30 Jun 2021
Quorum Federal Credit Union announces CEO transition effective February 2022
Jeffrey Pachter named the next President and CEO of Quorum Federal Credit Union
Bruno Sementilli to retire after 38 years
Purchase, NY, June 30, 2021 – Quorum Federal Credit Union’s Board of Directors has appointed Jeffrey Pachter, currently President, as the Credit Union’s next President and CEO, effective February 1, 2022. Pachter succeeds Bruno Sementilli who announced his retirement after 38 years with the Credit Union. Mr. Sementilli will assist with the transition until his retirement in 2022.
26 May 2021
PURCHASE, N.Y., May 21, 2021 – Quorum Federal Credit Union has been named one of the Best Companies to Work For in New York, a recognition that it has received a total of 10 times since 2010. The award was granted to Quorum by the New York State Society for Human Resource Management (NYS-SHRM) and Best Companies Group.
16 Apr 2021
PURCHASE, N.Y., April 16, 2021 – Quorum Federal Credit Union has won a Diamond Award in Content Marketing for its Learning Hub during Credit Union National Association’s (CUNA) Marketing & Business Development Council’s week-long virtual awards show to honor excellence in credit union marketing and business development.
19 Jan 2021
04 Jan 2021
05 Aug 2020
PURCHASE, N.Y., August 5, 2020 – Quorum Federal Credit Union has been named one of the Best Companies to Work For in New York, a recognition that it has received a total of nine times since 2010. The award was granted to Quorum 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.
15 Jun 2020
PURCHASE, N.Y., June 15, 2020 – Quorum Federal Credit Union has won three Diamond Awards during Credit Union National Association’s (CUNA) Marketing & Business Development Council’s week-long virtual awards show to honor excellence in credit union marketing and business development. (The Council postponed its 2020 annual conference due to the pandemic.)
18 Feb 2020
17 Dec 2019
You’ve all heard it: The customer is king. In Spanish and Italian, it’s “The customer always has a reason.” In Japan, “The customer is a god.” Today more than ever, customers have a choice, and that means businesses—the smart ones, at least—are looking to enhance the experience of every customer interaction, from navigating the website, to talking to a representative, to receiving a product or service.
25 May 2019
PURCHASE, N.Y., May 25, 2019 – Quorum Federal Credit Union has named its board members for 2019. Mark Werner, former Vice Chairperson and a board member since 1998, has been named Chairperson, replacing Kevin Holly, who has retired after serving on Quorum’s Board since 1989.
Prior to joining Quorum’s Board, Werner was Vice President of Benefit Investments forAltria Group, Inc., until his retirement in 2008, and worked with both Altria and General Foods since 1978. He was a past member of the New York Stock Exchange Pension Advisory Committee and the past president of Pension Group East. Werner currently serves as a member of The Board of Trustees for CUNA Retirement Programs.
24 Apr 2019
PURCHASE, NY., April 24, 2019 –
Quorum Federal Credit Union has been named one of the Best Companies to Work For in New York. The award was granted to Quorum 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.
17 Apr 2019
13 Mar 2019
PURCHASE, NY – We’re proud to share that Quorum was featured on Lifetime’s “Designing Spaces” this morning. Check out our clip, and learn how Quorum can help you get your finances in order! Special thanks to our member Gerry Lanni for sharing his story!
24 Apr 2018
Pictured, from left to right: Rachel Xenakis, HR Coordinator with Bethpage Federal Credit Union; Ned Hirt, Executive Director, New York State-SHRM; Glenn Shuster, VP, Human Resources from Quorum Federal Credit Union; Lynn Manning, VP, Human Resources from MVP Health Care; and Doug DeRito, Principal, Ryan LLC.
08 Sep 2017
Updated October 5, 2017
On September 7, 2017 Equifax reported a major cybersecurity breach that impacted approximately 143 million consumers.
We are sending notification to affected members as information comes in from Equifax.
The company estimates that the breach happened from mid-May through July 2017 and includes:
24 Jul 2017
Congratulations to our college-bound members who were awarded scholarships from Quorum and the Westchester-Rockland Chapter of the New York Credit Union Association!*
The competition was open to high school seniors who are Quorum members and will be enrolled in a two- or four-year college program for the first time in the fall of 2017. Each scholarship was presented in the amount of $500.
01 Apr 2017
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. Expanding Partnerships
Our international graduate student loan program continues to flourish: together with our core undergraduate student loan program, we’ve loaned over $18 million this year, and are proud to be one of the top credit union student loan lenders in the country. We are particularly pleased with our international graduate program; this specialized program helps students coming to the U.S. obtain financing—often during a very difficult and stressful time—and offers one-on-one, in-person service and consultation to help explain all aspects of the program.
29 Jan 2016
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.
22 Dec 2015
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.
31 Aug 2015
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.
21 May 2015
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.
01 Jan 2015
A Message From Bruno Sementilli, President/CEO
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.
06 Oct 2014
PURCHASE, NY and PLANO, Texas, October 6, 2014 – Alkami Technology Inc., a provider of digital banking solutions, announced that Purchase, NY-based Quorum Federal Credit Union has implemented its ORB Platform to enhance its online and mobile banking capabilities. The platform will seamlessly integrate with Quorum’s core banking system Fiserv Spectrum.
17 Sep 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 exemplifying the very best in planning, execution and overall professionalism. Competition participants were judged based on five criteria, including design, content, feature functionality, usability and standards compliance.
23 Jul 2014
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.
22 Jul 2014
HENDERSON, NV – QBluepoint Solutions announced that Quorum Federal Credit Union has implemented its QwikDeposit ToGo solution for remote deposit capture (RDC). The solution integrates seamlessly with Quorum’s newly launched online and mobile banking platform.
Quorum selected QwikDeposit ToGo to offer mobile deposit features to its 67,000+ members. Serving well-known companies such as Kraft Foods, Inc., Avon, Ogilvy, and Mondelez, Quorum has experienced double-digit membership growth over the last several years across all 50 states. To better serve its evolving member base, the credit union recently launched an institution-wide rebranding initiative with new banking technology, which incorporated Bluepoint Solutions’ QwikDeposit ToGo solution. As a result, Quorum members can now deposit checks from anywhere, any time via a slick, new interface.
10 Jul 2014
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 the Best Companies Group, an independent company managing the Best Places to Work programs on state, regional and national stages around the country.
01 Jan 2014
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.
13 May 2013
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 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.
05 May 2011
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.
27 Sep 2010
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:
Different from everyday credit unions
22 Jun 2010
(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.
27 Apr 2010
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.
20 Apr 2010
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.
24 Feb 2010
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.”)
12 Jan 2010
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.
27 Jul 2009
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.
22 Jun 2009
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.
04 Oct 2008
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.
28 Aug 2008
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.
27 Apr 2008
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.