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 fall weather.

As we head near the end of the third quarter of 2023, I wanted to update you on our financial progress, and this is shaping up to be another solid year for Quest and its member owners. As of August 31st, we hold $180m in assets with a 74% loan to share ratio. Membership has grown to 15,576 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 1.01%, our target is 0.75-1.25%. Overall, Quest is performing very well, and we look forward to another greatyear-end.

This is a great time to begin a conversation that you will begin to hear more about as we close out 2023 and head into the new year. Quest prides itself on providing our members with the best experience possible and that includes our electronic services and for this purpose our credit, debit and health savings account cards specifically. In our quest to provide the best service possible, we will be embarking on a card conversion process in the spring of 2024. We will be sure to keep you abreast of the timeline and changes you can expect but our goal is to make this transition as seamless as possible and with little to no disruption in card processing as possible. Again, we will keep you posted as we progress and just want to let you all know to stay tuned.

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, and the Board of Directors and Staff would like to wish you all the best. We view Quest as a 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