Quorum Federal Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 1.10% | Savings | HighQ 1.20% - Ally Bank Online Savings Account |
| 1.55% | 2-year CD | 25 Month Term Savings CD |
| 1.35% | 1-year CD | 11 Month Term Savings CD 1.50% - Ally Bank No Penalty 11-Month CD |
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 327th largest credit union in the nation. It was established in 1977 and as of June of 2017, it had grown to 115 employees and 81,951 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 in Quorum Federal Credit Union is open to anyone through the American Consumer Council. Membership is also open to employees, retirees, and associates of BASF Corporation, Diamond Resorts International, The Kraft Heinz Company and its subsidiaries, and over 70 other Select Employer Groups.
See current membership details
Related Posts
9/8 - Quorum FCU Raises APY On High Q Savings To 1.1%
9/8 - Quorum FCU Raises APY On High Q Savings To 1.1%
1/17 - $300 Checking Account Bonus At Quorum Federal Credit Union
6/15 - Quorum FCU Continues To Offer Competitive CDs
5/16 - Quorum FCU Has Competitive 13- And 17-Month CDs
8/20 - Quorum FCU Offering 11-Month CD At 1.10%, 16-Month At 1.25%
4/13 - Highq Savings Rate Drops From 1.15% To 1%
3/30 - Quorum FCU Introduces Competitive 11-month CD
2/25 - Quorum FCU Introduces New, Top Rate 15-month Term Account (CD)
2/25 - 1.65% APY On 15 Mth CD At Quorum FCU
2/8 - Quorum FCU 13-Month (1.25%APY) and 36-Month (1.5%APY)CDs
10/7/14 - Quorum FCU Has Discontinued 25 Mth 1.50 APY CD
6/8/14 - .90% APY 9 Mth CD At Quorum FCU. Easy To Join
6/4/14 - New 25-Month CD Rate Special at Quorum Federal Credit Union
6/3/14 - 1.50% APY 25 Mth CD At Quorum FCU. Easy To Join
5/18/14 - Highq Saving Account At Quorum Federal Credit Union 1.05%
4/2/14 - 13-Month CD Special with a Top Rate at Quorum FCU - Easy Membership
3/8/10 - 2.00% 11-Month CD at Quorum FCU in New York - Easy Membership
Unprofessional And Long Wait Times
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
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.
RATE BATE AND SWITCH
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
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
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
They seem to take pleasure in messing with your money.
Data as of Q2 2017
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 22769 |
| Year Chartered | 1977 |
| Employees | 115 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.61% |
| Return on Equity - YTD | 8.53% |
| Annual Interest Income | $20.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2017vs Q2 2016 | $874.1MM$940.4MM |
| Loans | Q2 2017vs Q2 2016 | $736.6MM$838.2MM |
| Deposits | Q2 2017vs Q2 2016 | $792.2MM$846.6MM |
| Equity Capital | Q2 2017vs Q2 2016 | $64.7MM$63.8MM |
| Loan Loss Allowance | Q2 2017vs Q2 2016 | $28.9MM$21.0MM |
| Unbacked Noncurrent Loans | Q2 2017vs Q2 2016 | $49.6MM$30.0MM |
| Real Estate Owned | Q2 2017vs Q2 2016 | $602.00K$210.00K |
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 Federal Credit Union Raises 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%
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.
Quorum FCU Raises APY On High Q Savings To 1.1%
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.
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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 1.10% | - | - | HighQ | ||
| 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 | ||
| 0.05% | - | - | Name-Your-Own-Savings | ||
Quorum Federal Credit Union Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.25%* | $20k* | - | QChoice Checking | ||
| OTHER TIERS: 0.10% → Up to $20k | |||||
| 0.10% | - | - | Checking Rewards | ||
Quorum Federal Credit Union CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 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 Office | 1701 W Bradley Ave | Champaign, IL 61821-2201 |
| Branch Office | 4 Parkway N Suite 400 | Deerfield, IL 60015-2542 |
| Branch Office | 100 DeForest Ave | East Hanover, NJ 07936-2813 |
| Branch Office | 636 11th Ave | New York, NY 10036 |
| Branch Office | 2500 Westchester Ave Ste 411 | Purchase, NY 10577-2587 |