2. Quorum Federal Credit Union

Quorum Federal Credit Union

Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
2.35%2-year CD25 Month Term Savings CD
2.50% - Ally Bank Raise Your Rate 2-Year CDAdvertisement
2.25%1-year CD11 Month Term Savings CD
2.45% - Synchrony Bank 12 Month CDAdvertisement
2.35%2-year IRA25 Month IRA Term Savings (Traditional, Roth)
1.38% - National Average
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 23rd largest credit union in the state of New York. It is also the 368th largest credit union in the nation. It was established in 1977 and as of June of 2018, it had grown to 127 employees and 87,663 members at 4 locations. Quorum Federal Credit Union's savings rates are 3X the national average, and it has a C+ health rating.

Field of Membership Restrictions

Membership is open to anyone through the American Consumer Council. Membership is also open to employees of Kraft Heinz Company and other organizations. (Membership requirements are listed in the online application.)
See current membership details

Related Posts

Quorum FCU (Easy Membership) 60-Month CD Joins "3 for 5 Club" - 3/23/2018

Quorum FCU (easy membership) has added 145 bps to its 60-month Term Savings Account (3.00% APY, min $1k deposit). Deposits of $100k+ earn 3.10% APY.

3.00% APY, 60 Mths CD, $1,000 Minimum. Regular & IRA. Easy Membership. - 3/23/2018

Quorum is now promoting 60 month term, in addition to 11 (2.00%) and 25 (2.25%) month. EWP on 60 months regular is dividends earned, not to exceed 180 days. IRA Premature Withdrawal Penalty is $25. https://www.quorumfcu.org/rates

Quorum FCU (Easy Membership) Ups 11-Month CD - 2/13/2018

Quorum FCU (easy membership) has raised the rates on its 11-month CD (2.00% APY) and 25-month CD (2.25% APY). Minimum deposit is $1k, with no stated balance cap.

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Reviews (8)

Great Credit Union With Great Service

Posted by: JLDV1018 | Feb 12, 2018

I consistently get great service from their reps and they seem to really care about my financial needs.

3

NO RESPECT

Posted by: johnleonard | Mar 20, 2018

Terribly rude and offensive process in actually trying to give them business. New to the area so I inquired about opening an account and services provided and was met with discriminatory questions to funnel out what type of customer I would be, and therefore the type of service I would receive. Stay away from this place.

9

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.

24

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.

22

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.

26

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.

20

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

13

Horrible Stay Away

Posted by: Jeffed | Apr 11, 2016

They seem to take pleasure in messing with your money.

27


Health
C+

Data as of Q2 2018

Learn why bank health matters

Health Grade Components

Overall
NCUA #22769
Year Chartered1977
Employees127
Primary Regulator
Profit Margin
Return on Assets - YTD-0.12%
Return on Equity - YTD-1.57%
Annual Interest Income$21.7MM
Assets and Liabilities
AssetsQ2 2018vs Q2 2017$829.0MM$874.1MM
LoansQ2 2018vs Q2 2017$702.5MM$736.6MM
DepositsQ2 2018vs Q2 2017$756.8MM$792.2MM
Equity CapitalQ2 2018vs Q2 2017$62.8MM$64.7MM
Loan Loss AllowanceQ2 2018vs Q2 2017$32.9MM$28.9MM
Unbacked Noncurrent LoansQ2 2018vs Q2 2017$41.3MM$49.6MM
Real Estate OwnedQ2 2018vs Q2 2017$949.00K$602.00K
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
1.75%--HighQ
0.40%*$100k*-IRA Savings
OTHER TIERS: 0.05% → Up to $2.5k | 0.10% → $2.5k - $10k | 0.20% → $10k - $25k | 0.30% → $25k - $100k
0.05%$5-Basic Savings
0.05%--Holiday Club
0.05%--Name-Your-Own-Savings

Quorum Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%*$250k*-Money Management
OTHER TIERS: 0.05% → Up to $2.5k | 0.10% → $2.5k - $10k | 0.20% → $10k - $25k | 0.65% → $25k - $100k | 0.85% → $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
3.00%$1k-60 Month Term Savings CD
3.00%$1k-30 Month Term Savings CD
2.35%$1k-25 Month Term Savings CD
2.25%$1k-11 Month Term Savings CD
1.40%$1k-48 Month Term Savings CD
1.25%$1k-24 Month Term Savings CD
1.25%$1k-36 Month Term Savings CD
1.10%$1k-18 Month Term Savings CD
1.00%$1k-12 Month Term Savings CD
0.50%$1k-6 Month Term Savings CD
0.25%$1k-3 Month Term Savings CD

Quorum Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%$1k-60 Month IRA Term Savings
3.00%$1k-30 Month IRA Term Savings
2.35%$1k-25 Month IRA Term Savings
2.25%$1k-11 Month Term Savings IRA
1.40%$1k-48 Month IRA Term Savings
1.25%$1k-24 Month IRA Term Savings
1.25%$1k-36 Month IRA Term Savings
1.10%$1k-18 Month IRA Term Savings
1.00%$1k-12 Month IRA Term Savings
0.50%$1k-6 Month IRA Term Savings
0.25%$1k-3 Month IRA Term Savings
Locations


Quorum Federal Credit Union Locations
Branch Office4 Parkway North Blvd 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

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