2013 IN REVIEW
A Message From Bruno Sementilli, President/CEO
2013 was potentially our most ambitious year to date. In addition to continuing to enhance our core products—mortgages, credit cards and checking accounts—we began to replace our online banking systems as well as revamp our corporate website, the benefits of which you will experience in the coming months. Thank you to all who participated in our 2013 online banking survey; we’ve read your feedback regarding the log-in process, website speed, and mobile banking features. These aspects of our site—and more—will be enhanced in the year ahead.
2013 was about refining our new products, based on your feedback. As of November 30, 2013, there was a 112% increase in QChoice accounts opened over last year, a 50% increase in new credit cards issued, and a 10% increase in mortgage loans.
Our Vacation Ownership (VO) partnerships continue to thrive—this year, we welcomed Grand Crowne Resorts to our family—with Credit Union membership growing 58% in 2013 in the VO sector. Forty-six percent of these VO members were brought on by our newly-launched co-branded credit card initiative. These programs were built from the ground up with our VO partners, offering points-based rewards geared to the VO vacation enthusiast, with ongoing card servicing provided by the Credit Union. We’re thrilled to provide a financing option that’s enabled vacation ownership for so many new members.
We are thankful for all of our members, and continue to look for ways to serve our current members better, as we expand the community nationally. After the Kraft restructuring, we followed our members to Deerfield, IL, and are now happy to count Mondelez International employees as part of our growing membership. Our newest select employee group, MasterCard, will be adopting Quorum as its credit union for all of its employees, nationwide. We will also be cooperating in developing and testing MasterCard products and innovations in the coming months.
Also worth noting, we’ve moved! As a cost-savings measure, we’ve relocated our Headquarters to 2500 Westchester Avenue, Suite 411, Purchase, NY 10577. Thirty percent savings in cost per square footage have allowed us to continue to grow and hire the best and brightest employees. Our employees have in turn helped us to be voted for FOUR consecutive years one of the Best Places to Work For in New York by the New York State Society for Human Resources and the Best Companies Group.
Our sincerest gratitude goes out to our members, employees and Board of Directors who helped us make 2013 another successful year for Quorum. It is our honor to be your financial services provider.
Best wishes for a happy and healthy New Year,
Bruno Sementilli
President/CEO