Island Federal Credit Union is headquartered in Hauppauge and is the 16th largest credit union in the state of New York. It is also the 231st largest credit union in the nation. It was established in 1955 and as of June of 2020, it had grown to 149 employees and 44,570 members at 11 locations. Island Federal Credit Union has a B health rating.
Membership in Island Federal Credit Union is open to the following: (1) Those who live, work, attend school or worship in Nassau or Suffolk Counties in New York, with the exclusion of Shelter Island, Southampton, and East Hampton; (2) Members of locals of Communications Workers of America: Local 1104 (Nassau County, NY); Local 1106 (Queens County, NY); Local 1108 (Suffolk County, NY); Local 1109 (Kings County, NY); Local 1102 (Staten Island, NY); and Local 1105 (Bronx, NY); 3) Members of record of CWA Long Island Federal Credit Union #22209 as of June 30, 2013.
See current membership details
|Return on Assets - YTD||0.14%|
|Return on Equity - YTD||1.72%|
|Annual Interest Income||$21.1MM|
|Assets and Liabilities|
|Assets||Q2 2020vs Q2 2019||$1.59B$1.49B|
|Loans||Q2 2020vs Q2 2019||$907.8MM$870.9MM|
|Deposits||Q2 2020vs Q2 2019||$1.15B$1.27B|
|Equity Capital||Q2 2020vs Q2 2019||$134.8MM$120.0MM|
|Loan Loss Allowance||Q2 2020vs Q2 2019||$3.4MM$2.0MM|
|Unbacked Noncurrent Loans||Q2 2020vs Q2 2019||$7.9MM$4.9MM|
|Real Estate Owned||Q2 2020vs Q2 2019||$0$0|
Rates for Island Federal Credit Union are currently being reviewed.