Quorum Interest and Savings Rates View current interest rates on Quorum deposit and loan products.

Term Savings and IRA Term Savings Rates

Account Name Minimum Balance Term (in months) APR1 APY2

3-Month Term/IRA Term

Minimum Balance

$1000

Term (Months)

3

APR1

2.18%

APY2

2.20%

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6-Month Term/IRA Term

Minimum Balance

$1000

Term (Months)

6

APR1

2.42%

APY2

2.45%

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7-Month Term/IRA Term NEW MONEY ONLY 3

Minimum Balance

$1000

Term (Months)

7

APR1

5.13%

APY2

5.25%

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12-Month Term/IRA Term

Minimum Balance

$1000

Term (Months)

12

APR1

2.57%

APY2

2.60%

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15-Month Term/IRA Term

Minimum Balance

$1000

Term (Months)

15

APR1

4.89%

APY2

5.00%

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18-Month Term/IRA Term

Minimum Balance

$1000

Term (Months)

18

APR1

2.57%

APY2

2.60%

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24-Month Term/IRA Term

Minimum Balance

$1000

Term (Months)

24

APR1

2.72%

APY2

2.75%

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36-Month Term/IRA Term

Minimum Balance

$1000

Term (Months)

36

APR1

2.96%

APY2

3.00%

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48-Month Term/IRA Term

Minimum Balance

$1000

Term (Months)

48

APR1

2.72%

APY2

2.75%

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60-Month Term/IRA Term

Minimum Balance

$1000

Term (Months)

60

APR1

3.45%

APY2

3.50%

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Annual Percentage Rate (APR) and Annual Percentage Yield (APY) are in effect as of 02/01/2024. Term savings accounts are fixed rate. Dividends are compounded monthly and paid monthly. The minimum deposit and balance required to earn the APY is $1,000. A penalty will be imposed if funds are withdrawn prior to the maturity date. Fees could reduce earnings. Term Account deposits of $100,000 or more earn an additional 0.10% APY. Term Accounts will automatically roll over into the same term at the current rate at maturity, with the exception of the 7-Month Term Account which will automatically roll over into the 12-Month Term Account at the current rate at maturity.

Savings Account Rates

Account Name Minimum Balance APR1 APY2

HighQ Savings

Minimum Balance

None

APR1

4.17%

APY2

4.25%

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HighMarq | Tier 112

Minimum Balance

$0.00 - $9,999.99

APR1

0.01%

APY2

0.01%

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HighMarq | Tier 212

Minimum Balance

$10,000.00 and over

APR1

4.41%

APY2

4.50%

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Basic Savings

Minimum Balance

$5

APR1

0.01%

APY2

0.01%

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Additional Savings

Minimum Balance

None

APR1

0.01%

APY2

0.01%

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Holiday Club4

Minimum Balance

None

APR1

0.01%

APY2

0.01%

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HighQ Savings (our high-yield savings account), HighMarq, Basic Savings, Additional Savings, and Holiday Club accounts are variable rate accounts. APYs may change after the accounts are opened. Minimum Balance is required to open the account and to obtain the APY shown. Fees could reduce earnings.

Lending Rates

Account Name Term APR5

Second Lien HELOC6

Term

Revolving

APR5

8.50%
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Investment HELOC7

Term

Revolving

APR5

11.50%
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Bridge HELOC (1st lien)8

Term

Revolving

APR5

11.25%
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First Lien HELOC9

Term

Revolving

APR5

8.50%
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Overdraft Line-of-Credit (Checking Reserve)

Term

Revolving

APR5

As low as 13.40%
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Undergraduate Private Education Line-of-Credit 10

Term

to 300 Months

APR5

11.25%
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1st Mortgage/Co-Op Loan

Term

to 30 Years

APR5

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Money Management Account Rates

