2023: The Year in Review and Looking Forward A Message from the President and CEO Jeff Pachter

The word “Quorum” means a select group, a name that has come to signify who we are as a credit union, who our members are, and the exclusivity of advantages that come with membership. From a small group of Kraft Employees amid the Great Depression who decided they could do better, to a forward-thinking, technology-based online credit union serving members across the country, Quorum remains a credit union dedicated to helping its members save and grow money together, all while they experience—and benefit from—the Credit Union Difference.

Jeff Pachter, CEO Calendar Icon Services Intl Transfers

"For nine decades, we have successfully balanced innovation, entrepreneurship, agility, and foresight with rigorous and comprehensive risk management practices, sound lending policies, and the astute oversight of our governing bodies, which have allowed us to not only remain a safe and sound place to bank, but a competitive place to bank."

The year 2024 is a milestone for Quorum; it marks 90 years in business and 90 years of helping members and partners live life as they choose. It also marks 90 years of Quorum members choosing us and entrusting us with their hard-earned savings. A choice that means all the more to us amidst some of the financial headlines of 2023: Whether it was bank failures, debt ceilings, data breaches, rate hikes (and more hikes), recession fears, or uncertainties surrounding the job market (or, given the rise of AI, questions around the types of jobs that will be available), it was a year where it was difficult to know what was for certain, or who it was safe to trust.

Year after year, Quorum has demonstrated its strength and resilience, and its place amongst the very top financial institutions deserving of your trust. We’ve built a credit union ready to face challenges head on and have an innate confidence (that only comes from experience) that we will come out of any challenge stronger than ever. For nine decades, we have successfully balanced innovation, entrepreneurship, agility, and foresight with rigorous and comprehensive risk management practices, sound lending policies, and the astute oversight of our governing bodies, which have allowed us to not only remain a safe and sound place to bank, but a competitive place to bank. We understand that when we invest in You—our owners—we can’t lose, which is why Quorum profits are always returned to members in the form of new services, better rates, and lower fees.

We have no plans of slowing down in 2024. Each day, we see new players entering the field offering promotional rates, and “better banking” promises. We’re working hard to ensure you don’t need to entertain those offers or chase that basis point. Our top-of-market term accounts (similar to a CD), HighQ Savings account, and versatile checking accounts have all been recognized throughout 2023 from national publications, including Forbes, Bankrate, CNET, Business Insider, Kiplinger, and CNBC. Our mobile banking apps continue to rate highly in their respective app stores. Our collaborations are expanding with our recent partnership with Trust & Will to provide discounted estate-planning services. We know your convenience is paramount, so we continue to invest in intuitive, streamlined, fully digital experiences.

We also continue to invest heavily in your account security. We know cybersecurity risks are a constant threat to all companies, and the risks are ever evolving. We wanted to take this time to remind you Quorum never stops investing in the best security features and systems to ensure your private information remains private. We encourage you to stay vigilant as well. Our Cybersecurity + Privacy section of our Learning Hub is regularly updated with information on the latest scams (and how to combat them) as well as cybersecurity practices to keep you safe online. Our partner Balance has certified experts standing by who can help resolve any issues related to identity theft or help review a credit report for suspicious activity.

As we step into 2024, look for more financial solutions that empower you to lead the life you choose, backed by the security and trust that define the Quorum experience. Here’s to 90 years of partnership and prosperity, Banking That’s Good. For You™ and to the many more years ahead!

Sincerely,

Jeff