continues to hold in that desired range. All told, 2015 is on budget and on track for another fantastic year thanks to the patronage of our owners!
A few exciting initiatives that we will be working towards in the second half of 2015 include upgraded graphics on our ATM’s making them easier to identify and use, expanding our network of shared ATM’s with NO FEES and the launch of an updated website that will be like none other in our market. As you have come to expect from Quest, we are continually looking for new and better ways to deliver our products and services to our members and rest assured that our work, or in this case Quest for better products and services continues!
In closing, I hope you enjoy and your families have a very Safe & Happy Summer Season. I welcome any comments, suggestions or questions from our Owners. I can be reached by calling the Main Office or via email at mjennings@questfcu.com. Thank you for your loyal patronage to Quest and I challenge you to Explore the Possibilities!
Matt Jennings
Chief Executive Officer
