From the CEO’s Desk
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 progress and financial position as we closed out another fine year.
2016 was a very busy and exciting year with the construction and grand opening of our 5th branch in Upper Sandusky, we updated Quests mobile and web banking services, agricultural and consumer loans grew by 8.50% and our membership surpassed 13,000. The growth and prosperity that Quest is experiencing can only come from the support of our member owners and I am happy to further report that we finished the year with a bottom line Return On Assets of 0.76%, delinquency at 0.99% and assets of $104 million.
In early January the Board of Directors and Management Team gathered for a short term planning session and although we take a long look into the future, we take an even deeper dive into the near term to make sure we are meeting the needs of our member owners and to insure that we are practicing safe and sound financial decision making. The strength of our balance sheet and our steady, sustained growth shows our commitment to safety and soundness and we renewed that discussion and set realistic and conservative financial goals for the year. We are projecting 8.50% loan growth, 9.00% deposit growth and overall balance sheet growth that will take our assets to $112 million for year-end 2017. We discussed at length the needs and wants of our member owners and found that in 2017 we can focus less on construction and more on member owner service. We are growing and so there are certain operational pressures that are put on the staff such as managing the volume of phone calls while the lobby and drive-thru are full with folks waiting patiently for their turn. We understand the time dilemma this creates for our member owners and so we are going to dissect and analyze how best to meet the needs of everyone and will have a fix on the horizon so we can assist member owners on the phone while not taking away our focus on those that come to or drive to our branch locations.
We identified staff training on multiple products and services as an area of need so we will be training staff so we can better answer the questions of our member owners moving forward and we will also train a Real Estate qualified Loan Officer in every branch! This is a tall task as real estate can be quite difficult and a long term proposition to learn but we know our Loan Officers are highly motivated and very intelligent people and that by mid-year 2017, each and every one of them will be fully qualified to answer our member owners questions as it relates to home financing, purchasing a second home or updating your existing house with needed improvements. A home is the single largest investment that most of us will make in our financial lifetime and Quest is here to help, assist and serve the needs of our member owners with a fully trained staff and every loan product you may need.
It is always a great day to set down with our managers and our board members and discuss where we have been, where we are and where we need to go to continue growing YOUR credit union to best serve our communities.
In closing, I hope you and your families have a very Safe & Happy Winter and I wish you all the best in 2017! I welcome any comments, suggestions or questions from our Owners. I can be reached by calling the Main Office or via email at email@example.com. Thank you for your loyal patronage to Quest and I challenge you to Explore the Possibilities!