Island Federal Credit Union

Island Federal Credit Union Locations
120 Motor Parkway
Hauppauge, NY 11788
800-475-5263
www.islandfcu.org



Island Federal Credit Union is headquartered in Hauppauge and is the 19st largest credit union in the state of New York. It is also the 244th largest credit union in the nation. It was established in 1955 and as of September of 2011, it had grown to 58 employees and 25,777 members. Island Federal Credit Union's savings rates are 15% higher than the national average, and it boasts a 5-star health rating.

Related Posts

Hot 11-Month CD Special at Island Federal Credit Union in New York - Local Only - 5/19/2011

Island Federal Credit Union just increased the rate of its 11-month CD special. It now has the very competitive rate of 2.00% APY. Minimum deposit is $1,000. When I last reported on this deal in March ...

Top 30-Month CD Rate at Island FCU in New York - Local Only - 3/3/2011

Island Federal Credit Union continues to have a few competitive CD and IRA CD rates. The best one is the 30-month CD which has 2.05% APY. The 5-year CD is also pretty good with a 2.74% APY. They used ...

Top 9-Month and 5-Year CD Rates at Island FCU in New York - Local Only - 10/20/2010

Island Federal Credit Union has a couple good CD deals. First, there's a special 9-month CD with a 2.00% APY. This requires an Island Checking Account with VISA CheckCard and Direct Deposit (or pay 3 ...

2.05% 18-Month CD & 3.00% 48-Month CD at Island FCU in New York - Local Only - 3/11/2010

Island Federal Credit Union has a couple of competitive certificates: a 2.05% APY 18-month CD and a 3.00% APY 48-month CD. These are also available in an IRA CD. Minimum deposit is $1,000. These rate ...

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See Rates for: Checking | Savings | Money Market | CD | IRA

Island Federal Credit Union Checking Account Rates

ApyMinMaxProduct
0.15%$2,500-Checking Account
0.15%--Escrow

Island Federal Credit Union Savings Account Rates

ApyMinMaxProduct
0.60%--Regular IRA Savings
0.40%--Regular Savings
0.40%--Vacation Club
0.40%--Holiday Club

Island Federal Credit Union Money Market Rates

ApyMinMaxProduct
1.06%$1m-Money Market GOLD
0.50%--Money Market PLUS

Island Federal Credit Union CD Rates

ApyMinMaxProduct
2.27%$1k-60 Month CD Certificate
2.27%$500-60 Month Minor's CD Certificate
2.07%$1k-48 Month CD Certificate
2.07%$500-48 Month Minor's CD Certificate
1.70%$1k-36 Month CD Certificate
1.70%$500-36 Month Minor's CD Certificate
1.60%$1k-30 Month CD Special
1.60%$500-30 Month Minor's CD Special
1.41%$1k-24 Month CD Certificate
1.41%$500-24 Month Minor's CD Certificate
1.00%$1k-11 Month CD Special
1.00%$500-11 Month Minor's CD Special
0.95%$1k-12 Month CD Certificate
0.95%$500-12 Month Minor's CD Certificate
0.75%$1k-6 Month CD Certificate
0.75%$500-6 Month Minor's CD Certificate
0.55%$1k-3 Month CD Certificate
0.55%$500-3 Month Minor's CD Certificate

Island Federal Credit Union IRA Rates

ApyMinMaxProduct
2.27%--60 Month IRA Certificate
2.27%--60 Month Roth IRA Certificate
2.27%--60 Month CESA Certificate
2.07%--48 Month IRA Certificate
2.07%--48 Month Roth IRA Certificate
2.07%--48 Month CESA Certificate
1.70%--36 Month IRA Certificate
1.70%--36 Month Roth IRA Certificate
1.70%--36 Month CESA Certificate
1.60%--30 Month IRA Special
1.60%--30 Month Roth IRA Special
1.60%--30 Month CESA Special
1.41%--24 Month IRA Certificate
1.41%--24 Month Roth IRA Certificate
1.41%--24 Month CESA Certificate
1.00%--11 Month IRA Special
1.00%--11 Month Roth IRA Special
1.00%--11 Month CESA Special
0.95%--12 Month IRA Certificate
0.95%--12 Month Roth IRA Certificate
0.95%--12 Month CESA Certificate
0.75%--6 Month IRA Certificate
0.75%--6 Month Roth IRA Certificate
0.75%--6 Month CESA Certificate
0.55%--3 Month IRA Certificate
0.55%--3 Month Roth IRA Certificate
0.55%--3 Month CESA Certificate

Rates updated: 2/10/2012

Data for Q3 2011


Institution Statistics


ISLAND
NCUA #10023
BankRate ReportView
Year Established1955
Employees58
Primary Regulator

Assets and Liabilities

Assets$778.38 million
Loans$182.76 million
Deposits$680.27 million
Equity Capital$91.54 million
Loan Loss Allowance$801,000
Unbacked Noncurrent Loans$2.43 million

Historic Data - September 2010

Assets$653.56 million
Equity Capital$74.03 million
Loan Loss Allowance$464,000
Unbacked Noncurrent Loans$2.70 million

Profit Margin - Quarterly

Net Interest Margin2.49%
Return on Assets0.88%
Return on Equity7.44%
Interest Income$19.31 million
Non-Interest Income$2.22 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio5
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2011 Island Federal Credit Union had $2.43 million in non-current loans and owned real-estate with $92.34 million in equity and loan loss allowances on hand to cover it. This gives Island Federal Credit Union a Texas Ratio of 2.63% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for Island Federal Credit Union decreased slightly from 3.62% as of September 30, 2010 to 2.63% as of September 30, 2011, resulting in a positive change of 27.49%.This indicates that the balance sheet and financial strength for Island Federal Credit Union has improved slightly in recent periods.
Deposit Growth5
In the past year, Island Federal Credit Union has increased its total deposits by $105.65 million, resulting in 18.39% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Island Federal Credit Union has shown is excellent.
Capitalization4
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Island Federal Credit Union has $778.38 million in assets with $92.34 million in equity, resulting in a capitalization level of 11.86%, which is above average.
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