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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 21st largest credit union in the state of New York. It is also the 363rd largest credit union in the nation. It was established in 1977 and as of September of 2022, it had grown to 184 employees and 67,525 members at 1 location. Quorum Federal Credit Union's savings rates are 6X the national average, and it has a B 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 on the credit union's website.)
See current membership details

Related Posts

Quorum Federal Credit Union 30-Month CD APY Breaks 4% - 9/24/2022

Quorum Federal Credit Union (easy membership) 13-month and 30-month CD APYs are rate leaders. Min deposit of $1k or $100k, with new money required.

Quorum Federal Credit Union 30-Month CD Rate Is Near The Top - 9/10/2022

Quorum Federal Credit Union (easy membership) has boosted the tiered rates on 13-month and 30-month CDs. Min deposit of $1k or $100k, with new money required.

Quorum FCU Raises Highq Savings Rate To 1.5% APY - 7/22/2022

Quorum FCU just raised its liquid HighQ savings rate to 1.50% APY, for any balance level. It also is offering 2.50% APY for a 13-month CD, and 3.00% APY for a 30-month CD. For either of those CDs, you get an additional 0.10% if your balance is $100,000 or up. These rates are for new money only. https://www.quorumfcu.org/banking/savings/

View all posts from:

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 (13)

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.

3

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.

6

Impossible To Get Them On The Phone

Posted by: |

Not enough customer service reps. Held on phone for more than 20 minutes. Finally hung up.

3

Beware Credit Check

Posted by: |

Quorum runs a hard pull credit check against new member applicants, according to an email received. Think about that when applying to be a depositor member. There is no requirement in regulation that your credit score should be dinged so visibly flashing a yellow light! I was in the business of writing credit union laws and do not appreciate that extra ("security") negativity.

16
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Health
B

Data as of Q3 2022

Learn why bank health matters

Health Grade Components

Overall
NCUA #22769
Year Chartered1977
Employees184
Primary Regulator
Profit Margin
Return on Assets - YTD2.76%
Return on Equity - YTD33.55%
Annual Interest Income$33.9MM
Assets and Liabilities
AssetsQ3 2022vs Q3 2021$1.22B$995.7MM
LoansQ3 2022vs Q3 2021$995.5MM$763.0MM
DepositsQ3 2022vs Q3 2021$1.04B$894.0MM
Equity CapitalQ3 2022vs Q3 2021$95.6MM$75.0MM
Loan Loss AllowanceQ3 2022vs Q3 2021$12.0MM$17.8MM
Unbacked Noncurrent LoansQ3 2022vs Q3 2021$17.7MM$15.9MM
Real Estate OwnedQ3 2022vs Q3 2021$0$0
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
3.00%--HighQ
1.50%*$100k*-IRA Savings
OTHER TIERS: 0.25% → Up to $10k | 0.50% → $10k - $25k | 1.00% → $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
1.50%*$250k*-Money Management
OTHER TIERS: 0.25% → Up to $10k | 0.50% → $10k - $25k | 1.00% → $25k - $100k | 1.25% → $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
4.60%$1k-24 Month Term Savings CD
4.50%$1k-13 Month Term Savings CD - New Money
2.45%$1k-60 Month Term Savings CD
2.35%$1k-48 Month Term Savings CD
2.30%$1k-36 Month Term Savings CD
2.20%$1k-12 Month Term Savings CD
2.20%$1k-18 Month Term Savings CD
2.05%$1k-6 Month Term Savings CD
1.80%$1k-3 Month Term Savings CD

Quorum Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.60%$1k-24 Month IRA Term Savings
4.50%$1k-13 Month IRA Term Savings - New Money
2.45%$1k-60 Month IRA Term Savings
2.35%$1k-48 Month IRA Term Savings
2.30%$1k-36 Month IRA Term Savings
2.20%$1k-12 Month IRA Term Savings
2.20%$1k-18 Month IRA Term Savings
2.05%$1k-6 Month IRA Term Savings
1.80%$1k-3 Month IRA Term Savings
Locations


Quorum Federal Credit Union Locations
Branch Office2500 Westchester Ave Ste 411Purchase, NY 10577-2587

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