Quorum Federal Credit Union

Quorum Federal Credit Union Locations
2 Manhattanville Road, Suite 401
Purchase, NY 10577
(914)641-3700
www.quorumfcu.org



Quorum Federal Credit Union is headquartered in Purchase and is the 22nd largest credit union in the state of New York. It is also the 287th largest credit union in the nation. It was established in 1977 and as of September of 2011, it had grown to 118 employees and 46,381 members. Quorum Federal Credit Union's CD rates are 11% higher than the national average, and it has a 4-star health rating.

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2.00% 11-Month CD at Quorum FCU in New York - Easy Membership - 3/8/2010

Quorum Federal Credit Union is offering a special 2.00% APY 11-month CD. Minimum deposit is $1,000. The yield is 2.10% APY for a $100,000 minimum deposit. This is a limited time offer that is listed ...



See Rates for: Checking | Savings | Money Market | CD | IRA

Quorum Federal Credit Union Checking Account Rates

ApyMinMaxProduct
0.20%--Checking Rewards Account
0.10%$1,500-Checking Plus Account

Quorum Federal Credit Union Savings Account Rates

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0.50%$100k-IRA Savings
0.50%$100k-Roth IRA Savings
0.10%$25-Basic Savings
0.10%--Holiday Club
0.10%--Name-Your-Own-Savings

Quorum Federal Credit Union Money Market Rates

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0.55%$250k-Money Management

Quorum Federal Credit Union CD Rates

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1.50%$1k-60 Month Term Savings
1.35%$1k-48 Month Term Savings
1.25%$1k-36 Month Term Savings
1.00%$1k-24 Month Term Savings
1.00%--MoneyBuilder
1.00%$1k-10 Month Term Savings
0.65%$1k-18 Month Term Savings
0.50%$1k-12 Month Term Savings
0.30%$1k-3 Month Term Savings
0.30%$1k-6 Month Term Savings

Quorum Federal Credit Union IRA Rates

ApyMinMaxProduct
1.50%$1k-60 Month IRA Term Savings
1.50%$1k-60 Month Roth IRA Term Savings
1.35%$1k-48 Month IRA Term Savings
1.35%$1k-48 Month Roth IRA Term Savings
1.25%$1k-36 Month IRA Term Savings
1.25%$1k-36 Month Roth IRA Term Savings
1.00%$1k-24 Month IRA Term Savings
1.00%--IRA MoneyBuilder
1.00%--Roth IRA MoneyBuilder
1.00%$1k-24 Month Roth IRA Term Savings
1.00%$1k-10 Month IRA Term Savings
1.00%$1k-10 Month Roth IRA Term Savings
0.65%$1k-18 Month IRA Term Savings
0.65%$1k-18 Month Roth IRA Term Savings
0.50%$1k-12 Month IRA Term Savings
0.50%$1k-12 Month Roth IRA Term Savings
0.30%$1k-3 Month IRA Term Savings
0.30%$1k-6 Month IRA Term Savings
0.30%$1k-3 Month Roth IRA Term Savings
0.30%$1k-6 Month Roth IRA Term Savings

Rates updated: 2/11/2012

Data for Q3 2011


Institution Statistics


QUORUM
NCUA #22769
BankRate ReportView
Year Established1977
Employees118
Primary Regulator

Assets and Liabilities

Assets$688.73 million
Loans$477.01 million
Deposits$616.44 million
Equity Capital$60.31 million
Loan Loss Allowance$4.65 million
Unbacked Noncurrent Loans$6.70 million

Historic Data - September 2010

Assets$648.57 million
Equity Capital$58.44 million
Loan Loss Allowance$4.55 million
Unbacked Noncurrent Loans$6.34 million
Real Estate Owned$517,000

Profit Margin - Quarterly

Net Interest Margin3.28%
Return on Assets0.32%
Return on Equity3.7%
Interest Income$21.49 million
Non-Interest Income$4.13 million

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio4
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2011 Quorum Federal Credit Union had $6.7 million in non-current loans and owned real-estate with $64.96 million in equity and loan loss allowances on hand to cover it. This gives Quorum Federal Credit Union a Texas Ratio of 10.32% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Quorum Federal Credit Union held steady from 10.89% as of September 30, 2010 to 10.32% as of September 30, 2011, resulting in a positive change of 5.21%.This indicates that the balance sheet and financial strength for Quorum Federal Credit Union has held steady in recent periods.
Deposit Growth5
In the past year, Quorum Federal Credit Union has increased its total deposits by $44.14 million, resulting in 7.71% 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.
Capitalization3
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 $688.73 million in assets with $64.96 million in equity, resulting in a capitalization level of 9.43%, which is average.
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