Quorum Federal Credit Union Reviews
This article explains all you need to know about Quorum Federal Credit Union.
Quorum Federal Credit Union Pros
* Low interest rates Only CDs demand a deposit.
Quorum Federal Credit Union Cons
* Monthly expenses, though waived
Quorum Federal Credit Union Best For
Customers who prefer a credit union over a bank for its low rates and community focus
Quorum Federal Credit Union About
Quorum began in 1934 when Kraft employees in Chicago decided to organize a credit union. It was designed to let employees bank with and for each other to build financial power. It was founded in 1936 by General Foods employees in New York.
In 1981, the credit union adopted the motto “Once a member, always a member,” allowing members to remain their membership even if they changed jobs or retired.
In 2005, the Credit Union added Select Employee Groups. The credit union now services Kraft Heinz, Avon, Ogilvy, and Mondelez under the name Quorum.
You’re in luck if you work for Quorum Federal Credit Union. Quorum offers competitive interest rates on savings, term, and checking accounts.
Higher balances might earn more. Other accounts, like the HighQ Savings account, offer high rates on all balances, so low-balance customers won’t be left out.
Keep an eye on your account’s monthly charge. Even if your Quorum account charges a monthly cost, there are simple methods to avoid it. You’ll be able to pick an account that suits your needs and your budget.
Aspects of Quorum Federal Credit Union
Some features of Quorum accounts include superior online and mobile banking with online bill paying and mobile deposits. In addition to price protection and extended warranties, its two checking accounts include Debit Mastercard®.
Many Quorum accounts do not demand a minimum deposit, allowing a larger consumer base to open them. Its monthly costs can also be waived.
Where Is Quorum Federal Credit Union?
Quorum has no branches of its own. On its website or mobile app, it lists shared service centers. There are over 90,000 free ATMs available.
What Can Quorum Federal Credit Union Do Online?
A lot with Quorum is online. You may pay bills, transfer funds, view statements and notices, set savings goals and budgets, and more online. You can also get the credit union’s app.
How Do I Get My Cash?
Online, mobile, or ATM access is available 24/7. Call them from 8:30 a.m. to 7 p.m. EST Monday through Friday. For personal or account information, you can also email a representative.
How Can a Quorum Federal Credit Union Account Save Me Money?
With Quorum’s accounts, you can save more money. There is a high interest rate on all HighQ Savings balances. If you want assured high returns, every Term Savings account earns an excellent rate. Higher balances might earn better rates in the Money Management account.
You can also save money by avoiding some accounts’ monthly fees. Going paperless and keeping up with eStatements can help.
How Do I Open a Quorum Federal Credit Union Account?
Your employer determines your Quorum eligibility. You must also be 18 or older. If you qualify, you can easily apply on Quorum’s website. Upon approval, a Basic Savings account will be opened and financed for you. Opening requires this account.
After joining, simply click the “Apply Now” button for the account you wish to open. You can also print and send or fax a paper account application to Quorum.
Application should take 10-15 minutes. Name, address, email, Social Security number, valid ID, and employment details are required. Quorum will also ask personal inquiries about your finances to prevent fraud.
For starters, Quorum is a credit union. To open an account, you must be a member. But not just anyone can join. To find out if you qualify for membership, call Quorum or ask your employer.
The lack of physical branches is a major drawback of Quorum. You can still access your accounts using Quorum’s Shared Service Centers.
Also, keep an eye out for Quorum bank’s monthly fees. However, you can easily waive any monthly fees.
Quorum Federal Credit Union: Conclusion
Quorum is a wonderful credit union banking choice. It has high-yield savings accounts like the HighQ Savings Account and interest-bearing checking accounts. With some of the best interest rates in the business, you can quickly expand your money.
Thanks for taking the time to read this blog post on Quorum Federal Credit Union.