2015 IN REVIEW
A Message From Bruno Sementilli, President/CEO
We are delighted to report record growth in deposits and first and second mortgages in 2015, thanks to you, our members. This means more of you were able to save for your future, and more of you were able to achieve home ownership. This shared success allows us to better position Quorum for the future.
The Core of our Business
As I mentioned last year, much of 2015 was devoted to converting core processing systems in May. This was no small feat (our last conversion was 20 years ago); a conversion is costly, and arguably one of the most time-intensive challenges a company can undertake. But without integrated solutions, information is increasingly difficult to access, new products are slower to launch, and ultimately, systems are more expensive to maintain.
While we are still working towards full integration, our system upgrade ultimately translates into your empowerment: allowing you to bank on your terms. Putting a freeze on a credit card, adding a joint owner to your account, rolling over your term account—these are examples of actions you’ll soon be able to perform yourself, should you wish—so that banking can be done on your time and your schedule.
In addition, we’ve invested heavily in ramping up our remote services and improving our infrastructure: we continue to enhance online and mobile banking, and evaluate new offerings. Innovation happens so rapidly it can be hard to keep up, but we’ll be right there, giving you access to new services like MasterPass™, Apple Pay, and the soon-to-be-released Samsung Pay.
Wherever you need us,
that’s where we’ll be.
As many of you may be aware, due to the closing of the Kraft Heinz building in Northfield, IL, our Service Center located within the facility closed on December 18th. We’ll continue to serve our Kraft Heinz members at the new location in Chicago, and will announce more details in the very near future.
We’ve also been busy expanding our partnerships. This year, we added the School of Management at Yale University to our impressive roster of schools in our international graduate student loan program (joining Johnson at Cornell University and Wharton School of Business at University of Pennsylvania). Together with our core undergraduate student loan program, we’ve loaned over $11.9 million this year, helping more of you attain the education you deserve. And, in addition to our Vacation Ownership loan program, we have also begun partnering with leading medical partners in audiology and fertility to offer financing options.
Thank you all—our members, employees and Board of Directors—for helping us achieve one of our most successful years to date. We are proud to be your financial services provider.
Have a happy and healthy New Year,
Bruno Sementilli
President/CEO