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 all well, and enjoying the early fall weather and beautiful change of colors of the trees and crops.

Quest is rounding out the third quarter and we are performing quite well. Currently we have ROA of 0.72% year to date, Net Worth stands at 9.29% and our Loans to Shares are very strong at 78.18%. Delinquency is higher than we prefer at 1.08% but with that said, there are a few struggling loans that will return to performing and this number will be less than half of what it is now. Assets ended August at $191.5m, which is $8m in growth since year end. All in all, Quest is growing, and we are financially strong.

The card transition was a great success. There were a few hiccups but nothing that caused any long term disruption to members and most of those were ATM and card settings that we needed to adjust and tweak. I want to thank the staff for doing an amazing job working through this transition that will carry Quest and our members forward for many years.

I am very pleased to announce that Quest is a participating financial institution in the Treasurer of State’s Home Buyer Plus Program. Originally we were one of the first nine to assist the State of Ohio in launching the program and we are beginning to open accounts for our members. The program is designed to encourage savings for a down payment or closing costs on a home. It doesn’t have to be a first home and can be used for any primary residence as long as the member is an Ohio resident age 18 or older and the home to be purchased is located in Ohio. If you haven’t explored this opportunity and if you are planning for a home purchase in the future, please check out the website or feel free to stop at any office and the Member Service Representatives would be happy to answer any questions you may have and facilitate the account opening process.

Check out the Ohio Homebuyer Plus Program details!

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! 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