Overview / Commentary
901-385-5200
7845 US Highway 64
Memphis, TN 38133-4007

Orion Federal Credit Union is headquartered in Memphis and is the 7th largest credit union in the state of Tennessee. It is also the 376th largest credit union in the nation. It was established in 1957 and as of December of 2018, it had grown to 194 employees and 76,974 members at 10 locations. Orion Federal Credit Union's CD rates are 2X the national average, and it boasts an A+ health rating.

Field of Membership Restrictions

Membership in Orion Federal Credit Union is open to anyone through volunteering to donate $10 to one of five organizations through the credit union: Habitat for Humanity Greater Memphis, Hope House, Porter-Leath, Ronald McDonald House, and Wolf River Conservancy. Membership is also open to residents of Shelby, Tipton, and Fayette Counties in Tennessee; Desoto and Marshall Counties in Mississippi; and Crittendon and Mississippi Counties in Arkansas (membership details are listed in the credit union's online application).
See current membership details

Related Posts

Orion Federal Credit Union Premium Checking Nationally Available - 2/14/2019

Orion Federal Credit Union's (Tennessee) nationally available Premium Checking account now earns 4.00% APY on qualifying balances up to $30k.

4% APY On Checking Up To $30,000 Nationwide - 2/11/2019

https://orionfcu.com/checking/#premiumchecking This is available nationwide per CSR and if you continue to end of eligibility there is option to select from dropdown list organizations that you can choose to donate $10.00 that meets their requirements. There are qualifying activities noted at link above, basically 8 debit card transactions without pin and electronic deposits totaling $500 each month.

Orion Federal Credit Union Premium Checking Now Earns 4.00% APY - 12/26/2018

Orion Federal Credit Union (AR/MS/TN) has raised the rate on its Premium Checking to 4.00% APY and increased the qualifying balance cap to $30k.

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Reviews (7)

Great Credit Union

Posted by: RonJ | Dec 11, 2018

Was able to sign up for a membership even though I live in California, they even paid the fee required to do so.

Signed up for a 4% Premier Checking account on up to $30,000 and then signed up for another 4% Premier Checking account for another $30,000.

Only downside was that when you open the first account, it is an Equifax hard pull though the second account does not have a hard pull if you open it within 60 days of opening the first account.

Overall an easy way to make $2400 a year risk free and only have to use my debit card 16 times in any amount (8 per account) and transfer $500 to each account monthly (and that can be withdrawn immediately.

Orion FCU is great!

I highly recommend Orion Federal Credit Union. When I originally joined it was known as the Memphis Teacher's Area Credit union and it was the first banking institution I used. I have been very pleased with their service over the years. Internet banking with Orion is decent but not as versatile as it would be with one of the major banks. I do not use it as much as I have previously now that I am no longer in the Memphis area but I would highly recommend it anyone that lives there. Most of my experiences come from the Hacks Cross location but I have had a great experience with several other branches that I visited over the years.

VERY STRICT Qualifications

Posted by: mrdance123 | Mar 4, 2019

Do not waste a HARD equifax credit pull on this credit union. My score is over 800 and I was turned down. I suffered a Hard pull for nothing.

CALL THEM FIRST before applying. Find out what the qualification thresholds are. WILL THEY TELL YOU ?? They would not tell me.

Equifax
ChexSystems
Too many recent applications?

This Bank Has No Digital Security In Place

Posted by: daisuke | Feb 22, 2019

I opened an account here. I had access to the account for a few days and then could not login. It is difficult to reach them by phone but finally got through. They told me the account was locked because I had not sent in copies of my driver's license, SS card, and proof of address. I told them no one had asked me to. They said that this was how the tell you - when you call about your locked account! They want you to email digital copies of these documents in color as attachments. I explained that this was not secure and exposed the sender to identity theft. They remained adamant. I am reporting the to the NCUA, National Credit Union Association. Any bank which does not understand that email attachments are not secure clearly has no one there to ensure their online system is secure. If you have an account here, you should close it. It is a disaster waiting to happen.

Worst Credit Union I Have Ever Worked With!!

Posted by: mpharris1 | Oct 31, 2018

I would give them Zero stars if the system would allow it. This is the worst credit union I have ever had my money with.

Deposit sitting there ready to hit and they charged me over $300 in fees. I am beyond disgusted with this credit union.

DO NOT USE THEM - unless you want them to suck your bank account dry with their BS fees.

Bank In The Stone Age

Posted by: SRB | Sep 12, 2015

They use the ATM's of twenty years ago (i.e., if you make an ATM deposit, you must use an envelope, even if it's cash,and it takes two days to clear; this has caused extreme problems for me as a contract worker, because I don't have direct deposit). There is no real local representation at this institution "after hours" (I almost called it a bank, for it behaves very nearly to one). After hours, you're sent to the Philippines, or some other foreign country.

