Orion Federal Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | HOW THEY COMPARE |
|---|---|---|
| 4.00% | Reward Checking | 2.09% - National Average |
| 2.35% | 5-year CD | |
| 1.85% | 1-year CD | 1.30% - National Average |
Orion Federal Credit Union is headquartered in Memphis and is the 7th largest credit union in the state of Tennessee. It is also the 374th largest credit union in the nation. It was established in 1957 and as of September of 2018, it had grown to 209 employees and 77,217 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 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
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| Featured Account Options | SPONSORED LISTINGS | ||||
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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to use my debit card 16 times in any amount (8 per account) and transfer $500 to each account monthly (and that can be withdrawn immediately.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.
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 | 209 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.62% |
| Return on Equity - YTD | 13.41% |
| Annual Interest Income | $22.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2018vs Q3 2017 | $810.5MM$703.4MM |
| Loans | Q3 2018vs Q3 2017 | $722.6MM$612.7MM |
| Deposits | Q3 2018vs Q3 2017 | $656.9MM$597.1MM |
| Equity Capital | Q3 2018vs Q3 2017 | $96.4MM$81.0MM |
| Loan Loss Allowance | Q3 2018vs Q3 2017 | $3.4MM$3.6MM |
| Unbacked Noncurrent Loans | Q3 2018vs Q3 2017 | $2.8MM$1.6MM |
| Real Estate Owned | Q3 2018vs Q3 2017 | $65.00K$36.00K |
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
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
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 |