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Orion Federal Credit Union

Overview / Commentary
400 Monroe Ave
Memphis, TN 38103

Orion Federal Credit Union is headquartered in Memphis and is the 7th largest credit union in the state of Tennessee. It is also the 368th largest credit union in the nation. It was established in 1957 and as of March of 2019, it had grown to 197 employees and 71,821 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 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.

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.



Health Grade Components

NCUA #24831
Year Chartered1957
Primary Regulator
Profit Margin
Return on Assets - YTD1.29%
Return on Equity - YTD10.79%
Annual Interest Income$8.4MM
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$867.9MM$774.0MM
LoansQ1 2019vs Q1 2018$710.2MM$661.4MM
DepositsQ1 2019vs Q1 2018$741.4MM$658.4MM
Equity CapitalQ1 2019vs Q1 2018$100.5MM$90.2MM
Loan Loss AllowanceQ1 2019vs Q1 2018$3.7MM$3.1MM
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$2.2MM$1.5MM
Real Estate OwnedQ1 2019vs Q1 2018$119.00K$0
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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

0.25%--IRA Share Account
0.05%--Miscellaneous Shares
0.05%--Christmas Club
0.05%--Primary Share Accounts

Orion Federal Credit Union Money Market Rates

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

4.00%*-$30kPremium Checking
OTHER TIERS: 0.05% $30k+
0.05%--Orion Checking

Orion Federal Credit Union CD Rates

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

Orion Federal Credit Union IRA Rates

2.35%$500-60 Month IRA
2.25%$500-36 Month IRA
2.15%$500-24 Month IRA
1.85%$500-12 Month IRA

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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