Account Name Minimum Balance APR1 APY2

Money Management | Tier 1

Minimum Balance

$0.00 - $2,499.99

APR1

0.45%

APY2

0.45%

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Money Management | Tier 2

Minimum Balance

$2,500.00 - $9,999.99

APR1

0.45%

APY2

0.45%

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Money Management | Tier 3

Minimum Balance

$10,000.00 - $24,999.99

APR1

0.70%

APY2

0.70%

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Money Management | Tier 4

Minimum Balance

$25,000.00 - $99,999.99

APR1

1.19%

APY2

1.20%

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Money Management | Tier 5

Minimum Balance

$100,000.00 - $249,999.99

APR1

1.44%

APY2

1.45%

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Money Management | Tier 6

Minimum Balance

$250,000.00 and over

APR1

1.69%

APY2

1.70%

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Money Management accounts are variable rate accounts. APYs may change after accounts are opened. Minimum Balance is required to open the account and to obtain the APY shown.

IRA Savings Account Rates

Account Name Minimum Balance APR1 APY2

IRA Savings | Tier 1

Minimum Balance

$0.00 - $2,499.99

APR1

0.45%

APY2

0.45%

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IRA Savings | Tier 2

Minimum Balance

$2,500.00 - $9,999.99

APR1

0.45%

APY2

0.45%

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IRA Savings | Tier 3

Minimum Balance

$10,000.00 - $24,999.99

APR1

0.70%

APY2

0.70%

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IRA Savings | Tier 4

Minimum Balance

$25,000.00 - $99,999.99

APR1

1.19%

APY2

1.20%

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IRA Savings | Tier 5

Minimum Balance

$100,000.00 and over

APR1

1.69%

APY2

1.70%

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IRA savings accounts are variable rate accounts. APYs may change after accounts are opened. Minimum Balance is required to open the account and to obtain the APY shown.

Checking Account Rates

Account Name Minimum Balance APR1 APY2

QChoice | Tier 1

Minimum Balance

$0.00 - $19,999.99

APR1

0.01%

APY2

0.01%
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QChoice | Tier 2

Minimum Balance

$20,000.00 and over

APR1

0.05%

APY2

0.05%
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APYs may change after accounts are opened. Minimum Balance is required to open the account and to obtain the APY shown. Fees could reduce earnings.

Credit Card Rates

Account Name Rewards Annual Fee APR5

Cash Back World Mastercard®

Rewards

Enjoy daily savings and cash rewards.

Fee

None

APR5

As low as 13.90%11
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World Mastercard®

Rewards

Enjoy travel, merchandise, and cash rewards!

Fee

None

APR5

As low as 13.90%11
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RateWise Mastercard®

Rewards

Enjoy daily savings and a low rate.

Fee

None

APR5

As low as 12.90%11
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Frequently Asked Questions

Is my money safe and sound at Quorum?

Quorum Credit Union exceeds the minimum financial standards regulators require for a credit union to be considered well-capitalized. Our net worth remains at well-capitalized levels and Quorum has consistently maintained healthy levels of capital and liquidity, even through the most challenging of economic times.

Are my funds insured with Quorum?

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.

I have more than $250,000 in deposits at Quorum. How do I check to see if it is insured?

If you have more than $250,00 in deposits and are concerned that your savings may not be fully insured by the NCUA, you can check the Share Insurance Estimator here to understand what is insured and what portion (if any) exceeds coverage limits.

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 through multiple account owners or trusts with beneficiaries.

MyCreditUnion.gov contains more information about the National Credit Union Share Insurance Fund coverage for consumers.

How do I open a savings/checking account online?

Opening a new personal savings account is easy when you use online banking!

For Members:
1. Log in to online banking from our home page.
2. Click on “Checking/Savings” under Open.
3. Select the product(s) you wish to open, then follow the prompts to complete the application.

For Non-Members:
1. Apply using our easy online application.
2. Choose the savings product(s) you wish to open, then follow the prompts.
3. You’ll have an opportunity to fund your account(s) before submitting your application.

If you would like to open a new IRA (individual retirement account) or need personal assistance with your online savings account, please contact our Member Service Team at (800) 874-5544, Monday through Friday, 8:30 a.m. to 7:00 p.m. ET.

