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Quorum Federal Credit Union


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 369th largest credit union in the nation. It was established in 1977 and as of March of 2019, it had grown to 124 employees and 75,098 members at 4 locations. Quorum Federal Credit Union's savings rates are 4X the national average, and it has a B 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

HighQ Savings Account Now 2.05% APY - 1/31/2019

Quorum raised the rate on its HighQ Savings account to 2.05% APY on all balances. Not the most competitive rate around, but it's the first rate increase in about 18 months.

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Reviews (9)

Have Been Happy With Them For Over 10 Years.

Posted by: Yuki222 | Feb 27, 2019

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: JLDV1018 | Feb 12, 2018

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: 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.

26

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.

12
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Health
B

Data as of Q1 2019

Learn why bank health matters

Health Grade Components

Overall
NCUA #22769
Year Chartered1977
Employees124
Primary Regulator
Profit Margin
Return on Assets - YTD1.21%
Return on Equity - YTD17.67%
Annual Interest Income$11.0MM
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$866.2MM$867.4MM
LoansQ1 2019vs Q1 2018$684.3MM$728.2MM
DepositsQ1 2019vs Q1 2018$794.7MM$786.8MM
Equity CapitalQ1 2019vs Q1 2018$57.6MM$60.5MM
Loan Loss AllowanceQ1 2019vs Q1 2018$35.4MM$33.5MM
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$36.4MM$42.7MM
Real Estate OwnedQ1 2019vs Q1 2018$850.00K$553.00K
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
1.95%--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
2.50%$1k-12 Month Term Savings CD
2.50%$1k-24 Month Term Savings CD
2.25%$1k-36 Month Term Savings CD
2.25%$1k-48 Month Term Savings CD
2.00%$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
3.00%$1k-60 Month IRA Term Savings
2.50%$1k-12 Month IRA Term Savings
2.50%$1k-24 Month IRA Term Savings
2.25%$1k-36 Month IRA Term Savings
2.25%$1k-48 Month IRA Term Savings
2.00%$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 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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