Orion Federal Credit Union is headquartered in Memphis and is the 7th largest credit union in the state of Tennessee. It is also the 381st largest credit union in the nation. It was established in 1957 and as of March of 2025, it had grown to 171 employees and 67,682 members at 11 locations. Orion Federal Credit Union's CD rates are 4X the national average, and it has 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
Rejected By A Robot
I got to the very last page of the application and was given a Notice of Adverse Action. Supposedly they rejected me based on my Equifax or Chex Systems reports. That's funny - I monitor those frequently, and there's nothing wrong with them. The letter says to call, so I called, and they told me to email. I emailed and they repeated the same thing that the letter says. It's possible their robot didn't like my credit freeze. If so, it should be programmed to state that as the reason. I'd love to know who qualifies to join their elite club!
Customer Service
As customer service sets a new low-Orion is well below that.Been holding for 1.5 hours. For a company that has someone else collect their mortgage payments and insurance you would think they would be able to hire at least 2 people to answer phones. Pathetic! One call ahead of me for last 40 min.
They Should Just Call Themselves A Bank.
They have very strict rules, and will charge penalties for not following them. They will even put your account in the negative, and hit you with an overdraft fee. Negative to them is less than $25. This is the worst credit union I ever had. The other reviews also show why you should stay away.
Bad Buisness
We get a call from collections stating we owe them an extra payment for our truck. They allocated our payment to our other account. We have proof and they defrauded us. They won't even let us talk to a manager. "A manager won't be able to help you." These people have stolen a truck payment from us. We are reporting them you should stay away from doing buisness with crooks.
Data as of Q1 2025
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24831 |
| Year Chartered | 1957 |
| Employees | 171 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.22% |
| Return on Equity - YTD | 2.05% |
| Annual Interest Income | $14.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $1.25B$1.27B |
| Loans | Q1 2025vs Q1 2024 | $1.01B$969.4MM |
| Deposits | Q1 2025vs Q1 2024 | $992.5MM$1B |
| Equity Capital | Q1 2025vs Q1 2024 | $132.6MM$131.9MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $10.1MM$10.3MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $5.1MM$7.3MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $159K$248K |