Visit our Savings page to learn about all the savings accounts that Quorum offers. Get more financial education by reading our Learning Hub articles.

How does Quorum determine interest rates on its savings products?

As with all depository institutions (savings and commercial banks, credit unions and loans and savings associations), the APY on a traditional savings accounts is variable and closely linked to the Federal Funds Rate set by the Federal Reserve. Rates can go up when the economy is doing well, and they can go down when the economy weakens. Quorum closely monitors Federal rates and looks for ways to remain competitive.

What is compound interest?

Compound interest simply means earning interest on interest. When interest compounds daily, your interest is broken into 365 smaller payments. When it compounds monthly (Quorum compounds dividends monthly), it is paid in 12 payments. If interest is compounded daily, interest added on Tuesday will earn interest on Wednesday, and then the new amount will earn interest on Thursday—and so on. If interest is added monthly, the interest earned for a specific month will be paid once each month.

While it is true that the more often interest is compounded, the more you stand to earn, it’s important to remember that when looking at APY, you are looking at the annual yield, not the rate. That means, when you see a high-yield savings account that advertises 2.00% APY, you will have earned 2.00% on your balance by year end, whether it is compounded daily or monthly: APY is the equalizer and allows you to compare apples to apples.

What is Annual Percentage Yield (APY)?

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

What are dividends?

Dividends are essentially credit-union-speak for interest. It’s the money we pay you for leaving your deposits with us.

How are mortgage interest rates determined?

Mortgages are bought and sold by investors on the Secondary Market. Rates are determined by the amount for which an investor is willing to purchase your mortgage.

For our most current mortgage rates, please visit our Mortgage Page to submit a contact request.

Can I be notified when mortgage/refinance rates are updated?

Unfortunately, we do not offer this service at this time. Please visit our Mortgage Page to submit a contact request and one of our Mortgage Experts will reach out to you to review our current rates and answer any other questions you may have.

What is New Money?

“New money” savings promotions are run from time to time on term accounts or other savings products. We define new money as any new funds on deposit two weeks or less with the Credit Union. We count the two weeks from the start of when those funds become available, not the date they are deposited.

How do I fund my Term Account?

As with any other Term Savings or CD accounts, you’ll need to fund your account at the time of application. At Quorum, you’ll be asked to fund your account by transferring money from an existing Quorum savings or checking account to your new term account at the time of application. You can’t add additional funds to your term account once your account is opened. If you don’t already have the funds in one of your Quorum accounts, you can easily transfer funds from your other bank accounts into any one of your Quorum accounts. You’ll want to do this first before you open a term account.

Please note that some of our term accounts require “new money” (new funds on deposit two weeks or less with Quorum). Be sure to check the account requirements and disclosures prior to opening your term account.

I’m interested in opening a checking/savings account with Quorum. Do they perform a hard/soft pull credit inquiry when reviewing the application?

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.

What are your mortgage rates?

Please contact us by filling out our contact form. One of our Mortgage Experts will reach out to review our current mortgage rates and answer any other questions you may have.

Where can I find the Credit Union fee schedule?

Visit our Fees page for the most up-to-date information.  

What is an Online Credit Union?

While banks (including online banks) are public, profit-driven companies designed to make money for shareholders, online credit unions are not-for-profit, cooperative financial institutions operated by members and based entirely on the web.

In an online credit union like Quorum, profits are returned to members in the form of low fees for financial products and services. A shared sense of community provides members with peace of mind and a connection to something larger than themselves, as well as loyalty and service to other members.

Online credit unions are carefully regulated and are a safe place to store your money. Just like the Federal Deposit Insurance Corporation (FDIC) insures banks, the National Credit Union Administration (NCUA) insures credit unions.

1APR: Deposit Annual Percentage Rate advertised in effect as of 02/01/2024 and subject to change.

2APY: Deposit Annual Percentage Yield advertised in effect as of 02/01/2024 and subject to change.

