Two Topeka, Kan., credit unions that will merge this month have selected Quest as their new name, creating the state's fifth largest CU with $225 million in assets.
In picking the moniker, management said it sought out a brand that reflects “a search for a name that would bond the two organizations ?together and speak to their shared pursuit of excellent member and ?product service.”
In an unusual twist, Quest is operating with co-presidents/CEOs, Gary Colcher and Vickie Hurt.
Hurt is the current president of Credit Union 1 and Colcher leads Credit Unions United.
In a statement, Hurt said, “Both Gary and I have a long history of leading financial institutions and credit union organizations and we have a great mutual respect for one another and our leadership skills.”
Their experience and job qualities, she said, complement each other and will work together to make the consolidation successful.
“We sincerely value what the other brings to the table,” said Hurt, noting that Credit Union 1 of Kansas has a history of co-managers dating back from 1984 to 1994 when Gary Winkler and Ray Parks “worked in a successful dual management system.”
“In terms of how we manage, we simply share our opinions and experiences,” she said. “We jointly make a decision, or like any partnership, we compromise.”
Regarding the Quest branding, the CUs' merger statement said the new name encourages members and staff “to discover the possibilities.”
Based on interviews, survey and focus group research, “We discovered that everyone associated with our credit unions wants us to stay focused on the qualities that have made us successful,” Hurt said.
She also noted that the merging CUs are “healthy, well-capitalized and with strong membership bases, so the consolidation wasn't required.”
The two CUs had received regulatory approval to combine in October 2009 with a membership vote in early November. Quest CU will be serving members reaching from Topeka to communities in eastern Kansas. In addition to three branches and two service centers in Topeka, Quest has offices in Fort Riley, Pittsburg and Shawnee.
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