News & Events

24 Jul 2017

Press Release

Quorum Federal Credit Union Announces 2017 Scholarship Winners

PURCHASE, NY - Estefan Santi of Lyndhurst, NJ won $500 from the Westchester-Rockland Chapter scholarship, as well as a $500 scholarship from Quorum; Kyra Kabulis of Brookfield, CT, and Meaghan Downey of Wilton, CT, were also awarded $500 scholarships from Quorum.

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01 Apr 2017

Press Release

2016 Message from the President/CEO, Bruno Sementilli

2016 IN REVIEW

Following last year’s record loan growth, we’re pleased to report another healthy year in first and second mortgages, as well as our loan verticals. We’re proud to help you fulfill your goals; this in turn helps us to better position Quorum for the future.

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29 Jan 2016

Press Release

Quorum Federal Credit Union Reduces Operational Redundancies with Jack Henry & Associates’ jhaEnterprise Workflow

Monett, Mo., Jan. 29, 2016 – Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Symitar® division announced today that Quorum Federal Credit Union (Quorum) has seen significant time savings and operational improvements since implementing jhaEnterprise WorkflowTM, a fully automated workflow solution that streamlines and standardizes business processes for financial institutions.

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22 Dec 2015

President's Message

2015 IN REVIEW

A Message From Bruno Sementilli, President/CEO 

We are delighted to report record growth in deposits and first and second mortgages in 2015, thanks to you, our members. This means more of you were able to save for your future, and more of you were able to achieve home ownership. This shared success allows us to better position Quorum for the future.

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31 Aug 2015

Press Release

Symitar Announces General Availability of SymXchange

Monett, Mo., Aug. 31, 2015 – Credit unions and third-party vendor partners can now more easily access and personalize data and business rules of the Episys core processing system, with the release of SymXchange™ by Symitar®, a division of Jack Henry & Associates, Inc. (NASDAQ:JKHY), a leading provider of technology solutions and payment processing services primarily for the financial services industry.

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24 Jul 2015

Press Release

Quorum Federal Credit Union Announces 2017 Scholarship Winners

PURCHASE, NY - Estefan Santi of Lyndhurst, NJ won $500 from the Westchester-Rockland Chapter scholarship, as well as a $500 scholarship from Quorum; Kyra Kabulis of Brookfield, CT, and Meaghan Downey of Wilton, CT, were also awarded $500 scholarships from Quorum.

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21 May 2015

Press Release

Quorum Federal Credit Union Announces Scholarship Winners

PURCHASE, NY - Tara Downey, age 18, of Wilton, CT has won scholarships from the Credit Union Association of New York (CUANY) ($500) and the Westchester-Rockland Chapter Scholarship ($500), in addition to a $500 scholarship from Quorum.

Kate Zendell, 17, of Suffern, NY and Christina Curtis, 17, of Morton Grove, IL were also awarded $500 scholarships from Quorum.

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01 Jan 2015

President's Message

2014 IN REVIEW

A Message From Bruno Sementilli, President/CEO 

Revamped Online Experience

Thank you for your feedback, which played an integral role in the launch of our new website at quorumfcu.org last March. We simplified every chance we got, implementing a clean, bright, minimal look, and designed our site so that you could engage us with the device of your choice: PC, laptop, tablet or mobile phone. Changes—including an updated logo and typeface—now reflect a more modern Quorum. Simplifying resulted in a 50 percent reduction in pages, making it easier for you to find what you’re looking for.

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17 Sep 2014

Press Release

Quorum Wins "Best in Class" in International Website Competition

 

INTERACTIVE MEDIA AWARDS WINNER 2014

 

 

 

PURCHASE, NY – Quorum Federal Credit Union received the Interactive Media Awards’ (IMA) “Best in Class” award in the Financial Information category for its newly redesigned website.

The Best in Class award is the highest honor bestowed by the IMA to participants...

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23 Jul 2014

Press Release

Quorum Federal Credit Union Chooses NetSuite OneWorld to Support Business Growth

SAN MATEO, CA – NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials/ERP and omnichannel commerce software suites, today announced that Quorum Federal Credit Union (www.quorumfcu.org), one of the nation’s strongest credit unions with members in 50 states and a network of more than 86,000 ATMs and 12 service centers, has selected NetSuite OneWorld to manage its financials, help support its rapid growth and power its business transformation. 

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10 Jul 2014

Press Release

Quorum Named One of the Best Companies to Work For in New York — For Five Straight Years!

Quorum President/CEO Bruno Sementilli accepts the Best Companies Award.

Pictured, from left to right: Scott Klenk of Capital District Physicians’ Health Plan (CDPHP), Jeanne Marrin, State Director of the New York State Society for Human Resource Management (NYS-SHRM), Bruno Sementilli, President and CEO, Quorum Federal Credit Union, and Franklin Goldberger from Jackson Lewis, P.C. 

PURCHASE, NY – Quorum Federal Credit Union has been named one of the Best Companies to Work For in New York for the fifth year in a row. This year, the company was ranked No. 13 among the top 32 small- and medium-sized employers in the state.

