Quorum Federal Credit Union Review 2025
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At a glance
Best credit union
Overview
Quorum Federal Credit Union is a great option for consumers who want fee-free access to thousands of ATMs, in-person banking and modern bank technologies.
Highlights:
Digital Leader Free CheckingHighlights:
CDs
Checking
Savings
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.6/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.2/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Overall
Quorum Federal Credit Union is based in Purchase, New York, and serves members nationwide. The credit union offers a wide range of CDs, checking and savings accounts with solid yields.
Pros
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It offers above-average yields on its savings accounts and CDs.
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Checking account holders have access to more than 90,000 free ATMs.
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Accounts work with Apple Pay, Google Pay and Samsung Pay.
Cons
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Overdraft fees are higher than average.
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Customer service representatives aren’t available by phone on the weekends.
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Higher yields for some deposit accounts can be found elsewhere.
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Do you have experience with Quorum Federal Credit Union? Let us know your thoughts.
Quorum Federal Credit Union banking products
Quorum FCU HighQ Savings account
Pros
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There’s no minimum balance requirement to earn the top APY.
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The account doesn’t charge a fee for customers enrolled in e-statements.
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The HighQ Savings account offers a robust yield.
Cons
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Top-notch yields can be found elsewhere.
Rate history for Quorum FCU's Savings account
See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
Quorum FCU certificates of deposit
Pros
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The accounts require a relatively standard minimum deposit to open.
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Deposits above $100,000 earn higher yields.
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A handful of terms offer highly competitive yields.
Cons
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The credit union doesn’t offer any specialty CDs.
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Early withdrawal penalties are on the steep side.
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Many online banks and credit unions have lower minimum deposit requirements.
Rate history for Quorum FCU's CD accounts
See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.
Quorum FCU QClassic Checking account
Pros
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The QClassic account comes with a debit card and offers free access to more than 90,000 ATMs.
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There’s no monthly fee or minimum balance requirements.
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The bank offers early direct deposit and Bill Pay.
Cons
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The overdraft and insufficient funds fees are higher than what some other banks charge.
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Overdraft transfers from a linked checking account also come with a $20 fee.
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There’s a $2 ATM fee — both inside and outside of Quorum’s network — for ATM withdrawals surpassing 10 per month.
How does does Quorum Federal Credit Union compare to other banks?
Compare different account types offered by Quorum Federal Credit Union. Annual percentage yields (APYs) shown were updated between June 13, 2025 and June 19, 2025.
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Selected bank
Quorum Federal Credit Union savings account
Bankrate score
3.7
Bankrate Savings rating = 3.7/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
Most comparable
Alliant Credit Union savings account
Bankrate score
4.4
Bankrate Savings rating = 4.4/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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Bankrate score
Bankrate Savings rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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APY
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between June 13, 2025 and June 19, 2025.
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| 3.75% | 3.10% | |
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Minimum balance for APY
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| $0.00 | $100.00 | |
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Estimated earnings
Interest earned calculation based on a $50,000 deposit amount for a period of 1 year and is rounded to the nearest dollar. Exact earnings are dependent on calendar year, balance, and compounding frequency. Minimum deposit rules may apply.
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| $1,875 | $1,550 | |
| Quorum’s HighQ Savings account pays a yield that’s well above the national average, and there is no minimum deposit requirement. The $10 monthly service fee is waived for those who sign up for e-statements. | Alliant Credit Union offers several savings accounts, including a high-yield savings account pays a robust APY. The ability to create up to 19 named savings accounts sets Alliant apart from many competitors who typically limit additional accounts or charge fees for them. This feature is particularly valuable for users who prefer to separate their savings goals visually rather than just tracking them within a single account. Account holders must maintain an average monthly balance of at least $100 to earn interest. A minimum balance of $5 is required to keep the account open. | |
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Bankrate does not currently track additional product details for this bank.
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APY offering:
3.10%
4/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum balance for APY:
$100.00
4/5
The lowest deposit amount an account must have before it can earn interest.
Monthly service fee:
$0.00
5/5
A monthly charge a financial institution deducts from an account if certain requirements are not met.
Minimum balance to avoid fee:
$0.00
5/5
The lowest balance an account must maintain in order to avoid a fee.
Access to funds:
Great
5/5
A procedure that allows an individual or organization to access and manage the funds of another account holder.
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APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
The lowest deposit amount an account must have before it can earn interest.
A monthly charge a financial institution deducts from an account if certain requirements are not met.
The lowest balance an account must maintain in order to avoid a fee.
A procedure that allows an individual or organization to access and manage the funds of another account holder.
Bankrate does not currently track additional product details for this bank.
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Bank fees
| Fee | Charged? |
|---|---|
| Overdraft fee | $37 |
| Non-sufficient funds fee | $37 |
| Monthly maintenance fee | $0 – $10 |
| ATM fee | $2* |
| Excessive transaction fee | None |
*The first 10 withdrawals are free. Every ATM withdrawal after that threshold receives a $2 fee.
Customer experience
Physical presence. While Quorum doesn’t maintain branches of its own, members who prefer in-person banking can make transactions at more than 5,000 branches of partnering credit unions. Quorum Federal Credit Union also offers members more than 90,000 fee-free ATMs across the country
Customer support. Quorum customer service over the phone is available Monday through Friday from 8:30 a.m. to 7 p.m. Eastern time. No phone support is offered on weekends.
Digital experience. Members have access to modern technologies, like Apple Pay, Samsung Pay, Google Pay and Zelle. The credit union’s banking app is highly rated on Google Play and Apple’s App Store.
The above images were last updated on February 21, 2025.
Bankrate staff insight
"Overall, Quorum is working well so far for my purposes, which is having an easy-to-use HYSA that offers a relatively high APY,” said a Bankrate staff member with a Quorum account. “I feel like this account would be most useful for people who want the customer service of a credit union, but don’t need all the bells and whistles while doing online banking that larger financial institutions might offer. I used both the app and desktop site pretty easily. I especially liked that there was a budgeting feature, but it was far more bare-bones than what my main bank, Chase, offers."
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
