Quorum Federal
Quorum Federal Credit Union is a notable financial institution serving members across various sectors, including healthcare, education, and research. Established to provide comprehensive banking solutions, Quorum Federal Credit Union prioritizes member satisfaction through competitive rates and personalized financial services. With a commitment to community support and member-centric values, Quorum Federal Credit Union aims to enhance financial well-being and foster long-term relationships with its diverse membership base.
At a glance
Sponsored offers
Overall
Quorum Federal Credit Union, headquartered in Purchase, New York, extends its services nationwide, providing a diverse array of financial products including CDs, checking, and savings accounts with competitive yields.
Benefits:
- Above-average yields on savings accounts and CDs.
- Access to over 90,000 free ATMs for checking account holders.
- Compatibility with Apple Pay, Google Pay, and Samsung Pay.
Drawbacks:
- Higher-than-average overdraft fees.
- Customer service phone support unavailable on weekends.
- Higher yields on certain deposit accounts may be available from other institutions.
Quorum Federal Credit Union banking products
Savings
CD
Checking
Bank fees
About Quorum Federal Credit Union
Quorum Federal Credit Union, established in 1934 as the credit union for Kraft Foods employees, has expanded its membership to over 50 affiliate companies nationwide. Today, anyone can join by becoming a member of the American Consumer Council or the Select Savers Club.
Quorum offers a range of financial products, including savings accounts, checking accounts, and certificates of deposit (CDs).
Banking with Quorum is convenient with online services and access to shared service centers. Members can also utilize Apple Pay, Samsung Pay, and Google Pay for transactions.
Customer experience
Quorum Federal Credit Union stands out for its extensive ATM network, providing members access to over 90,000 fee-free ATMs nationwide.
Although Quorum does not have its own branches, members can conduct transactions at more than 5,000 partnering credit union branches for in-person banking needs.
Customer service via phone is available Monday through Friday from 8:30 a.m. to 7 p.m. Eastern time, with no weekend support.
Members benefit from advanced technologies such as Apple Pay, Samsung Pay, Google Pay, and Zelle. The credit union’s banking app enjoys high ratings on both Google Play and Apple’s App Store.
How Quorum Federal compares to other banks
Compare various account types offered by Quorum Federal Credit Union, with annual percentage yields (APYs) updated between June 30, 2024, and July 6, 2024.
Quorum Federal Credit Union vs. Pentagon Federal Credit Union
In general, Pentagon Federal Credit Union offers a wider variety of financial products, including credit cards and money market accounts. And unlike Quorum, Pentagon Federal Credit Union maintains its own branches across the country.
And while Pentagon generally offers a wider range of terms and higher yields on its CDs, Quorum’s top CD yield is the highest between the two, and its savings account yield is also higher than what’s offered at Pentagon. Lastly, Pentagon’s interest-bearing checking account offers a higher yield than Quorum’s QChoice checking account.
Quorum Federal Credit Union FAQs
Quorum is ideal for individuals seeking competitive yields on certificates of deposit and savings accounts. It’s particularly suited for those comfortable with banking at shared branch locations, as Quorum does not operate its own branches.
Yes, Quorum Federal Credit Union is safe. Deposits held at Quorum are insured by the National Credit Union Share Insurance Fund (NCUSIF), providing coverage of up to $250,000 per depositor, per insured credit union, for each account ownership category.
Yes, Quorum Federal Credit Union is legitimate. Established in 1934, it is a federally chartered credit union regulated by the National Credit Union Administration (NCUA). The credit union’s charter year is officially recognized as 1977 by the NCUA.
