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Orion Federal Credit Union

Popular Accounts at this Credit Union

3.00%Reward CheckingPremium Checking
1.85%5-year CD60 Month Share Certificate
1.15%1-year CD12 Month Share Certificate

Overview / Commentary
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 406th largest credit union in the nation. It was established in 1957 and as of September of 2017, it had grown to 170 employees and 66,568 members at 10 locations. Orion Federal Credit Union's CD rates are 28% higher than the national average, and it boasts an A+ health rating.

Field of Membership Restrictions

Membership in Orion Federal Credit Union is 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).
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Reviews (3)

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.

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 Grade Components

NCUA #24831
Year Chartered1957
Primary Regulator
Profit Margin
Return on Assets - YTD1.35%
Return on Equity - YTD11.65%
Annual Interest Income$17.7MM
Assets and Liabilities
AssetsQ3 2017vs Q3 2016$703.4MM$636.4MM
LoansQ3 2017vs Q3 2016$612.7MM$512.9MM
DepositsQ3 2017vs Q3 2016$597.1MM$543.4MM
Equity CapitalQ3 2017vs Q3 2016$81.0MM$71.6MM
Loan Loss AllowanceQ3 2017vs Q3 2016$3.6MM$4.2MM
Unbacked Noncurrent LoansQ3 2017vs Q3 2016$1.6MM$2.0MM
Real Estate OwnedQ3 2017vs Q3 2016$36.00K$110.00K
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* 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: 0.05% $10k - $25k | 0.10% $25k - $50k | 0.20% $50k - $100k

Orion Federal Credit Union Checking Account Rates

3.00%*-$20kPremium Checking
OTHER TIERS: 0.05% $20k+
0.05%--Orion Checking

Orion Federal Credit Union CD Rates

1.85%$500-60 Month Share Certificate
1.60%$500-48 Month Share Certificate
1.50%$500-36 Month Share Certificate
1.45%$500-24 Month Share Certificate
1.15%$500-12 Month Share Certificate
0.90%$500-6 Month Share Certificate

Orion Federal Credit Union IRA Rates

1.85%$500-60 Month IRA Share Certificate
1.30%$500-36 Month IRA Share Certificate
1.25%$500-24 Month IRA Share Certificate
1.00%$500-12 Month IRA Share Certificate

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