Quorum Federal Credit Union
Headquarters
2500 Westchester Ave, Suite 113
Purchase, NY 10577
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ACH 221981335
2024 Overview
General Credit Union Information
Quorum is an NCUA insured institution located in Purchase, NY. It was founded in 1977 and has approximately $1088.49 millions in assets.
Who can join?
Employees/retirees of select companies and affiliated groups
Immediate family of a Credit Union member: spouses, domestic partners, children, siblings, parents, grandparents, grandchildren, step-parents, step-children, step-siblings
Members of the same household (those maintaining a single economic unit): roommates, domestic partners
| NCUA Insured | Yes / Federally Chartered |
| Charter Number # | # 22769 |
| Date Established | 1977 |
| Assets | $1,088.49 million |
| Loans | $754.19 million |
| Deposits | $960.81 million |
| Capital | $101.56 million |
Field of Membership Restrictions
Membership to Quorum Federal Credit Union is open to anyone through the American Consumer Council or the Select Savers Club. Membership is also open to employees, retirees, and associates of Mastercard, BASF Corporation, Diamond Resorts International, The Kraft Heinz Company and its subsidiaries, and over 70 other Select Employer Groups.
Deposit Rates - April 26, 2024
Your Current Location: Ohio, OH 43085
| Savings and Money Market Rates (Share Account Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| SAV
|
4.17% | $0 | - |
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|
|
Money Market
|
0.45% | $0 | $2,499 |
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|
|
Money Market
|
0.45% | $2,500 | $9,999 |
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|
|
Money Market
|
0.70% | $10,000 | $24,999 |
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|
|
Money Market
|
1.19% | $25,000 | $99,999 |
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|
|
Money Market
|
1.44% | $100,000 | $249,999 |
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|
|
Money Market
|
1.69% | $250,000 | - |
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|
| CD Rates (Share Certificate Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| 6 Mo CD
|
2.45% | $1,000 | - |
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|
| 7 Month Term (New Money)
|
5.25% | $1,000 | - |
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|
| 12 Mo CD
|
2.60% | $1,000 | - |
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|
| 15 Month Term
|
5.00% | $1,000 | - |
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|
| 18 Mo CD
|
2.60% | $1,000 | - |
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|
| 24 Mo CD
|
4.50% | $1,000 | - |
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|
| 36 Mo CD
|
3.00% | $1,000 | - |
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|
| 48 Mo CD
|
2.75% | $1,000 | - |
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|
| 60 Mo CD
|
3.50% | $1,000 | - |
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|
| Int Checking Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| INTCK
|
0.01% | $0 | $19,999 | Learn More |
| INTCK
|
0.05% | $20,000 | - | Learn More |
Loan Rates - April 26, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Quorum
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Ohio 30 Year Fixed Mortgage Rates 2024
| Lender | APR | Rate (%) | Points | Fees | Monthly Payment |
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|---|---|---|---|---|---|---|
NMLS ID: 401822 |
6.944% | 6.750% | 1.00 | $6,400 | $2,076 | Learn More |
NMLS ID: 2059741 |
7.018% | 6.875% | 0.88 | $4,672 | $2,103 | Learn More |
NMLS ID: 3030 |
7.476% | 7.375% | 1.00 | $3,200 | $2,211 | Learn More |
NMLS ID: 491986 |
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Featured - Ohio Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
7.490 %
|
$0 |
Learn More
More Info |
Note to Quorum
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Branches
Below are Quorum branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Columbus,Ohio
Climate Policy and Initiatives
QUORUM is encouraged to provide us with this information. When we receive this information from the credit union, we will provide it here.
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Financial Details
Quorum Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Quorum. The data is provided by the NCUA. All credit unions on BestCashCow, except those specified as not NCUA-insured in the overview section above, are NCUA-insured. Depositors should be careful to remain within NCUA insurance limits.
Texas Ratio
| Quorum | U.S. Average |
|---|---|
| 14.65% | 6.97 |
The Texas Ratio compares the amount of loans at risk and assets repossessed with the amount a credit union has on hand to cover any losses. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a credit union has to absorb its loan losses.
As of December 31, 2023, Quorum had $14,531,016 in non-current loans and $2,163,413 in owned assets. To cover these potential losses it had $101,555,375 in net worth and $12,400,000 in loans loss reserves. That gives it a Texas Ratio of 14.65%.
Net Worth
| Quorum | U.S. Average |
|---|---|
| 9.24% | 13.62% |
Quorum FCU has a net worth of 9.24% versus the BestCashCow average of 13.62. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.
*All images, logos and public notes on this page appear courtesy of QUORUM and are not subject to approval of BestCashCow. BestCashCow expressly disclaims all responsibility for this content.
Customer Reviews for Quorum
Sharon
September 20, 2023 |
Have been a member for 15 years and love everything about them: have a HighQ account, and QClassic checking and had a mortgage with them, too.
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Gord Randolph
August 19, 2018 |
Opened a high yield savings account that I regretted the moment I tried to make a withdrawal. Received a message to contact them. While I attempted to call on four separate occasions I could not speak to a human due to long wait times. When I finally got to speak to a person they asked me "what do I plan on doing with my money?" Really? This is none of their business! The whole process made me lose days of interest at a higher yield. Do not use this company.
Is this review helpful? Yes:1 / No: 0
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