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  2. Quorum Federal Credit Union

Quorum Federal Credit Union

Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
0.85%SavingsHighQ
1.20% - Goldman Sachs Bank USA Online SavingsAdvertisement
1.55%2-year CD25 Month Term Savings CD
1.65% - Synchrony Bank 24 Month CDAdvertisement
1.35%1-year CD11 Month Term Savings CD
1.40% - Synchrony Bank 12 Month CDAdvertisement
View all Quorum Federal Credit Union rates »

Overview / Commentary
www.quorumfcu.org
914-641-3700
2500 Westchester Ave Ste 411
Purchase, NY 10577-2587

Quorum Federal Credit Union is headquartered in Purchase and is the 22nd largest credit union in the state of New York. It is also the 302nd largest credit union in the nation. It was established in 1977 and as of March of 2017, it had grown to 113 employees and 80,302 members at 5 locations. Quorum Federal Credit Union's savings rates are 63% higher than the national average, but it has a C- health rating.

Field of Membership Restrictions

Membership in Quorum Federal Credit Union is open to anyone through the American Consumer Council. Membership is also open to employees, retirees, and associates of BASF Corporation, Diamond Resorts International, The Kraft Heinz Company and its subsidiaries, and over 70 other Select Employer Groups.
See current membership details

Related Posts

$300 Checking Account Bonus At Quorum Federal Credit Union - 1/17/2017

To qualify for the $300 bonus, a new QChoice checking account must satisfy the following requirements: 10 or more transactions per month for the first three consecutive months or 30 transactions over the first 90-day period, after account opening. Transactions include deposits, withdrawals, check writing, POS transaction, account transfers, ACH direct deposit, and bill payment. The QChoice Account requires enrollment in eStatements and minimum monthly direct deposit(s) totaling $1,000 or minimum average daily balance of $5,000. A $10 monthly fee applies when these requirements are not met. Promotion page http://why.quorumfcu.org/checking-cs/

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Reviews (6)

Unprofessional And Long Wait Times

Posted by: JGordan | Jun 19, 2017

Opened a high yield savings account and when we realized the rate was cut in half we set up a ACH to withdraw the funds. Received a message to contact them. Attempted to call on three separate occasions and could not speak to a human due to long wait times. When we finally got to speak to a person they asked me "what do I plan on doing with my money". This is none of their business! The whole process made me lose days of interest at a higher yield. Will never use this company again.

12

Horrible Service

Posted by: Carlh | May 15, 2017

Had a remaining loan balance of .14 due to misinformation and five dollars in a savings . I asked if they could pay off the loan with the money I had in the savings account. They refused to do it and demanded me to send in a payment. It cost more for the company to send me a bill then collect .14. I asked to speak to a manager and was told none was available. I hope any potential clients are aware of the service you will be receiving.

13

RATE BATE AND SWITCH

Posted by: Rk9977 | Jan 17, 2017

Rate on liquid savings account progressively lowers without any notification. Attempted to speak to a supervisor on two separate occasions and was informed that one was not available.

17

Terrible Customer Service

Posted by: tmdeee | Aug 16, 2016

If you would like to be treated with respect by their management, or want convenient access to YOUR money at ALL times, I don't think you want to deal with them. I am a big believer in credit unions over banks, but I would choose a bank over Quorum any day.

14

Bank Elsewhere

Posted by: Jtttt | Aug 16, 2016

I have been a member since they were Kraft. They do not reinvest in their company. Same problems in the 1990s they are still struggling with in 2016... spent an hour on the phone and they refused to expedite a debit card that has all of my money attached to it. Nearest branch is over 11 miles away

9

Horrible Stay Away

Posted by: Jeffed | Apr 11, 2016

They seem to take pleasure in messing with your money.

24


Health
C-

Data as of Q1 2017

Learn why bank health matters

Health Grade Components

Overall
NCUA #22769
Year Chartered1977
Employees113
Primary Regulator
Profit Margin
Return on Assets - YTD0.82%
Return on Equity - YTD11.77%
Annual Interest Income$10.2MM
Assets and Liabilities
AssetsQ1 2017vs Q1 2016$923.7MM$971.3MM
LoansQ1 2017vs Q1 2016$732.5MM$827.6MM
DepositsQ1 2017vs Q1 2016$850.9MM$896.7MM
Equity CapitalQ1 2017vs Q1 2016$63.7MM$66.0MM
Loan Loss AllowanceQ1 2017vs Q1 2016$27.8MM$14.3MM
Unbacked Noncurrent LoansQ1 2017vs Q1 2016$42.6MM$25.5MM
Real Estate OwnedQ1 2017vs Q1 2016$128.00K$226.00K
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Quorum Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.85%--HighQ
0.40%*$100k*-IRA Savings
OTHER TIERS: 0.05% → Up to $2,500 | 0.10% → $2,500 - $10k | 0.20% → $10k - $25k | 0.30% → $25k - $100k
0.05%--Basic Savings
0.05%--Holiday Club
0.05%--Name-Your-Own-Savings

Quorum Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*$250k*-Money Management
OTHER TIERS: 0.05% → Up to $2,500 | 0.10% → $2,500 - $10k | 0.20% → $10k - $25k | 0.30% → $25k - $100k | 0.40% → $100k - $250k

Quorum Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*$20k*-QChoice Checking
OTHER TIERS: 0.10% → Up to $20k
0.10%--Checking Rewards

Quorum Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.55%$1k-25 Month Term Savings CD
1.35%$1k-11 Month Term Savings CD
1.15%$1k-60 Month Term Savings CD
1.04%$1k-48 Month Term Savings CD
0.90%$1k-36 Month Term Savings CD
0.90%$1k-7 Month Term Savings CD
0.75%$1k-24 Month Term Savings CD
0.50%$1k-18 Month Term Savings CD
0.35%$1k-12 Month Term Savings CD
0.25%$1k-6 Month Term Savings CD
0.15%$1k-3 Month Term Savings CD

Quorum Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.55%$1k-25 Month IRA Term Savings
1.35%$1k-11 Month Term Savings IRA
1.15%$1k-60 Month IRA Term Savings
1.04%$1k-48 Month IRA Term Savings
0.90%$1k-36 Month IRA Term Savings
0.90%$1k-7 Month IRA Term Savings
0.75%$1k-24 Month IRA Term Savings
0.50%$1k-18 Month IRA Term Savings
0.35%$1k-12 Month IRA Term Savings
0.25%$1k-6 Month IRA Term Savings
0.15%$1k-3 Month IRA Term Savings
Locations


Quorum Federal Credit Union Locations
Branch Office1701 W Bradley AveChampaign, IL 61821-2201
Branch Office4 Parkway N Suite 400Deerfield, IL 60015-2542
Branch Office100 DeForest AveEast Hanover, NJ 07936-2813
Branch Office636 11th AveNew York, NY 10036
Branch Office2500 Westchester Ave Ste 411Purchase, NY 10577-2587