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 beautiful early summer weather.
As we head toward the halfway mark of 2023, I wanted to update you on our financial progress, and this is a great start to another solid year for Quest and its member owners. As of May 31st, we hold $183m in assets with a 70% loan to share ratio. Membership has grown to 15,304 in our three-county area and our growth goal for the year is 3.50%, we are well on our way! Delinquency continues to remain very manageable, which is a great sign for the quality of our loan portfolio. We continue to have a strong bottom line with a return on assets year to date of 0.90%, our target is 0.75-1.25%. Overall, Quest is performing very well, and we look forward to another great year and I will keep you updated as the year progresses.
We are working on several specials for our members for the summer and as we head into “fair season”. Look for a rate special on both loans and deposits and I am sure that you will find these to be helpful for your financial needs. You can find these specials soon on our website, social media pages or by calling into any branch office and asking our friendly staff.
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.
In closing, thank you for your patronage, and the Board of Directors and Staff would like to wish you all the best. 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 firstname.lastname@example.org. Thank you for your loyal patronage to Quest and I challenge you to Explore the Possibilities!
Matt Jennings, Chief Executive Officer
Quest Federal Credit Union