The award was granted to Quorum by the New York State Society for Human Resource Management and...

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01 Jan 2014

Press Release

President's Message

2013 IN REVIEW

A Message From Bruno Sementilli, President/CEO 

2013 was potentially our most ambitious year to date. In addition to continuing to enhance our core products—mortgages, credit cards and checking accounts—we began to replace our online banking systems as well as revamp our corporate website, the benefits of which you will experience in the coming months. Thank you to all who participated in our 2013 online banking survey; we’ve read your feedback regarding the log-in process, website speed, and mobile banking features. These aspects of our site—and more—will be enhanced in the year ahead. 

2013 was about refining our new products, based on your feedback. As of November 30, 2013, there was a 112% increase in QChoice accounts opened over last year, a 50% increase in new credit cards issued, and a 10% increase in mortgage loans. 

Our Vacation Ownership (VO) partnerships continue to thrive—this year, we welcomed Grand Crowne Resorts to our family—with Credit Union membership growing 58% in 2013 in the VO sector. Forty-six percent of these VO members were brought on by our newly-launched co-branded credit card initiative. These programs were built from the ground up with our VO partners, offering points-based rewards geared to the VO vacation enthusiast, with ongoing card servicing provided by the Credit Union. We’re thrilled to provide a financing option that’s enabled vacation ownership for so many new members. 

We are thankful for all of our members, and continue to look for ways to serve our current members better, as we expand the community nationally. After the Kraft restructuring, we followed our members to Deerfield, IL, and are now happy to count Mondelez International employees as part of our growing membership. Our newest select employee group, MasterCard, will be adopting Quorum as its credit union for all of its employees, nationwide. We will also be cooperating in developing and testing MasterCard products and innovations in the coming months. 

Also worth noting, we’ve moved! As a cost-savings measure, we’ve relocated our Headquarters to 2500 Westchester Avenue, Suite 411, Purchase, NY 10577. Thirty percent savings in cost per square footage have allowed us to continue to grow and hire the best and brightest employees. Our employees have in turn helped us to be voted for FOUR consecutive years one of the Best Places to Work For in New York by the New York State Society for Human Resources and the Best Companies Group. 

Our sincerest gratitude goes out to our members, employees and Board of Directors who helped us make 2013 another successful year for Quorum. It is our honor to be your financial services provider. 

Best wishes for a happy and healthy New Year,
 

Bruno Sementilli
President/CEO

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13 May 2013

Press Release

Quorum Named One of the Best Companies to Work For in New York — Fourth year in a row!

Jeanne Stewart (State Director, New York State-Society for Human Resources Management), Bruno Sementilli, President and CEO, Quorum Federal Credit Union, Scott Klenk (Sr. Vice President, Human Capital Management, Capital District Physcians’ Health Plan) and Franklin Goldberger (Resident Partner, Albany Office, Jackson Lewis).

Pictured, from left to right: Jeanne Stewart (State Director, New York State-Society for Human Resources Management), Bruno Sementilli, President and CEO, Quorum Federal Credit Union, Scott Klenk (Sr. Vice President, Human Capital Management, Capital District Physcians’ Health Plan) and Franklin Goldberger (Resident Partner, Albany Office, Jackson Lewis).

PURCHASE, NY – Quorum Federal Credit Union (QFCU) has been named one of the Best Companies to Work For in New York for the fourth year in a row. This year, the company was ranked No. 15 in the "Companies with less than 250 Employees" group.

The award was granted to QFCU by the New York State Society for Human Resource Management and...

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05 May 2011

Press Release

Quorum Federal Credit Union Named One of the Top 10 Companies to Work For in New York

PURCHASE, NY – Quorum Federal Credit Union (QFCU) has been named one of the Best Companies to Work for in New York for the second year in a row - jumping nine places from the previous year's honor. This year, the company was ranked No. 10 in the "Companies with less than 250 Employees" group.

The award was granted to QFCU by the New York State Society for Human Resource Management and the Best Companies Group, an independent company managing the Best Places to Work programs on state, regional and national stages around the country. The statewide survey and awards program was designed to identify and honor the best places of employment in New York, thereby supporting the state’s economy, workforce and businesses.

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27 Sep 2010

Press Release

Credit Union Industry Update

As you may have heard, on September 24, 2010, the National Credit Union Administration (NCUA) placed into conservatorship three corporate credit unions due to the fact that they were undercapitalized. Here are some points we want you to know...

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22 Jul 2010

Press Release

$250,000 NCUA Share Insurance Protection Now Permanent

From NCUA.gov
(Original Publication: July 22, 2010)

President Barack Obama yesterday signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act. Included in this sweeping legislation are provisions making permanent the current $250,000 maximum federal deposit insurance level, which had been temporary until December 31, 2013.

Federally insured credit union member accounts are insured to at least $250,000 by the National Credit Union Share Insurance Fund, a federal insurance fund backed by the full faith of the U.S. Government.

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27 Apr 2010

Press Release

Quorum Federal Credit Union Named One of the Best Companies to Work For

PURCHASE, NY – Quorum Federal Credit Union (QFCU) has been named one of the Best Companies to Work for in New York (Small and Medium Companies) for 2010.

