Quorum Federal Credit Union

Quorum Federal Credit Union operates as a federally chartered credit union headquartered in the United States of America. As a credit union, it provides a range of financial products and services to its members, including share savings accounts, checking accounts, various loan products such as auto, personal and mortgage loans, and credit card offerings. The institution serves individuals who meet its field of membership criteria, which is typical for credit unions that restrict membership to certain groups or communities. Being federally chartered, it is regulated by the National Credit Union Administration and must adhere to federal standards governing safety and soundness. Its primary purpose is to promote the financial well‑being of its member‑owners through cooperative principles.

In May 2023, Quorum Federal Credit Union disclosed a data breach in which unauthorized parties accessed systems and obtained members’ personal information, including names combined with financial account numbers, credit or debit card numbers and associated security codes. The breach affected more than 17,000 individuals, prompting the credit union to offer those impacted one year of identity theft protection services that included credit monitoring, fraud consultation and identity theft restoration through the vendor Kroll. This response highlights the organization’s commitment to mitigating harm to its members following a security incident. As a cooperative, Quorum Federal Credit Union is owned and governed by its members, who elect a volunteer board of directors to oversee the institution’s strategic direction. The credit union’s structure aligns with the broader credit union movement, emphasizing member control, democratic governance and a not‑for‑profit orientation.