The tellers are nice enough, but I met with a branch manager, and as she was talking to me, she was looking away. I was really surprised at her unprofessionalism, not to mention her poor grammar. Lastly, I have been on hold for 45 minutes as I write this, trying to report a lost debit card. Any real institution would make security a top priority. As it stands, this place calls itself a Credit Union, but there is no unity. On a corporate level, they couldn't care less about their customers.

Addendum: the operator just answered, from a 3rd party company who actually "closes down" (his words, in broken English) cards that are lost or stolen. His only job is to deactivate the card, not to issue a replacement (by asking for my personal information: really??). He just said I'd have to call Orion about this Monday. Funny, I dialed Orion's phone number tonight. I guess I wasn't talking to them.

They Get One Star Because I Cannot Give Them Fewer

Posted by: kevmlong | Jul 26, 2012

Suffice to say that this credit union has made it nearly impossible for me to make payments on my educational line of credit by not providing me with a convenient and reasonable way to make payments on the loan since I moved out of state. The employees are unhelpful and unwilling. STAY AWAY! There are much better credit unions out there.



Health
A+

Health Grade Components

Overall
NCUA #24831
Year Chartered1957
Employees194
Primary Regulator
Profit Margin
Return on Assets - YTD1.37%
Return on Equity - YTD11.36%
Annual Interest Income$30.4MM
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$807.7MM$715.2MM
LoansQ4 2018vs Q4 2017$701.5MM$626.4MM
DepositsQ4 2018vs Q4 2017$680.0MM$606.5MM
Equity CapitalQ4 2018vs Q4 2017$97.8MM$83.9MM
Loan Loss AllowanceQ4 2018vs Q4 2017$3.8MM$3.5MM
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$3.1MM$1.7MM
Real Estate OwnedQ4 2018vs Q4 2017$59.00K$0
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

4% APY On Checking Up To $30,000 Nationwide

timnok   |  
https://orionfcu.com/checking/#premiumchecking

This is available nationwide per CSR and if you continue to end of eligibility there is option to select from dropdown list organizations that you can choose to donate $10.00 that meets their requirements.

There are qualifying activities noted at link above, basically 8 debit card transactions without pin and electronic deposits totaling $500 each month.

Rates
Report an Issue

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

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Orion Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%--IRA Share Account
0.05%--Miscellaneous Shares
0.05%--Christmas Club
0.05%--Primary Share Accounts
0.05%--Primary Business Share (Savings)

Orion Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*$100k*-Business Money Market
OTHER TIERS: 0.01% Up to $10k | 0.20% $10k - $25k | 0.30% $25k - $50k | 0.40% $50k - $100k
0.25%*$100k*-Money Market
OTHER TIERS: 0.01% Up to $10k | 0.05% $10k - $25k | 0.10% $25k - $50k | 0.20% $50k - $100k

Orion Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.00%*-$30kPremium Checking
OTHER TIERS: 0.05% $30k+
1.00%-$100kPremium Business Checking
1.00%-$500kPremium Business Checking w/ Relationship
0.05%--Orion Checking

Orion Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.35%$500-60 Month CD
2.35%$500-Business 60 Month CD
2.30%$500-48 Month CD
2.30%$500-Business 48 Month CD
2.25%$500-36 Month CD
2.25%$500-Business 36 Month CD
2.15%$500-24 Month CD
2.15%$500-Business 24 Month CD
1.85%$500-12 Month CD
1.85%$500-Business 12 Month CD
1.25%$500-6 Month CD

Orion Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.35%$500-60 Month IRA
2.25%$500-36 Month IRA
2.15%$500-24 Month IRA
1.85%$500-12 Month IRA
Locations


Cities: Collierville, Cordova, Memphis

Collierville Branches
Branch Office310 New Byhalia RdCollierville, TN 38017-3706

Cordova Branches
Branch Office335 S Walnut Bend RdCordova, TN 38018-7216

Memphis Branches
Branch Office3118 Covington PikeMemphis, TN 38128-5016
Branch Office7845 US Highway 64Memphis, TN 38133-4007
Branch Office7960 Lowrance RdMemphis, TN 38125-2831
Branch Office3155 Millbranch RdMemphis, TN 38116-1917
Branch Office4805 American WayMemphis, TN 38118-2412
Branch Office641 S White Station RdMemphis, TN 38117-4510
Branch Office1975 Union AveMemphis, TN 38104-4030
Branch Office821 Poplar AveMemphis, TN 38105-4525

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.