A Message from President and CEO Jeff Pachter. Safety and Soundness at Quorum.

The media has been filled with news about recent bank failures and events that have caused uncertainty in the financial services markets. I want to take this time to reinforce the safety and stability of Quorum and our capacity to preserve and protect your funds and remind you about what it means to be a credit union member.  

Your Quorum membership means something. When a member opens an account, you become an owner of Quorum Federal Credit Union. This means that credit unions act in the best interests of members/owners and that credit unions will continue to meet member needs. Our priority is and always will be our members’ financial success and security.  

As a not-for-profit financial institution, Quorum’s profits go back to members in the form of new services, better rates, and lower fees. For almost 90 years, we have continuously served members in a safe and sound manner by investing in their financial well-being while also protecting their funds through the application of rigorous and comprehensive risk management practices.  

We have compiled a list of questions you may have about the credit union difference and safety and soundness at Quorum.


Quorum President and CEO Jeff Pachter Quorum Q With Icons Quorum Q With Icons


1. Is my money safe at Quorum? (How is Quorum different from these failed banks?)

YES. Quorum is a credit union. Credit unions have a history of sound lending practices and sound investments, as they answer to their members and board of directors, not shareholders.

2. Are my funds at Quorum insured?

Federally insured credit unions, like Quorum, offer a safe place for credit union members to save money. Deposits are protected by the National Credit Union Share Insurance Fund (NCUSIF). All Quorum members are insured up to at least $250,000 per individual depositor by the NCUAthe same as any other federally insured institution.

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.

3. What if I have more than $250k at Quorum?

If you have more than $250k 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.

4. Is Quorum sound?

Yes, Quorum is well-capitalized. The Credit Union exceeds the financial standards regulators require for a credit union to be considered well-capitalized. Our net worth remains at well-capitalized levels (a net worth ratio of 7& or higher is considered “well capitalized”), with a net worth ratio of 8.78%. We have consistently maintained healthy levels of capital and liquidity, even through the most challenging of economic times; these levels allow us to absorb any potential losses and meet our obligations to members.

We stand ready to help you achieve your financial needs and answer your questions—as we do every day. Feel free to contact us via email or call (800) 874–5544, Monday through Friday, 8:30 a.m. – 7:00 p.m. ET to speak to a Member Service Representative.

We thank you for your membership.

Where can I read more about this situation?

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