Quorum Term Savings
Earn up to 4.20% APY with 7-month Term Savings
Updated July 13, 2026 · By the MoneyAtlas Editorial Team
Category Ratings
Quick Verdict
Quorum Federal Credit Union's Term Savings accounts pay some of the strongest short-term rates available — 4.20% APY on the 7-month term and 4.15% APY on the 11-month term as of 3/10/26 — with a $100 minimum deposit. The trade-offs are a required credit union membership (free to obtain through the American Consumer Council) and a narrow lineup of just two terms. For savers parking cash for under a year, Quorum is a compelling, federally insured choice.
Quorum Term Savings Overview
Quorum Federal Credit Union is a digital-first, not-for-profit credit union. Because credit unions return profits to members rather than stockholders, Quorum's low overhead translates into competitive dividend rates and low fees. A Term Savings account is the credit union equivalent of a certificate of deposit: a fixed-dividend account where your rate is locked for the full term. Deposits are federally insured by the NCUA up to $250,000.
Key Details
Quorum Term Savings Rates by Term
Rates in effect as of 3/10/26. APYs fluctuate; verify current rates on Quorum's site before opening.
Early Withdrawals and Maturity
A penalty will be imposed if funds are withdrawn before the maturity date, so only commit money you can leave untouched for the full term. At maturity, both the 7- and 11-month Term Accounts automatically roll over into the 12-Month Term Account at the rate current at that time. You can manage renewal terms, end terms early, and move funds through Quorum's online banking.
How to Open a Quorum Term Savings Account
- Confirm membership eligibility — most applicants qualify through the American Consumer Council or a Select Employer Group
- Complete the online application (takes under 5 minutes)
- Choose your term (7 or 11 months, regular or IRA) and deposit at least $100
- Fund the account within the opening funnel to lock your rate
Is Quorum Federal Credit Union Safe?
Yes. Deposits at Quorum Federal Credit Union are federally insured by the NCUA up to $250,000 per depositor — the credit union equivalent of FDIC insurance, backed by the full faith and credit of the U.S. government. Quorum is a not-for-profit institution, so earnings are returned to members in the form of competitive rates and low fees.
Who Should Open a Quorum Term Savings Account?
Quorum Term Savings fits savers who want a guaranteed, federally insured return on cash they won't need for 7 to 11 months — especially those prepping for big milestones like tuition, a wedding, or retirement who prefer predictable returns over market risk. If you need terms longer than a year or want to avoid the membership step, compare other CD rates — though few match Quorum's short-term APYs at a $100 minimum.
FAQ
Pros
Guaranteed Dividend Rate: Lock in a fixed dividend rate for the entire term — no market guesswork or rate chasing
Low $100 Minimum: Open an account with just $100, below the minimums at many competing banks
Federally Insured: Deposits are federally insured by the NCUA up to $250,000
Cons
Membership Required: You must join Quorum Federal Credit Union through a Select Employer Group or the American Consumer Council before opening an account
Limited Term Selection: Only 7- and 11-month terms are offered, and both automatically roll over into a 12-month term at maturity
Locked-In Funds: A penalty applies if funds are withdrawn before the maturity date