Dear Member-Owners,Thank you to all members who attended our 72nd Annual Meeting! This year’s meeting was held at New Covenant Bible Church on April 15, 2024. Our guest speakers were Gabe Rohwedder and Sarah Buehler from Guide Wealth Partners. They shared history and trends with the stock market and inflation, as well as hopes for the future based on those trends. Door prizes were won, and every family took home an entire “Meal-to-Go,” including dessert!For those who were unable to attend our Annual Meeting, you were missed, and we hope that you will join us next year for our 73rd. Our Annual Meeting is instrumental to the success of our credit union because it is when the members vote for our Board of Directors. As a member of the credit union, your vote at the Annual Meeting is important because the Board of Directors are responsible for the direction of the credit union. The Annual Meeting is also a time for us to share our credit union’s success with our members and notable news. This year, I lost my voice due to illness, so I was unable to share how strong the credit union is and how proud I am to be a part of such an amazing QOCU family.As we all know, 2023 was a challenging year. The economy suffered from high inflation and interest rates were on the rise. Prices of goods and services, gasoline, homes, and automobiles– all increased. This took a huge toll on the ability of many to save money. Many credit unions and banks experienced a decrease in deposits in 2023. While no credit union failed in 2023, two major banks collapsed due to liquidity concerns and improper planning. Here at Quaker Oats Credit Union, I am proud to share that 2023 was an extraordinary year. QOCU was resilient! We welcomed 65 new members to the QOCU family. We offered lower loan rates than any other local financial. We offered some great CD specials and set new records for Net Income. We also got a brand-new parking lot! The first quarter of 2024 has officially ended. We welcomed a familiar face back to the credit union: Dennis, who returned to help us out as a part-time Teller. We are excited to have him back and encourage you all to stop in or call to say “HI.” With a strong staff and Board of Directors, we are excited to see where 2024 takes us. Cedar Rapids is one of the most competitive cities when it comes to choices for financial needs. There are large banks and credit unions everywhere that are easily accessible. I recognize that our members have many choices when it comes to where they do their financial business. I would like to thank each of our members for choosing Quaker Oats Credit Union for your financial needs. On behalf of the staff and Board of Directors, we are so grateful. Respectfully submitted, Heather Lemke, CEO |
