Quorum Federal Credit Union

Overview / Commentary
2500 Westchester Ave
Purchase, NY 10577

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 411th largest credit union in the nation. It was established in 1977 and as of June of 2021, it had grown to 153 employees and 65,972 members at 1 location. Quorum Federal Credit Union has a B+ health rating.

Field of Membership Restrictions

Quorum Federal Credit Union 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 Federal Credit Union Adds Nationally Available 30-Month CD - 8/18/2021

Quorum Federal Credit Union (easy membership) has added a 30-month Term Savings Account (CD) that offers a very competitive rate. Minimum deposit is $1k of new money.

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Have Been Happy With Them For Over 10 Years.

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I've been very happy at Quorum for over 10 years. I have my mortgage with them, no fee checking, and they almost always have a market leading savings product. Glad to be a member.

Great Credit Union With Great Service

Posted by: |

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

Quorum Difficult, Cancelled My Deposit

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Opened money mkt account, linked a bank account, tried to transfer funds, they cancelled my transfer. Then, they needed a copy of my bank stmt from the transfer account. Supplied that, now they are "reaching out" to the bank, I guess to confirm I didn't provide a phony bank statement. All of this so I can deposit funds INTO their institution. SO LUCKY I'm not trying to borrow from them. Imagine that.

Don't Just Run, Run And HIDE!

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I have never experience anything like it...Signed a contract for a set amount of Interest, only to be charge 1.5% higher! Then EVERY principle payment I made went to INTEREST.
I called and after 45 minutes on hold and being shifted to 3 different people I was told I had to specify I wanted my payment to go to PRINCIPLE. Really, duh, you think? You think I didn't do that?Like I want to pay extra interest, who does that?
I refinanced and got out after one year, but I had made extra payments the whole time, MY PRINCIPLE NEVER WENT DOWN....As soon as I paid off account they LOCKED ME OUT, I can't get any statements for taxes! These people are CROOKS. I wrote them a letter asking them for an itemized list of all payments and how they applied them.....They never responded, so I am now sending a formal complaint to the NCUA, the State Regulators and the BBB. I just wonder how many more people they are ripping off.



Health Grade Components

NCUA #22769
Year Chartered1977
Primary Regulator
Profit Margin
Return on Assets - YTD1.19%
Return on Equity - YTD16.64%
Annual Interest Income$19.5MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$955.8MM$871.4MM
LoansQ2 2021vs Q2 2020$776.0MM$686.7MM
DepositsQ2 2021vs Q2 2020$867.8MM$801.8MM
Equity CapitalQ2 2021vs Q2 2020$68.5MM$61.6MM
Secondary CapitalQ2 2021vs Q2 2020$6.0MM
Loan Loss AllowanceQ2 2021vs Q2 2020$22.5MM$30.5MM
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$20.0MM$37.1MM
Real Estate OwnedQ2 2021vs Q2 2020$0$200.00K
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Always verify rates and promotions with the bank or credit union. We are not Quorum 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.

Quorum Federal Credit Union Savings Account Rates

0.10%*$100k*-IRA Savings
OTHER TIERS: 0.01% Up to $25k | 0.05% $25k - $100k
0.01%$5-Basic Savings
0.01%--Holiday Club

Quorum Federal Credit Union Money Market Rates

0.25%*$250k*-Money Management
OTHER TIERS: 0.01% Up to $25k | 0.10% $25k - $100k | 0.20% $100k - $250k

Quorum Federal Credit Union Checking Account Rates

0.05%*$20k*-QChoice Checking
OTHER TIERS: 0.01% Up to $20k
0.01%--Checking Rewards

Quorum Federal Credit Union CD Rates

1.00%$1k-30 Month Term Savings CD - New Money
0.65%$1k-60 Month Term Savings CD
0.60%$1k-13 Month Term Savings CD - New Money
0.55%$1k-48 Month Term Savings CD
0.50%$1k-36 Month Term Savings CD
0.45%$1k-24 Month Term Savings CD
0.40%$1k-12 Month Term Savings CD
0.40%$1k-18 Month Term Savings CD
0.25%$1k-6 Month Term Savings CD
0.01%$1k-3 Month Term Savings CD

Quorum Federal Credit Union IRA Rates

1.00%$1k-30 Month IRA Term Savings - New Money
0.65%$1k-60 Month IRA Term Savings
0.60%$1k-13 Month IRA Term Savings - New Money
0.55%$1k-48 Month IRA Term Savings
0.50%$1k-36 Month IRA Term Savings
0.45%$1k-24 Month IRA Term Savings
0.40%$1k-12 Month IRA Term Savings
0.40%$1k-18 Month IRA Term Savings
0.25%$1k-6 Month IRA Term Savings
0.01%$1k-3 Month IRA Term Savings

Quorum Federal Credit Union Locations
Branch Office2500 Westchester Ave Ste 411Purchase, NY 10577-2587

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