Advertising Disclosure
  1. Banks
  2. Quorum Federal Credit Union

Quorum Federal Credit Union


Overview / Commentary
www.quorumfcu.org
914-641-3700
2500 Westchester Ave
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 was established in 1934, and it received a federal charter in 1977. As of September of 2023, it had grown to 146 employees and 68,163 members. Quorum is established as an online-only credit union. Access to banking services is done online at Quorum’s website or via Quorum mobile banking app. The cost savings of not having branches allows Quorum to offer more competitive rates. Its savings rates are 8X the national average.

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 on the credit union's website.)
See current membership details

Related Posts

Quorum Federal Credit Union Debuts Competitive 7-Month CD - 12/22/2023

Quorum Federal Credit Union (easy membership) has added a competitive 7-month CD with tiered APYs ($1k or $100k minimum deposit). New money is required.

Quorum Federal Credit Union Ups 15-Month CD Rate To Competitive Level - 12/14/2023

Quorum Federal Credit Union (easy membership) 15-month CD offers a competitive APY after a 25 bps increase. $1k or $100k min opening deposit . Also available as IRA CDs.

View all posts from:

1/31/19 - HighQ Savings Account Now 2.05% APY
3/23/18 - Quorum FCU (Easy Membership) 60-Month CD Joins "3 for 5 Club"
3/23/18 - 3.00% APY, 60 Mths CD, $1,000 Minimum. Regular & IRA. Easy Membership.
2/13/18 - Quorum FCU (Easy Membership) Ups 11-Month CD
12/13/17 - Quorum 10 Mth CD, 1.65% APY, $1K Minimum
10/4/17 - Quorum Federal Credit Union Raises High Q Savings To 1.10% APY
9/8/17 - Quorum FCU Raises APY On High Q Savings To 1.1%
9/8/17 - Quorum FCU Raises APY On High Q Savings To 1.1%
1/17/17 - $300 Checking Account Bonus At Quorum Federal Credit Union
7/6/16 - Quroum 1.40% 10-Month Term Account Over?
6/15/16 - Quorum FCU Continues To Offer Competitive CDs
5/16/16 - Quorum FCU Has Competitive 13- And 17-Month CDs
8/21/15 - Quorum FCU (Easy Membership) Features 11- And 16-Month CDs
8/20/15 - Quorum FCU Offering 11-Month CD At 1.10%, 16-Month At 1.25%
4/13/15 - Highq Savings Rate Drops From 1.15% To 1%
3/30/15 - Quorum FCU Introduces Competitive 11-month CD
2/25/15 - Quorum FCU Introduces New, Top Rate 15-month Term Account (CD)
2/25/15 - 1.65% APY On 15 Mth CD At Quorum FCU
2/8/15 - Quorum FCU 13-Month (1.25%APY) and 36-Month (1.5%APY)CDs
11/5/14 - Quorum FCU Has Attractive 13- and 36-month CDs - Nationally Available
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

Reviews (22)

Rates And Service

Posted by: |

CD and high-yield savings rates are excellent. Decent service for an on-line only bank.

3

Great Rates

Posted by: |

I've been a member of Quorum for many years. They almost always have great deposit rates and the app is super easy too!

3

This Credit Union Quickly Became My Bank!

Posted by: |

What started with a low-interest first mortgage refinance has turned into a first mortgage, two credit cards, a high yield savings account, fee free checking account and a checking reserve account. I pay all my bills via the online bill payment and even send physical checks from my online checking account to the landscaper and others. Member support is beyond expectation and the mobile app is robust and user friendly. Great work Quorum!

5

24 Mo And 36 Mo CD Dropped To 4.60% APY % 4.85% APY Respectively

Posted by: |

Once a near leader in mid-term CD rates, now like the others: Quorum has dropped below that 5% APY on their 36 mo term.

2
VIEW MORE REVIEWS

Health
C+

Data as of Q4 2023

Learn why bank health matters

Health Grade Components

Overall
NCUA #22769
Year Chartered1977
Employees143
Primary Regulator
Profit Margin
Return on Assets - YTD0.49%
Return on Equity - YTD6.62%
Annual Interest Income$63.3MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$1.09B$1.15B
LoansQ4 2023vs Q4 2022$754.2MM$919.7MM
DepositsQ4 2023vs Q4 2022$960.8MM$1.04B
Equity CapitalQ4 2023vs Q4 2022$80.9MM$88.2MM
Loan Loss AllowanceQ4 2023vs Q4 2022$21.9MM$12.4MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$15.9MM$18MM
Real Estate OwnedQ4 2023vs Q4 2022$281K$0
Rates
Skip to rates for:
Report an Issue

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
4.25%--HighQ Savings
1.70%*$100k*-IRA Savings
OTHER TIERS: 0.45% → Up to $10k | 0.70% → $10k - $25k | 1.20% → $25k - $100k
0.01%$5-Basic Savings
0.01%--Holiday Club
0.01%--Additional Savings

Quorum Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.70%*$250k*-Money Management
OTHER TIERS: 0.45% → Up to $10k | 0.70% → $10k - $25k | 1.20% → $25k - $100k | 1.45% → $100k - $250k

Quorum Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%*$20k*-QChoice Checking
OTHER TIERS: 0.01% → Up to $20k

Quorum Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.10%$100k-11 Month Term Savings CD - New Money w/100K
5.00%$1k-11 Month Term Savings CD - New Money
4.85%$100k-15 Month Term Savings CD w/100K
4.75%$1k-15 Month Term Savings CD
4.61%$100k-24 Month Term Savings CD w/100K
4.50%$1k-24 Month Term Savings CD
3.60%$100k-60 Month Term Savings CD w/100K
3.50%$1k-60 Month Term Savings CD
3.10%$100k-36 Month Term Savings CD w/100K
3.00%$1k-36 Month Term Savings CD
2.85%$100k-48 Month Term Savings CD w/100K
2.75%$1k-48 Month Term Savings CD
2.60%$1k-12 Month Term Savings CD
2.60%$1k-18 Month Term Savings CD
2.45%$1k-6 Month Term Savings CD
2.20%$1k-3 Month Term Savings CD

Quorum Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.10%$100k-11 Month Term Savings IRA - New Money w/100K
5.00%$1k-11 Month IRA Term Savings - New Money
4.85%$100k-15 Month Term Savings IRA w/100K
4.75%$1k-15 Month IRA Term Savings
4.61%$100k-24 Month Term Savings IRA w/100K
4.50%$1k-24 Month IRA Term Savings
3.60%$100k-60 Month Term Savings IRA w/100K
3.50%$1k-60 Month IRA Term Savings
3.10%$100k-36 Month Term Savings IRA w/100K
3.00%$1k-36 Month IRA Term Savings
2.85%$100k-48 Month Term Savings IRA w/100K
2.75%$1k-48 Month IRA Term Savings
2.60%$1k-12 Month IRA Term Savings
2.60%$1k-18 Month IRA Term Savings
2.45%$1k-6 Month IRA Term Savings
2.20%$1k-3 Month IRA Term Savings
Locations


Quorum Federal Credit Union Locations
Corporate Office2500 Westchester Ave Suite 113Purchase, NY 10577-2587

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.