Orion Federal Credit Union


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.

View all posts from:


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.

Bumpy Ride So Far

Signed up for the 4% checking last month. The first thing I noticed is that they are not even set up to provide free checks (as promised on their website). So, you cannot use their web interface to order the free checks -- you must call a representative and do it manually.

The second thing I noticed is that they require SIGNATURE transactions, but their chip-based card does not even allow for signature transactions at most of the businesses that I frequent. My statement shows 3 different types of transactions so far, but none are identified as "SIGNATURE" transactions. I sent them an email to find out which of the transactions (if any) qualify as "SIGNATURE" transactions, and they had no answer. All they did was refer me back to their homepage.

A Little Frustrated With Them

Posted by: Jeanie324 | May 2, 2019

For the 4% Premium Checking their website states: "Perform at least 8 signature-based card transactions It's easy! When using your card, choose the credit option and bypass using your PIN." I've had the account for 2 months and have never entered my pin. I usually use it at McDonalds on my way to work where they swipe my card when I place the order and that's it. The first month I had no problems but this month Orion charged me the $5.00 monthly fee and I received very little interest. When I contacted Orion they stated that I only had 7 debit transactions. When I double checked my statement and saw that I in fact had 8 the customer service rep went through them with me and one of the charges made at McDonalds (The same McDonald's I go to everyday) did not count because they state that McDonalds processed it as a pin based transaction. I explained that I have never entered my pin and they said that they have no control over how the merchant processes the transaction. Well, the only control I, the customer has, is not entering my pin which is what your website instructs me to do. Orion did credit me back the $5.00 but would not do anything about the interest. Instead of the $100.00 I thought I would receive I only received $1.24. The wording on their website is misleading.

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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
Rates
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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

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