Island Federal Credit Union is headquartered in Hauppauge and is the 20th largest credit union in the state of New York. It is also the 307th largest credit union in the nation. It was established in 1955 and as of June of 2022, it had grown to 147 employees and 47,143 members at 11 locations. Island Federal Credit Union has a B health rating.
Field of Membership Restrictions
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
Related Posts
5/14 - 2.25% APY 18-Month / 2.50% APY 30-Month Certificate Specials, Long Island, NY
8/15 - 11 Month CD Special: 1.75% APY, Long Island, NY
1/23 - Island FCU (NY) Raises Rates On Long-Term CDs
1/13 - Certificate Specials - Long Island, New York
3/3/11 - Top 30-Month CD Rate at Island FCU in New York - Local Only
10/20/10 - Top 9-Month and 5-Year CD Rates at Island FCU in New York - Local Only
3/11/10 - 2.05% 18-Month CD & 3.00% 48-Month CD at Island FCU in New York - Local Only
10/24/09 - 2.40% 11-Month CD & 2.65% 18-month CD at Island FCU in New York - Local Only
3/1/09 - 3.10% 15-Month CD & 3.05% 7-Month CD at Island FCU in New York
10/6/08 - 5.12% 4-Month CD at Island FCU in New York
Data as of Q2 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 10023 |
| Year Chartered | 1955 |
| Employees | 147 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.26% |
| Return on Equity - YTD | 5.36% |
| Annual Interest Income | $19.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $1.45B$1.56B |
| Loans | Q2 2022vs Q2 2021 | $991.0MM$967.4MM |
| Deposits | Q2 2022vs Q2 2021 | $1.16B$1.24B |
| Equity Capital | Q2 2022vs Q2 2021 | $70.6MM$112.0MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $4.9MM$6.4MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $5.7MM$4.4MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $0$0 |