3New Money: The 7-Month Term Account is for NEW MONEY only or funds that have been on deposit with Quorum for two weeks or less. The minimum deposit and balance required to earn the APY is $1,000. A penalty will be imposed if funds are withdrawn prior to the maturity date. The 7-Month Term Account will automatically roll over into the 12-Month Term Account at the current rate at maturity.

4Holiday Club dividends are disbursed each October.

5APR: Loan Annual Percentage Rate advertised in effect as of 02/14/2024 and subject to change.

6Second Lien HELOC: The Annual Percentage Rate (APR) is as low as 8.50% as of 02/14/2024. The Floor Rate is 6.95%. Maximum APR is 18.00%. The APR is a variable rate, plus or minus a margin, and is based on the Prime rate (index – as published in The Wall Street Journal) plus a margin. The margin is determined based on credit history, loan amount and combined loan-to-value (CLTV) ratio. Rate will not increase or decrease more than 2% annually. A home equity line-of-credit is secured by the member’s home and is available only for 1-2 family residential properties and condominiums, excluding co-ops. Minimum line-of-credit amount: $25,000.00. No draw required at closing. No application, or termination fees; appraisal fee varies. No pre-payment penalty. Mortgage tax may apply in some states. This Home Equity Line of Credit is not available in TX. All loans are subject to credit approval. Fees are due at closing and debited from the HELOC (except appraisal fee, if applicable, due at time of application). Additional fees for HELOCs, including all lender fees, origination fees and third-party fees will be passed to the borrower. Click here for the Fee Schedule. Second Lien HELOC: For discounted rates a. (0.25%), a new Checking Account with Quorum must be established prior to closing with a minimum monthly balance of $5,000. b. (0.50%) a new CD with Quorum must be established prior to closing. Must maintain at least $50,000 in CDs any duration. Requirements must be satisfied at account opening and maintained through the life of the loan to be eligible for the rate discounts. Click here for more information on HELOCS.

7Investment HELOC: The Annual Percentage Rate (APR) is as low as 11.50% as of 02/14/2024. The Floor Rate is 6.95%. Maximum APR is 18.00%. The APR is a variable rate, plus or minus a margin, and is based on the Prime rate (index – as published in The Wall Street Journal). The margin is determined based on credit history, loan amount and combined loan-to-value (CLTV) ratio. Rate will not increase or decrease more than 2% annually. A home equity line-of-credit is secured by the member’s home and is available only for 1 family residential properties and condominiums, excluding co-ops. Minimum line-of-credit amount: $50,000. No draw required at closing. No application or termination fees; appraisal fee varies. Click here for the Fee Schedule. No pre-payment penalty. Mortgage tax may apply in some states. This Home Equity Line-of-Credit is not available in TX. All loans are subject to credit approval. Investment HELOC: For discounted rates a. (0.25%), a new Checking Account with Quorum must be established prior to closing with a minimum monthly balance of $5,000. b. (0.50%) a new CD with Quorum must be established prior to closing. Must maintain at least $50,000 in CDs any duration. Requirements must be satisfied at account opening and maintained through the life of the loan to be eligible for the rate discounts. One unit only, minimum loan amount $50,000. Click here for more information on HELOCS.

8Bridge HELOC (1st Lien): The Annual Percentage Rate (APR) is as low as 11.25% as of 02/14/2024. The Floor Rate is 6.95%. Maximum APR is 18.00%. The APR is a variable rate, plus a margin, and is based on the Prime rate (index – as published in The Wall Street Journal). The margin is determined based on credit history, loan amount and loan-to-value (LTV) ratio. Rate will not increase or decrease more than 2% annually. A home equity line-of-credit is secured by the member’s home and is available only for 1 family residential properties and condominiums, excluding co-ops. Minimum line-of-credit amount: $50,000.00. No draw required at closing. No application or termination fees. Appraisal fee varies. No pre-payment penalty. Mortgage tax may apply in some states. This Home Equity Line of Credit is not available in TX. All loans are subject to credit approval. Fees are due at closing and debited from the HELOC (except appraisal fee, if applicable, due at time of application). Additional fees for HELOCs, including all lender fees, origination fees and third-party fees will be passed to the borrower. Click here for the Fee Schedule. Bridge HELOC (1st lien): For discounted rates a. (0.25%), a new Checking Account with Quorum must be established prior to closing with a minimum monthly balance of $5,000. b. (0.50%) a new CD with Quorum must be established prior to closing. Must maintain at least $50,000 in CDs any duration. Requirements must be satisfied at account opening and maintained through the life of the loan to be eligible for the rate discounts. Click here for more information on HELOCS.

