Term Savings

 

See green all year round with our new term rates.

We've increased our rates all around! Whether you're looking to lock in a high-yield savings rate for 12 months or five years, you'll find some of the highest in the country below. Open an account online with as little as $1,000 and when your term is up, take a week to decide whether you want to withdraw your money or re-invest it, or roll it over automatically. Ready to grow your savings? 

 

Apply Now

 

Check out these high-yield rates:

12-month

2.60% APY

12-month (1 year) term savings account. Minimum balance to open: $1,000
Click Here To Apply
18-month

2.65% APY

18-month term savings account. Minimum balance to open: $1,000
Click Here To Apply
24-month

2.70% APY

24-month (2 year) term savings account. Minimum balance to open: $1,000
Click Here To Apply
36-month

2.75% APY

36-month (3 year) term savings account. Minimum balance to open: $1,000
Click Here To Apply
48-month

2.80% APY

48-month (4 year) term savings account. Minimum balance to open: $1,000
Click Here To Apply
60-month

3.00% APY

60-month (5 year) term savings account. Minimum balance to open: $1,000
Click Here In To Apply

 

 

What are Term Accounts?

 

Term savings accounts are deposit accounts with fixed rates and terms, ranging from one month to a few years. Term savings accounts are limited to one deposit transaction for the entire duration of the term. These accounts are an extremely safe investment and are therefore very appealing to more conservative savers. Since the funds are locked in for the term, you’ll generally get a higher rate than you would with a liquid savings account. Your funds are free to withdraw at maturity; if you need them sooner, you can usually withdraw part or all of the money, but you will pay a penalty.

Similar to FDIC-insured Certificates of Deposit (CDs) generally issued by commercial banks, your funds are federally insured by the National Credit Union Administration (NCUA), so you can be sure that your money is safe and secure with Quorum.

 

A few things you should know:
Annual percentage yield (APY) in effect as of 10/2/2018. The minimum deposit and balance required to earn dividends is $1,000. A penalty will be imposed if funds withdrawn prior to maturity date. Your funds will automatically roll-over into the same term at the current rate at maturity. Term Account deposits of $100,000 or more earn an additional 0.10% APY, excluding the 60-Month Term/IRA Accounts. 

 

Need personal assistance?

Call us at (800) 874-5544, Monday through Friday, 8:30 a.m. – 7:00 p.m. ET.