The award was granted to QFCU by the New York State Society for Human Resource Management and the Best Companies Group, an independent company managing the Best Places to Work programs on state, regional and national stages around the country. The statewide survey and awards program was designed to identify, recognize and honor the best places of employment in New York, benefiting the state’s economy, its workforce and businesses.

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20 Apr 2010

Press Release

Quorum Federal Credit Union Announces Scholarship Winners

PURCHASE, NY - Two members of Quorum Federal Credit Union (QFCU), Alexis Glennon, age 17, and Rachel A. Hunt, age 18, both of Arlington Heights, Ill., have won scholarships from the Credit Union Association of New York (CUANY) ($1,000 and $500 scholarships, respectively) as well as $500 scholarships from Quorum.

Celeste Hoelzl, age 18, of Wilton, Conn., was awarded a $500 scholarship from Quorum. “Quorum is proud to participate in a scholarship program designed to recognize and reward members nationwide who pursue and excel in higher education,” said Bruno Sementilli, president/CEO of Quorum.

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24 Feb 2010

Press Release

Five Reasons to Switch to a Credit Union Credit Card

From Forbes.com
By David K. Randall
(Original Publication: February 24, 2010)

Since the second part of a federal bill known as the CARD Act went into effect on Monday, credit cards have become a lot friendlier to consumers. Credit card companies are now prohibited from a long list of dirty business practices ranging from switching the date that a customer's bill is due to retroactively raising interest rates. (For more, check out "Credit Card Law Changes: What You Need to Know.")

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12 Jan 2010

Press Release

Quorum Federal Credit Union Hosts Holiday Party for Veterans

PURCHASE, NY – Each year at Quorum Federal Credit Union, a Holiday Committee is created to help raise money for a local charity. On Thursday, December 17, 2009, the Committee sponsored a holiday party for the Spinal Cord Unit of James J. Peters Veterans Medical Center in Bronx, NY.

Fundraising for the event was a company-wide effort that included a bake sale, office raffles (prizes were a full-day off with pay, a $100 American Express Gift Card, and professional cakes baked and donated by employee Lisa Penirelli’s daughter, Ariana), and a "Charity Tree" decorated with ornaments listing presents desired by the veterans.

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27 Jul 2009

Press Release

Are Credit Unions Superheroes?

From The New York Times
By Nancy Folbre
(Original Publication: July 27, 2009)

Credit unions always seemed like Dullsville to me. I never bothered to check out the interest rates, much less the governance structure of credit unions I was eligible to join.

But in the wake of the financial crisis, they began to look more like Clark Kent, who turned out to be Superman. When the big American banks started sucking up to funds from the Troubled Asset Relief Program, or TARP, credit unions, with many fewer subprime mortgages on their balance sheets, started looking really good.

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22 Jun 2009

Press Release

A Fairer Credit Card? Priceless

From The New York Times
By Ryan Bubb and Alex Kaufman
(Original Publication: June 22, 2009)

Industry representatives would have you believe that the Credit Card Accountability, Responsibility and Disclosure Act enacted last month spells the end of the credit card as we know it. President Obama’s proposal last week to create a Consumer Financial Protection Agency to enforce the law has increased the industry’s concerns.

But the example of cards issued by credit unions puts the lie to these claims. Credit unions largely conform to the new rules already, while profitably maintaining the basic features that users know and love.

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04 Oct 2008

Press Release

Financial Crisis Leaves Credit Unions Unscathed

Repurposed from The Journal News, Westchester County
By David Schepp
(Original Publication: October 4, 2008)

The turmoil that has ripped through the U.S. financial system has seemingly touched every sector, from investment banks to savings and loans to mortgage companies.

Credit unions, however, have remained unscathed, even as concern about the fallout has pushed the National Credit Union Administration, which administers the National Credit Union Share Insurance Fund, to assure credit union customers that their money is safe.

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28 Aug 2008

Press Release

For Better Banking, Check Out a Credit Union

From The Wall Street Journal
By Brett Arends
(Original Publication: August 28, 2008)

For obvious reasons, many Americans are pretty unimpressed with the banking industry right now.

So maybe it's a good time to look at an alternative – like moving your account to a local credit union instead.

These not-for-profit co-operatives have a kind of sleepy, backwater image. They're often seen as the local libraries of banking. But that's too bad. The chances are they didn't pay their chief executive $10 million while writing off billions in subprime loans. And they can offer you some surprisingly good deals.

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27 Apr 2008

Press Release

Check Credit Unions for Better Deals

From The Wall Street Journal
By Andrea Coombes
(Original Publication: April 27, 2008)

The Web sites may not look quite as polished and the eligibility requirements may give you pause, but when it comes to low fees and generous rates, credit unions match banks head-to-head.

It's not that you'll find drastically better deals at credit unions, but their products should be among the options you consider when searching for savings and checking accounts, certificates of deposit, small-business, mortgage and auto loans, and credit cards -- particularly now, given that credit unions in large part sidestepped the subprime crisis.

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