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Quorum Federal Credit Union


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

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 406th largest credit union in the nation. It was established in 1977 and as of June of 2020, it had grown to 125 employees and 69,578 members at 2 locations. Quorum Federal Credit Union's savings rates are 44% higher than the national average, and it has a C+ 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

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Reviews (9)

Have Been Happy With Them For Over 10 Years.

Posted by: |

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.

2

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.

5

Unprofessional And Long Wait Times

Posted by: |

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.

28

NO RESPECT

Posted by: |

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.

12
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Health
C+

Data as of Q2 2020

Learn why bank health matters

Health Grade Components

Overall
NCUA #22769
Year Chartered1977
Employees125
Primary Regulator
Profit Margin
Return on Assets - YTD0.09%
Return on Equity - YTD1.28%
Annual Interest Income$19.1MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$871.4MM$853.3MM
LoansQ2 2020vs Q2 2019$686.7MM$687.8MM
DepositsQ2 2020vs Q2 2019$801.8MM$776.1MM
Equity CapitalQ2 2020vs Q2 2019$61.6MM$60.9MM
Loan Loss AllowanceQ2 2020vs Q2 2019$30.5MM$30.8MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$37.1MM$30.6MM
Real Estate OwnedQ2 2020vs Q2 2019$200.00K$822.00K
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%--HighQ
0.25%*$100k*-IRA Savings
OTHER TIERS: 0.05% → Up to $2.5k | 0.10% → $2.5k - $10k | 0.15% → $10k - $25k | 0.20% → $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
0.50%*$250k*-Money Management
OTHER TIERS: 0.05% → Up to $2.5k | 0.10% → $2.5k - $10k | 0.20% → $10k - $25k | 0.30% → $25k - $100k | 0.40% → $100k - $250k

Quorum Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%*$20k*-QChoice Checking
OTHER TIERS: 0.05% → Up to $20k
0.05%--Checking Rewards

Quorum Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.35%$1k-60 Month Term Savings CD
1.20%$1k-48 Month Term Savings CD
1.15%$1k-36 Month Term Savings CD
1.10%$1k-24 Month Term Savings CD
0.95%$1k-12 Month Term Savings CD
0.95%$1k-18 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
1.35%$1k-60 Month IRA Term Savings
1.20%$1k-48 Month IRA Term Savings
1.15%$1k-36 Month IRA Term Savings
1.10%$1k-24 Month IRA Term Savings
0.95%$1k-12 Month IRA Term Savings
0.95%$1k-18 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 Office2500 Westchester Ave Ste 411Purchase, NY 10577-2587
Branch Office4 Parkway North Blvd Suite 400Deerfield, IL 60015-2542

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