Members have access to term savings accounts (another name for certificates of deposit). The bank offers a wide range of term lengths, from three months to five years, giving customers the flexibility to build a CD ladder. However, the bank doesn’t offer any specialty term savings accounts, such as a no-penalty account.
Most of the CD terms pay a top-tier APY as well. And big savers are rewarded for making bigger deposits: Term savings accounts with deposits of $100,000 or more earn an additional 0.1 percent APY, according to the bank’s website.
Quorum’s CDs all require a manageable $1,000 minimum deposit to open. The accounts are insured by the National Credit Union Association.
The accounts require a manageable minimum deposit to open.
Customers have access to a range of terms and competitive APYs.
Big savers are rewarded for deposits above $100,000.