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2 Manhattanville Rd, Suite 401
Purchase, NY 10577

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 282nd largest credit union in the nation. It was established in 1977 and as of December of 2013, it had grown to 112 employees and 62,106 members. Quorum Federal Credit Union's money market rates are 14% higher than the national average, and it has a B health rating.

Field of Membership Restrictions

Membership Eligibility: Employees/retirees of select companies and affiliated groups (see list). Immediate family of a Credit Union member: spouses, domestic partners, children, siblings, parents, grandparents, grandchildren, step-parents, step-children, step-siblings. Members of the same household (those maintaining a single economic unit): roommates, domestic partners. - See Details

Related Posts

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 Q4 2013

Institution Health


Texas Ratio


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 December 31, 2013 Quorum Federal Credit Union had $8.56 million in non-current loans and owned real-estate with $70.18 million in equity and loan loss allowances on hand to cover it. This gives Quorum Federal Credit Union a Texas Ratio of 12.19% 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 9.85% as of December 31, 2012 to 12.19% as of December 31, 2013, resulting in a negative change of 23.72%. 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 $18 million, resulting in 2.68% 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 above average.



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 $778.9 million in assets with $70.18 million in equity, resulting in a capitalization level of 9.01%, which is average.

Institution Statistics

NCUA #22769
Year Chartered1977
Primary Regulator
Assets and Liabilities
Assets$778.90 million
Loans$660.69 million
Deposits$690.84 million
Equity Capital$64.93 million
Loan Loss Allowance$5.25 million
Unbacked Noncurrent Loans$7.67 million
Real Estate Owned$882,000
Historic Data - December 2012
Assets$746.99 million
Equity Capital$62.39 million
Loan Loss Allowance$4.60 million
Unbacked Noncurrent Loans$7.67 million
Real Estate Owned$285,000
Profit Margin - Quarterly
Net Interest Margin3.94%
Return on Assets0.45%
Return on Equity5.41%
Interest Income$32.06 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

1.25%$1k-13 Month Term Savings
1.10%$1k-60 Month Term Savings
1.00%$1k-48 Month Term Savings
0.90%$1k-36 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

1.25%$1k-13 Month IRA Term Savings (Traditional,Roth)
1.10%$1k-60 Month IRA Term Savings (Traditional,Roth)
1.00%$1k-48 Month IRA Term Savings (Traditional,Roth)
0.90%$1k-36 Month IRA Term Savings (Traditional,Roth)
0.65%$1k-24 Month IRA Term Savings (Traditional,Roth)
0.50%--12 Month IRA MoneyBuilder (Traditional,Roth)
0.40%$1k-12 Month IRA Term Savings (Traditional,Roth)
0.40%$1k-18 Month IRA Term Savings (Traditional,Roth)
0.25%$1k-6 Month IRA Term Savings (Traditional,Roth)
0.15%$1k-3 Month IRA Term Savings (Traditional,Roth)

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