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Quorum Federal Credit Union

Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
0.70%SavingsHighQ
1.05% - Ally Bank Online Savings AccountAdvertisement
1.46%2-year CD25 Month Term Savings CD
1.50% - Ally Bank Raise Your Rate 2-Year CDAdvertisement
1.25%1-year CD11 Month Term Savings CD
1.35% - Ally Bank High Yield 12-Month CDAdvertisement
View all Quorum Federal Credit Union rates »

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 299th largest credit union in the nation. It was established in 1977 and as of December of 2016, it had grown to 117 employees and 79,310 members at 7 locations. Quorum Federal Credit Union's savings rates are 35% higher than 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

$300 Checking Account Bonus At Quorum Federal Credit Union - 1/17/2017

To qualify for the $300 bonus, a new QChoice checking account must satisfy the following requirements: 10 or more transactions per month for the first three consecutive months or 30 transactions over the first 90-day period, after account opening. Transactions include deposits, withdrawals, check writing, POS transaction, account transfers, ACH direct deposit, and bill payment. The QChoice Account requires enrollment in eStatements and minimum monthly direct deposit(s) totaling $1,000 or minimum average daily balance of $5,000. A $10 monthly fee applies when these requirements are not met. Promotion page http://why.quorumfcu.org/checking-cs/

Quroum 1.40% 10-Month Term Account Over? - 7/6/2016

It's no longer on current rate chart, Quorum's Current Rates | Quorum

Quorum FCU Continues To Offer Competitive CDs - 6/15/2016

Quorum FCU (easy membership) has added a New Money 10-month CD (1.40% APY) and raised the rate on its 24-month CD (1.50% APY.) Minimum deposit is $1k. Also as IRAs.

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Reviews (5)

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.

1

RATE BATE AND SWITCH

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.

5

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.

6

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

4

Horrible Stay Away

Posted by: Jeffed | Apr 11, 2016

They seem to take pleasure in messing with your money.

17


Health
C

Data as of Q4 2016

Learn why bank health matters

Health Grade Components

Overall
NCUA #22769
Year Chartered1977
Employees117
Primary Regulator
Profit Margin
Return on Assets - YTD-0.74%
Return on Equity - YTD-10.93%
Annual Interest Income$42.5MM
Assets and Liabilities
AssetsQ4 2016vs Q4 2015$902.1MM$954.9MM
LoansQ4 2016vs Q4 2015$749.6MM$819.3MM
DepositsQ4 2016vs Q4 2015$831.6MM$850.2MM
Equity CapitalQ4 2016vs Q4 2015$61.7MM$68.2MM
Loan Loss AllowanceQ4 2016vs Q4 2015$27.8MM$7.7MM
Unbacked Noncurrent LoansQ4 2016vs Q4 2015$35.0MM$21.0MM
Real Estate OwnedQ4 2016vs Q4 2015$128.00K$436.00K
Rates
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* 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
0.70%--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

APYMINMAXACCOUNT NAMEVIEW 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

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
1.46%$1k-25 Month Term Savings CD
1.25%$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

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.46%$1k-25 Month IRA Term Savings
1.25%$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
Locations


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 Office255 Lafayette Ave 4th Floor WestSuffern, NY 10901-4812
Branch Office636 11th AveNew York, NY 10036
Branch Office2500 Westchester Ave Ste 411Purchase, NY 10577-2587
Branch Office130 W Kingsbridge Rd #5C-05Bronx, NY 10468-3904