9 First Lien HELOC:The Annual Percentage Rate (APR) is as low as 8.50% as of 02/14/2024. The Floor Rate is 6.95%. Maximum APR is 18.00%. The APR is a variable rate and is based on an index (Prime rate as published in The Wall Street Journal) plus a margin.  The margin is determined based on credit history, loan amount and loan-to-value (LTV) ratio. Rate will not increase or decrease more than 2% annually. A home equity line-of-credit is secured by the member’s home and is available only for 1-4. family residential properties and condominiums, excluding co-ops. Minimum line-of-credit amount: $50,000.00. No draw required at closing. No application or termination fees. Appraisal fee varies. No pre-payment penalty. Mortgage tax may apply in some states. This Home Equity Line of Credit is not available in TX. All loans are subject to credit approval. Fees are due at closing and debited from the HELOC (except appraisal fee, if applicable, due at time of application). Additional fees for HELOCs, including all lender fees, origination fees and third-party fees will be passed to the borrower. Click here for the Fee Schedule.  First Lien HELOC: For discounted rates a. (0.25%), a new Checking Account with Quorum must be established prior to closing with a minimum monthly balance of $5,000. b. (0.50%) a new CD with Quorum must be established prior to closing. Must maintain at least $50,000 in CDs any duration.Requirements must be satisfied at account opening and maintained through the life of the loan to be eligible for the rate discounts. Click here for more information on HELOCS.

10 Undergraduate Private Education Line-of-Credit: Effective Date 11/27/2023. All loans subject to approval and restrictions may apply. We reserve the right to change rates for new applications at any time and without notice. Credit union membership and a minimum share deposit is required. The Annual Percentage Rate is subject to increase after consummation. The interest rate will be adjusted quarterly, based on changes to the Index. The APR will not exceed 18.00% or fall below the Floor rate regardless of the Index or any additional rate discount. Any increase in the Index may increase the APR and the amount of your monthly payment. Current offered rate(s) are calculated by using the Index, Margin and Floor value(s) in effect. Your specific Interest Rate, Margin, Floor, and/or credit approval depends upon the credit qualifications of the student borrower and co-borrower (if applicable). Margin will be disclosed at account opening. Student borrowers may apply with a creditworthy co-borrower which may result in a better chance of approval and/or lower interest rate. Rate reflects a 0.25% discount for autopay during repayment only. Student Lending Center additional disclosures are here.

11Credit Cards: Annual Percentage Rate (APR) advertised in effect as of 10/01/2023 and subject to change. The rate is based on your creditworthiness. The APR will vary with the market based on the Prime Rate. The maximum interest rate will never exceed the rate permitted under the Federal Credit Union Act (currently, this maximum is 18%). If your rate increases, additional payments will be required. There is no monthly service charge.

12HighMarq Savings: Annual percentage yield (APY) in effect as of 08/09/2023. The current rate is 4.41%. APR and rate may change after account is opened and any fees could reduce earnings. HighMarq Savings Account Requirements: There is no minimum balance to open or maintain HighMarq Savings. The minimum balance to earn the advertised APY is $10,000. There are no monthly fees as long as you register for and maintain e-Statements. If you choose to receive paper statements, there will be a $10 monthly fee. View the Truth-In-Savings and Other Account Disclosures.