Is Quorum a bank or a credit union? What’s the difference?

Quorum is a credit union. Banks are typically for-profit companies owned by stockholders. Credit unions are not-for-profit and owned by the people who bank there. The practical difference is how the business is run: instead of optimizing for shareholder profit, a credit union is built to return value to members, often delivering better rates and fewer fees.

Are my deposits federally insured?

Yes, your deposits are federally insured by the National Credit Union Administration (NCUA) up to $250,000.

Who owns Quorum, and what does “member-owned” actually mean for me?

Quorum is owned by its members, which means if you’re a member, you’re a part-owner. Members help govern the credit union and elect the board of directors, who oversee Quorum’s leadership.

How do I become a member? Can anyone join?

Membership is free, and once you’re a member, you’re a member for life. Eligibility is based on your connection to a partner employer or a family connection, and the online application helps you find the path that fits. Our online application will help you determine if you are eligible for Quorum membership or help you join a partner association. Don’t worry, the process is quick and easy.

Do you have branches, or is Quorum fully digital?

Quorum is an online-only credit union. You can bank 24/7 online, on mobile, by phone, or at one of 90,000+ ATMs nationwide.

What makes Quorum different from big banks and fintech apps?

You get a digital-first experience with the member-first structure of a credit union: online-only convenience, plus the not-for-profit model designed to return value to members.

Steady where it counts. Fast where it matters.

Quorum is a member-owned technology-driven financial services company, built to help people and businesses Bank at the Speed of Life. Backed by over 90 years of experience, we deliver digital banking, mortgage, and deposit solutions to members and partners, nationwide.

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OUR PROMISE

Bank at the speed of life.

This is Quorum’s promise to members and partners: to build banking solutions that respond to real-world needs, are intuitive to use, and continuously evolve with the lives of the people we serve.

We believe banking should create momentum. Money should be easy to access, manage, and move, so you can grow, adapt, and thrive.

Open an account when you need

Every goal needs a place to start. Open checking, savings, or a loan online in minutes and put your life in motion.

Bank on your terms

Life doesn't run on business hours. Manage money 24/7 online, on mobile, by phone, or at more than 90,000 ATMs across the country.

Say yes to opportunities

Ambitious plans deserve financing that keeps up. Specialized HELOCs, land loans, and first mortgages.

Protect what you built

Settling an estate is hard enough. Open and manage estate and revocable trust accounts online. No branch visits. Ever.

Move fast, stay safe

Security should cover more than your balance: Federally insured deposits and accounts secured by advanced technology.

Build for the future

Some needs don't fit a product page. We build solutions for members and partners alike—from daily accounts to embedded programs.

WHAT IS A CREDIT UNION

What is a Credit Union, who do we serve, and how are we different from banks.

What is a Credit Union?

A credit union is member-owned, not-for-profit financial cooperative owned by the people who bank with it.

That ownership is the whole difference. No outside shareholders means we funnel earnings back to members in the form of higher savings rates and lower loan rates.

Quorum operates under a federal credit union charter and is regulated by the National Credit Union Administration (NCUA.) Deposit are federally insured up to $250,000 per owner, per category. Quorum is an Equal Housing Lender.

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Serving members and partners for over 90 years.

1930s - Where we started

In 1934, during the Great Depression, employees of Kraft and General Foods came together around a simple idea: people are stronger when they save, borrow, and succeed together. Kraft Employees Credit Union was born. Their commitment to cooperative banking laid the foundation for what would become Quorum Federal Credit Union.

1980s - Growing beyond our roots

Quorum expanded membership opportunities and embraced a “Once a Member, Always a Member” philosophy, ensuring members could remain part of the Credit Union through every stage of life.

2005 - Introducing Quorum Federal Credit Union

As membership grew beyond its original employee groups, the organization adopted the Quorum name to reflect a broader community and a growing commitment to serving members nationwide.

2009 - Expanding financial solutions

Quorum broadened its lending capabilities, helping members finance education, vacations, and other important life goals.

2012 to 2017 - Digital banking takes center stage

Quorum introduced mobile banking, launched a new digital banking experience and brand identity, expanded its nationally recognized savings products like QClassic Checking and HighQ Savings, and added educational resources to help members make informed financial decisions.

2020 - A digital-first financial institution

Building on years of digital innovation, Quorum enhanced its online and mobile experiences to serve members wherever they live, work, and bank. National recognition soon followed, with major financial publications naming Quorum among the nation's top credit unions.

2022 - 2024 Celebrating 90 years through innovation

Moving towards our 90th year anniversary, we added even more products and services to make lives easier for our members: introduced Zelle®, HighMarq Savings, QFlex and QBoost checking accounts, expanded home equity lending solutions, and launched a fully online Estate Account. We also enhanced member support with 24/7 digital assistance and live chat capabilities.

2026 - Nationally recognized, still member-focused

Quorum continues to expand its deposit, lending, and support capabilities with products like QFlex Checking, Land Loans, and AI voice chat, while earning national recognition for savings, checking, ATM access, and overall member value.

More about Quorum.

Careers

Learn more about working at Quorum, employee offerings, and our open positions.

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Leadership

Learn more about Quorum's Leadership team and Board of Directors.

Get to know our team

News & Events

For news, announcements, and recent events at Quorum.

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Trusted by members and financial experts.

Quorum is consistently selected as one of the top credit unions in America.

"I’ve been a member since 1978. Savings and checking, term accounts, car loans, and mortgages, all with great rates. Couldn't be happier."

Tim R.

"Quorum Federal Credit Union is the BOMB! I’ve banked at conventional "brick-and-mortar" banks for 50 years. The extra benefits, better rates and customer service are by far SUPERIOR to any bank anywhere. Look them up, compare as I did then sign up. They are truly the real deal."

Gary H.

"Quorum has been my primary bank for over 5 years, where they do NOT disappoint. Not only do they offer the best interest rates with the HighQ Savings and term CDs, they are also prompt to provide answers to any questions."

Sonja M.

"My husband and I have been with Quorum since the days of it being the Kraft Employee Credit Union. Through multiple life events, multiple moves, multiple loans, we have always maintained our accounts there and plan to do so for the future."

Theresa P.

"I have had checking and savings accounts for years with Quorum and have never had any problems. Therefore, when I needed a mortgage loan, I turned to Quorum. Their staff was a joy to work with. Very professional, informative and attentive to my every question, concern throughout the entire process. Quorum gets my lifetime customer approval from me."

Kathy W.

Best Credit Union

Bankrate

Best Credit Unions, 2026

CNET

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Best Credit Unions, 2026

Yahoo! Finance

Best Savings Account

Bankrate

Best Credit Union for ATM Access

Buy Side from WSJ

Best Credit Union for Savings Accounts

CNBC

Best Credit Unions for Checking Accounts

Best ATM Network
CNBC

Earn 4.20% APY* on a Certificate Account.

15-Yr Fixed Mortgage

100% Online Estate Accounts