QBoost High-Yield Checking

Your Quorum accounts are insured up to $250,000 per person by the National Credit Union Share Insurance Fund (NCUSIF). Individual Retirement Accounts (IRA) are insured separately up to $250,000. The National Credit Union Administration (NCUA), a federal agency, administers the insurance fund and regulates federally insured credit unions. The fund is backed by the full faith and credit of the U.S. Government.

Depending on how your accounts are owned and what types of accounts you have, you can potentially increase the total insurance on your funds to greater than $250,000.

The Share Insurance Estimator, found here, can help you determine whether your accounts are established and insured appropriately. If you have already utilized the Share Insurance Estimator and still have additional questions, you can also reach out to the NCUA Consumer Assistance Center at (800) 755-1030. Representatives are available from Monday through Friday from 8 a.m. – 5 p.m. ET. You can also send an email with your questions to dcamail@ncua.gov.

To deposit a check using our mobile banking app, follow these instructions:

1. Download the Quorum mobile banking app for iOS or Android.
2. Select “Deposit” from the main menu.
3. Review the Deposit Notice and then click on the ‘Got it, let’s go’ button.
4. Follow the prompts to deposit your check:
5. Select an eligible account from the drop down to deposit the check into.
6. Enter the deposit amount.
7. Tap the “Front of Check” icon and follow the on-screen prompts. The app will automatically take a picture of the front of check.
8. Afterwards, the app will proceed to the “Back of Check” Image Capture screen. Follow the on-screen prompts. The app will automatically take a picture of the back of check.
9. Click “Submit Deposit” to deposit your check.

Mobile Deposit is also available for iPads and other Apple/Android devices. For more information on Mobile Deposits, please click here.

To initiate a direct deposit through your employer, use our ABA Routing & Transit Number 221981335 and your Quorum checking or savings account information when setting up this service with your employer.

Please use the following account number formats to ensure the funds are deposited/withdrawn appropriately:

• For savings accounts: Provide your account number (also known as your member number) and suffix without dashes. For example, your account number is 123456 and your savings account suffix is 0000, you would use 1234560000. You can view your suffix(es) in online banking. The suffix is the four-digit number listed after the dash in the number under each account name.
• For checking accounts: Provide the 14-digit account number located on the bottom of your Quorum checks. (You do not need your member number or suffix.) You can also find this in online banking by clicking on your checking account, then the “Account Details” tab above your transaction history.

A hard pull or soft pull can occur when you open a new checking or savings accounts from an online banking, credit union, or financial institution. A hard pull (which typically happens when a lender checks your credit report to make a lending decision; for instance, when applying for a mortgage) can (temporarily) slightly lower your credit score, and will typically stay on your credit report for two years. A soft pull, on the other hand, is an inquiry performed by a financial institution on your credit report, but does not affect your credit score in any way.

When Quorum reviews a checking or savings account application, we may perform a soft pull on an applicant’s credit report through one of the three major credit reporting agencies (TransUnion, Experian, Equifax) for verification purposes, and also run the name through ChexSystems to see if there is a report in their system. Neither of these actions will impact an applicant’s credit score in any way.

Credit/Debit Alerts will only alert you when a transaction is made using your Quorum Credit/Debit MasterCard®. Other transactions, such as checks or electronic transfers using your checking account number, will not trigger a credit/debit alerts.

How to set up card alerts:

Be sure to have your Credit/Debit Card handy before you start.

• For Credit Alerts visit: Credit Alerts Registration page
  • Click on “Register Now”
  • Complete registration by following the onscreen prompts.
  • Once registration is complete, you’ll be automatically logged in to the Credit Card Alerts Management platform where you can set up new Alerts.
• For Debit Alerts visit: Debit Alerts Registration page
  • Click on “Register Now.”
  • Complete the registration by following the onscreen prompts.
  • Once registration is complete, you’ll be asked to log in to the Debit Card Alerts Management platform where you can set up new Alerts.

APY is the amount of dividends you earn on money you deposit into a savings accounts (including high-yield savings accounts), over the course of a year. How often dividends are compounded is also figured into the APY.

If you are considering two or more bank accounts for your savings, it pays to compare the APY on each for the full picture on how much your money and account balance can earn over a year.

What is the significance of the APY? In its simplest form, the higher the APY, the more money you earn. If you have $25,000 invested in a one-year term account with a 2.86% APY, at the end of the year, you will have earned $715. With a 2.50% APY, your return would be $625.

You may see a higher annual percentage yield (APY) on accounts that have a higher minimum deposit and a longer commitment for how long you must keep the money in the savings account. Be sure to familiarize yourself with the terms and conditions of any bank account you open.

Yes. Zelle is available in Quorum’s mobile banking app.

To access Zelle, follow these instructions:

1. Log in to the Quorum mobile banking app.
2. Click on “More.”
3. Click on “Pay.”
4. Click “Zelle Payments.”
5. Follow the prompts to complete the enrollment process.

Please note, if you previously used your Quorum account in the standalone Zelle app, you will be forced to re-enroll in Zelle via the Quorum mobile banking app and you will no longer be able to conduct transactions with your Quorum account via the standalone Zelle app.