News & Events

Quorum Federal Credit Union, a forward-thinking, technology-based online credit union serving members across the U.S., is proud to be Certified™ by Great Place to Work® for the third year in a row. The prestigious award is based entirely on what current employees say about their experience working at the Credit Union. This year, 94 percent of Quorum’s 194 employees said the company was a great place to work – 37 points higher than the average U.S. company.*

Three teachers recently attended the Council for Economic Education (CEE)’s 63rd Annual Financial Literacy & Economic Education Conference (the nation’s premier K-12 educator Conference for teachers who want to integrate personal finance and economics into their classrooms), thanks to the donation of Quorum Federal Credit Union.

Quorum Federal Credit Union, a forward-thinking, technology-based online credit union serving members across the U.S., has been named One of the Best Workplaces in Financial Services & Insurance™ by Fortune Media. This is Quorum’s second time on this prestigious list (as well as being previously acknowledged in June by Fortune as a 2024 Best Workplace in New York). Earning a spot means that Quorum is one of the best companies to work for in the country.

Quorum Federal Credit Union, a forward-thinking, technology-based online credit union serving members across the U.S., has been named One of the Best Workplaces in New York by Fortune Media for the second year in a row. Quorum was eligible for the honor based on its earlier Great Place to Work Certification™.

Quorum Federal Credit Union, a forward-thinking, technology-based online credit union serving members across the U.S., celebrates 90 years in business in 2024.

Bankrate has named Quorum One of the Best Credit Unions of 2024. This is Quorum’s sixth consecutive year on Bankrate’s Best Credit Unions list.

Quorum Federal Credit Union, a forward-thinking, technology-based online credit union serving members across the U.S., is proud to be Certified™ by Great Place to Work® for the second year in a row. The prestigious award is based entirely on what current employees say about their experience working at the Credit Union. This year, 94 percent of Quorum’s 146 employees said the company was a great place to work – 37 points higher than the average U.S. company.*

Quorum’s recent donation to The Council for Economic Education (CEE) paved the way for three teachers to attend the 62nd Annual Financial Literacy & Economic Education Conference, the nation’s premier K-12 educator Conference for teachers who want to integrate personal finance and economics into their classrooms.

Quorum Federal Credit Union, a forward-thinking, technology-based online credit union serving members across the U.S., has been named One of the Best Workplaces in Financial Services & Insurance™ by Fortune Media. This is Quorum’s first time on this prestigious list (but was previously acknowledged in June by Fortune as a 2023 Best Workplace in New York). Earning a spot means that Quorum is one of the best companies to work for in the country.

Business Insider recently reviewed Quorum, giving it 4.75 out of 5 stars, and a 5 out of 5 for trustworthiness!

Quorum Federal Credit Union, a forward-thinking, technology-based online credit union serving members across the U.S., has been named One of the Best Workplaces in New York by Fortune Media. Quorum was eligible for the honor based on its earlier Great Place to Work Certification™.

CNBC named Quorum’s QClassic Checking Account one of the best credit union checking accounts in their article!

CNBC named Quorum’s HighQ liquid savings account the Best Overall Credit Union Savings Account in their article!

Quorum Federal Credit Union has won a Diamond Award in Financial Education for its Learning Hub during the Credit Union National Association’s (CUNA) Marketing & Business Development Council’s awards competition, presented at the CUNA Marketing & Business Development Council Conference, March 26 – 29th in Orlando, Florida. This marks Quorum’s second win for its Learning Hub, originally taking home a Diamond Award in Content Marketing in 2021.

Quorum made Fortune’s February 2023 list of Best Online Banks and Credit Unions, citing our savings account APY and high mobile banking rating, as well as our educational resources, including our award-winning Learning Hub.

Now in its fifth year, Quorum trusted partner in financial education Balance, is presenting its popular sweepstakes “Webinar for the Win,” which rewards one attendee of their free online webinars with the grand prize of $1,000.

Quorum has been named the Best Credit Union, 2023 by Bankrate!

Bankrate has named Quorum the Best Credit Union of 2023. The prestigious award comes after four straight years earning a spot as a Top Credit Union on Bankrate’s list.

Quorum President and CEO Jeff Pachter looks back on a momentous year and what’s in store for members going forward.

Quorum Federal Credit Union recently launched a Volunteer Time Off (VTO) Policy for its employees, enabling all employees to give back to their community during work hours while still getting paid.

CNET named Quorum one of the best credit unions of 2022, citing our “competitive rates on savings accounts and free checking with digital banking.”

Business Insider named Quorum one of the top credit unions of October 2022, citing our “strong accounts with competitive interest rates.”

Quorum Federal Credit Union, a forward-thinking, technology-based online credit union serving members across the U.S., was recently Certified™ by Great Place to Work®. The prestigious award is based entirely on what current employees say about their experience working at the Credit Union. This year, 95 percent of Quorum’s employees said the company was a great place to work – 38 points higher than the average U.S. company.*

Quorum’s recent donation to The Council for Economic Education (CEE) allowed Mt. Vernon, NY teacher Marco Damiano to attend the 61st Annual Financial Literacy & Economic Education Conference earlier this month. This sponsorship enabled one more teacher to learn and pass on knowledge that will give students a grasp on the basic principles of the American economic system and access to the tools to be successful within it.  

Quorum was featured in AARP’s article “5 Ways to Increase the Yield on Your Savings” as a credit union that pays better than traditional savings accounts.

Quorum is proud to have been featured in CNBC.com’s latest article about how to get the best return on your money as a credit union paying a 3% rate.

Purchase, NY, July 28, 2022 – Quorum Federal Credit Union has named a new Chairperson to its Board of Directors for 2022. James F. Ingold, a Board Director since 2019, replaces Mark Werner, who assumes his previous role as Treasurer. Werner has served on Quorum’s Board since 1998, and held the role of Chairperson from May 2019 until April 2022.

Read the article here: https://www.bankrate.com/banking/best-credit-unions/

Quorum’s CEO Bruno Sementilli and President Jeff Pachter discuss the Credit Union’s company culture, growth model, and reflect on some of Bruno’s favorite memories.

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.

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.

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.

Read the article here.

Like businesses and families across the country, Quorum felt the impact of the pandemic and was tried and tested by COVID-19; it forced us to pivot on initiatives we had planned to deliver to our members and partners, first rallying to meet your most immediate needs.

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.

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.)

Read the article here.

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.

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.

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.

PURCHASE, NY – Quorum’s IT department hosted a “Qsino Royale” Game Night for Quorum employees with proceeds going to support Disabled American Veterans (DAV). Among the activities were: poker, blackjack, roulette, and even a Murder Mystery!

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!

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.

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:

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

HENDERSON, NV – Bluepoint 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.

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.

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.

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.

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.

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

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.

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.

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.

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.”)

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.

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.

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.

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.

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.

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.