Orion Federal Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | HOW THEY COMPARE |
|---|---|---|
| 4.00% | Reward Checking | 1.73% - National Average |
| 2.35% | 5-year CD | |
| 1.85% | 1-year CD |
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
2/11 - 4% APY On Checking Up To $30,000 Nationwide
Great Credit Union
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to use my debit card 16 times in any amount (8 per account) and transfer $500 to each account monthly (and that can be withdrawn immediately.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
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
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!!
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
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
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 Grade Components
| Overall | |
|---|---|
| NCUA # | 24831 |
| Year Chartered | 1957 |
| Employees | 194 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.37% |
| Return on Equity - YTD | 11.36% |
| Annual Interest Income | $30.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2018vs Q4 2017 | $807.7MM$715.2MM |
| Loans | Q4 2018vs Q4 2017 | $701.5MM$626.4MM |
| Deposits | Q4 2018vs Q4 2017 | $680.0MM$606.5MM |
| Equity Capital | Q4 2018vs Q4 2017 | $97.8MM$83.9MM |
| Loan Loss Allowance | Q4 2018vs Q4 2017 | $3.8MM$3.5MM |
| Unbacked Noncurrent Loans | Q4 2018vs Q4 2017 | $3.1MM$1.7MM |
| Real Estate Owned | Q4 2018vs Q4 2017 | $59.00K$0 |
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
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.
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
| APY | MIN | MAX | ACCOUNT NAME | VIEW 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 4.00%* | - | $30k | Premium Checking | ||
| OTHER TIERS: 0.05% → $30k+ | |||||
| 1.00% | - | $100k | Premium Business Checking | ||
| 1.00% | - | $500k | Premium Business Checking w/ Relationship | ||
| 0.05% | - | - | Orion Checking | ||
Orion Federal Credit Union CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW 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 |
| Collierville Branches | ||
|---|---|---|
| Branch Office | 310 New Byhalia Rd | Collierville, TN 38017-3706 |
| Cordova Branches | ||
|---|---|---|
| Branch Office | 335 S Walnut Bend Rd | Cordova, TN 38018-7216 |
| Memphis Branches | ||
|---|---|---|
| Branch Office | 3118 Covington Pike | Memphis, TN 38128-5016 |
| Branch Office | 7845 US Highway 64 | Memphis, TN 38133-4007 |
| Branch Office | 7960 Lowrance Rd | Memphis, TN 38125-2831 |
| Branch Office | 3155 Millbranch Rd | Memphis, TN 38116-1917 |
| Branch Office | 4805 American Way | Memphis, TN 38118-2412 |
| Branch Office | 641 S White Station Rd | Memphis, TN 38117-4510 |
| Branch Office | 1975 Union Ave | Memphis, TN 38104-4030 |
| Branch Office | 821 Poplar Ave | Memphis, TN 38105-4525 |