Quorum Federal Credit Union Rates —
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Quorum Federal Credit Union is a New York–based, member-owned credit union that operates almost entirely online, and one of the institutions we track for YourBestSavings. Unlike a regional credit union, anyone can join nationwide — membership is open through the American Consumer Council (or the Select Savers Club, whose small fee Quorum covers), with no employer or location requirement. We follow its full deposit lineup: the HighQ high-yield savings account and its Term Savings (CD) ladder from 3 to 60 months — every account ranked by the ByTheMath score and re-checked daily. We rank by the math; no institution pays to appear or move up.
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What stands out at Quorum
Quorum’s calling card is a genuinely open door: you do not need to live anywhere in particular or work for a specific employer to join, which is unusual for a credit union paying competitive rates. Its HighQ Savings account carries a $0 minimum to open, and its Term Savings accounts (Quorum’s name for CDs) start at just a $100 minimum — low enough to ladder several terms. The sharpest rates sit on shorter promotional terms such as the 7- and 11-month accounts, though those are new-money offers that renew into a standard 12-month term at maturity, so read the fine print before you assume the headline rate rolls over.
How we rank these accounts
Every account is scored by the ByTheMath method — APY weighted most heavily, then accessibility and flexibility — and grouped by type below, best first. Effective APY reflects the rate you would actually earn after any balance caps or conditions, which is why a capped or conditional rate does not automatically outrank a straightforward one. We may earn a commission when you open an account through our links, at no cost to you, and no commission ever changes the order; see our affiliate disclosure and methodology.
Membership, access & insurance
Quorum is a not-for-profit credit union, so deposits are insured by the NCUA up to $250,000 per member, per ownership category — the same protection level as FDIC coverage at a bank. Membership is open to anyone in the U.S.: when you apply, Quorum enrolls you in a qualifying association (the American Consumer Council, or the Select Savers Club whose $5 fee Quorum pays) so no employer affiliation is needed. Accounts are managed online and through Quorum’s app. Use the insurance calculator to confirm coverage across accounts.
Anyone in the United States. If you do not already qualify through an employer or family member, Quorum enrolls you in a partner association such as the American Consumer Council (or the Select Savers Club, whose $5 fee Quorum pays), so membership is effectively open nationwide.
Yes. Quorum is a federally insured credit union; deposits are protected by the NCUA up to $250,000 per member, per ownership category — the same protection level as FDIC coverage at a bank.
Term Savings is Quorum’s name for a certificate of deposit (CD). You lock in a fixed rate for a set term — 3 to 60 months — with a $100 minimum. Some shorter promotional terms require new money and renew into a standard 12-month term at maturity.
Daily. Each account shows the date its APY was last verified against Quorum’s own rate page. Promotional term rates in particular can change without notice, so we re-check every day.
See where its accounts land against the whole market on our high-yield savings and CD rate rankings.