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Overview / Commentary
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 335th largest credit union in the nation. It was established in 1977 and as of September of 2017, it had grown to 117 employees and 84,287 members at 5 locations. Quorum Federal Credit Union's savings rates are 2X the national average, but 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 10 Mth CD, 1.65% APY, $1K Minimum - 12/13/2017


Quorum Federal Credit Union Raises High Q Savings To 1.10% APY - 10/4/2017

I just noticed that this month, Quorum Federal Credit Union has raised its High Q Savings to 1.10% APY. https://www.quorumfcu.org/rates It had dropped its rate for the past several months to I think it was 0.7%. Good to see it back up again, although I would like to see even higher for savings. For quite a while, it had been staying even with Alliant, but then dropped. This month, Alliant boosted from 1.11% APY to 1.16% APY.

Quorum FCU Raises APY On High Q Savings To 1.1% - 9/8/2017

Quorum FCU today raised its rate on its High Q savings account from 0.7% to 1.1% APY. I just got an e-mail about it. Dang, I finally gave up on them at the turn of this month and just moved my money in my High Q savings elsewhere. They had been at 1% for a long time, but several months ago dropped it twice to 0.7% and stayed there even as so many other places were raising savings rate much higher. I had been watching all these months, but Quorum just sat there at a measly 0.7% -- even as I complained that Alliant had gone to only 1.1%. I finally gave up on Quorum with the turn of this month, and again no rate increase. I moved my money out -- and now just a few days later, they finally come back into the real world -- gee, my money transferred out is still on hold for a couple more days. Too late, my money is getting that much elsewhere so why bother moving it back. If they had not been so slow about it, they could have kept my money.

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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.

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.


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.

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.

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

Horrible Stay Away

Posted by: Jeffed | Apr 11, 2016

They seem to take pleasure in messing with your money.


Health Grade Components

NCUA #22769
Year Chartered1977
Primary Regulator
Profit Margin
Return on Assets - YTD0.07%
Return on Equity - YTD0.91%
Annual Interest Income$31.1MM
Assets and Liabilities
AssetsQ3 2017vs Q3 2016$861.4MM$928.1MM
LoansQ3 2017vs Q3 2016$744.2MM$769.7MM
DepositsQ3 2017vs Q3 2016$768.0MM$858.3MM
Equity CapitalQ3 2017vs Q3 2016$62.4MM$61.7MM
Loan Loss AllowanceQ3 2017vs Q3 2016$34.2MM$26.7MM
Unbacked Noncurrent LoansQ3 2017vs Q3 2016$53.7MM$32.4MM
Real Estate OwnedQ3 2017vs Q3 2016$477.00K$172.00K
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

Quorum 10 Mth CD, 1.65% APY, $1K Minimum

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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

0.40%*$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

Quorum Federal Credit Union Money Market Rates

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

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

Quorum Federal Credit Union CD Rates

1.65%$1k-10 Month Term Account
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

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

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