From the CEO – January 2022

From the CEO’s Desk

Hello, my name is Matt Jennings, and I am the Chief Executive Officer of Quest Federal Credit Union and I hope this letter finds you enjoying the New Year and staying warm and safe in the winter weather months.

2021 is now in the books and it was a fantastic year for Quest and its member owners. We finished the year at $185m in assets with 14,936 member owners. Loan growth was amazing over the last several years and 2021 was no different. Gross loan growth for 2021 was 15.40% which allows Quest to continue to expand and grow into new areas of our market. Speaking of growing into a new area, W. Lewis Construction continues to work daily on our Russells Point branch, and they now have the building framed in, under roof, and are working on the early stages of plumbing and electric. I am asked often when we believe the new branch will be ready and our projection is Memorial Day 2022.

A few more fast facts about our performance in 2021. Membership grew at a rate of 5.69% and delinquency ended the year at 0.19%. Return on Assets or ROA finished the year at 0.583% which is within peer average for a credit union our size and again, this allows us to continue to grow and expand moving into the future. We thank our member owners for their loyalty and without our members continuing to use Quest as their primary financial institution, we could not experience the growth and success that we have maintained over the years.

If you have not already, please check out our Exploration Podcast series which you can find on our website or by visiting the podcast app on your smart phone and searching Quest Exploration. We have built a robust library covering many topics that you may find of interest or that can be used for self help for such things as online banking, learning how to apply for loans, student loans and much more.

Listen to Exploration!

In closing, thank you for your patronage. The Board of Directors and Staff would like to wish you all the best in the New Year and beyond. We view Quest as one big family and we are here to help, so if there is anything that we can do to make your quality of life better, do not hesitate to ask! Stay safe, take care of family, neighbors, friends and yourselves. Thank you and I welcome any comments, suggestions or questions from our member/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

Quest FCU CEO, Matt Jennings Matthew Jennings, CEO
Quest Federal Credit Union
From the CEO – January 2022 posted on January 21st, 2022 by in From the CEO | Permalink

Conversion Details

Card Conversion Details

On February 28, 2022, Quest Federal Credit Union will be undergoing a card conversion project due to the merger/acquisition of our card processing company.

During this card conversion project, member/owners will be minimally impacted as the conversion is mostly a “behind-the-scenes” conversion project. No new cards and limited downtime (after hours/early morning) during this conversion. More details will be available as we approach February 28, to inform and keep everyone notified.

Rewards/Loyalty Program Changes

The most notable change, and only member-facing change, will be the switch from our existing rewards/loyalty points program. Currently, all member/owners with debit and/or credit cards are currently enrolled and earning points with the DreamPoints program. On February 28, 2022, the loyalty program will be switching to Scorecard Rewards. For questions, please see below.

Frequently Asked Questions (FAQs)

  1. Can I use my points now?

    Of course you can, to register and redeem points now, prior to February 28, 2022, go to https://www.dreampoints.com/questfcu/login.php and register today. You’ll need your card number and Quest FCU account information in order to register.

  2. What will happen to my rewards point balances?

    Starting on 03/01/22, your rewards will be serviced by our new loyalty provider. Your existing unredeemed points will be transferred to your new rewards account.

  3. What does my new rewards program offer?

    Your new rewards program will offer features and redemption options comparable to what you have today.

    We will offer a robust selection of redemption options, including:

    • Top-shelf merchandise from brands such like Apple®, Sony®, Bose®, Dyson® and many more with shipping options that include a one- or two-day delivery time.
    • Travel bookings including flights, hotels, car rentals, cruises, excursions, and more.
    • Gift cards from your favorite retailers for everyday purchases or to celebrate special events.
    • Redeem loyalty points for instant discounts on fuel at participating BP® and Shell® stations, right at the gas pump.
    • Donation of points for a good cause to one of the more than 1.2M non-profit organizations involved in our network’s Charitable Giving program.
    • Usage of points to purchase actual shares of stock in publicly traded companies
    • Redemptions for tickets to theater, concerts and sporting events.

  4. Where will I go to redeem my points?

    After your new program start date of 03/01/22, please go to www.scorecardrewards.com and create an account. You will need your card number to register. Also, for your protection, please make sure to add your email address and mobile phone number so that we can verify your identity when you create your new rewards account.

    Moving forward, you can log in into your new rewards portal to view your point balance, search and view all available redemption options and more! It’s that easy.

    You will also have a dedicated rewards customer service team to support general cardholder servicing. This group is available 24/7 (Monday through Sunday, excluding major holidays) to support consumer questions, general inquiries, resolve issues, assist processing merchandise redemptions, etc.

  5. Is there anything that I need to do before my new program start date?

    There is nothing for you to do before your new program start date. Continue using your card without interruption. You are continuing to earn points for your purchases. Even better, any of your existing unredeemed points will be transferred to your new rewards account.

    Please note, points from your current rewards account will not be available for view or transactions on 03/01/22 as it may take up to 30 days to reflect on your new rewards account.

    After your new program start date of 03/01/22, please go to www.scorecardrewards.com and create an account. You will need your card number to register. Also, for your protection, please make sure to add your email address and mobile phone number so that we can verify your identity when you create your new rewards account. Moving forward, you can log in into your new rewards portal to view your point balance, search and view all available redemption options and more! It’s that easy.

  6. Why won’t I be able to view my existing points starting on 03/01/22?

    You will continue to earn points starting on the start date of your new rewards program, so rest assured that your point earnings will not be interrupted. As part of the process to transition your existing points to your new rewards account, and to ensure that your rewards earnings are not interrupted, our new rewards provider cannot begin the points migration until the day that your new account is live. While we do not expect it to take the full 30 days for your existing points to migrate over, we do want you to be aware that your existing points will not display on your new account for a few weeks after the transition.

Conversion Details posted on January 13th, 2022 by in News | Permalink