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2500 Westchester Ave Ste 411
Purchase, NY 10577-2587

Quorum Federal Credit Union is headquartered in Purchase and is the 21st largest credit union in the state of New York. It is also the 281st largest credit union in the nation. It was established in 1977 and as of March of 2014, it had grown to 115 employees and 65,415 members. Quorum Federal Credit Union's savings rates are 2X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership is open to those associated with a long list of companies and groups at the credit union's eligibility page. One group listed is the Select Savers Club. In the eligibility section of the online application, one of the options is "to join through the following association", and the only association you can select is the Select Savers Club. - See Details

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New 25-Month CD Rate Special at Quorum Federal Credit Union - 6/4/2014

Quorum Federal Credit Union has replaced its 13-month CD special with a 25-month CD special. Like the last special, this new one is very competitive. The new 25-month CD has a 1.50% A PY. Quorum calls ...

13-Month CD Special with a Top Rate at Quorum FCU - Easy Membership - 4/2/2014

Quorum Federal Credit Union is offering a special 1.25% APY 13-month CD (They call it a Term Savings account). Minimum deposit is $1,000. It’s also available as an IRA CD.This is a limited time offer ...

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Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Quorum Federal Credit Union had $8.8 million in non-current loans and owned real-estate with $71.64 million in equity and loan loss allowances on hand to cover it. This gives Quorum Federal Credit Union a Texas Ratio of 12.29% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Quorum Federal Credit Union experienced no significant changes from 11.36% as of March 31, 2013 to 12.29% as of March 31, 2014, resulting in a negative change of 8.17%. This indicates that the balance sheet and financial strength for Quorum Federal Credit Union has had no significant changes in recent periods.

Deposit Growth


In the past year, Quorum Federal Credit Union has increased its total deposits by $41.94 million, resulting in 6.05% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Quorum Federal Credit Union has shown is excellent.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Quorum Federal Credit Union has $820.58 million in assets with $71.64 million in equity, resulting in a capitalization level of 8.73%, which is average.

Institution Statistics

NCUA #22769
Year Chartered1977
Primary Regulator
Assets and Liabilities
Assets$820.58 million
Loans$676.80 million
Deposits$735.34 million
Equity Capital$65.69 million
Loan Loss Allowance$5.95 million
Unbacked Noncurrent Loans$7.93 million
Real Estate Owned$878,000
Historic Data - March 2013
Assets$766.54 million
Equity Capital$63.60 million
Loan Loss Allowance$4.60 million
Unbacked Noncurrent Loans$7.93 million
Real Estate Owned$1.30 million
Profit Margin - Quarterly
Net Interest Margin1.02%
Return on Assets0.18%
Return on Equity2.2%
Interest Income$8.33 million

Always verify rates and promotions with the bank or credit union. We are not Quorum Federal Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Quorum Federal Credit Union Savings Account Rates

0.40%$100k-IRA Savings
0.40%$100k-Roth IRA Savings
0.05%$25-Basic Savings
0.05%--Holiday Club

Quorum Federal Credit Union Money Market Rates

0.50%$250k-Money Management

Quorum Federal Credit Union Checking Account Rates

0.35%$20k-QChoice Checking
0.10%--Checking Rewards

Quorum Federal Credit Union CD Rates

1.50%$1k-25 Month Term Savings CD
1.10%$1k-60 Month Term Savings
1.00%$1k-48 Month Term Savings
0.90%$1k-36 Month Term Savings
0.90%$1k-9 Month Term Savings
0.65%$1k-24 Month Term Savings
0.50%--12 Month MoneyBuilder
0.40%$1k-12 Month Term Savings
0.40%$1k-18 Month Term Savings
0.25%$1k-6 Month Term Savings
0.15%$1k-3 Month Term Savings

Quorum Federal Credit Union IRA Rates

1.50%$1k-25 Month IRA Term Savings
1.10%$1k-60 Month IRA Term Savings
1.00%$1k-48 Month IRA Term Savings
0.90%$1k-36 Month IRA Term Savings
0.90%$1k-9 Month IRA Term Savings
0.65%$1k-24 Month IRA Term Savings
0.50%--12 Month IRA MoneyBuilder
0.40%$1k-12 Month IRA Term Savings
0.40%$1k-18 Month IRA Term Savings
0.25%$1k-6 Month IRA Term Savings
0.15%$1k-3 Month IRA Term Savings

Quorum Federal Credit Union has 14 locations. Click to view all Quorum Federal Credit Union locations.