Island Federal Credit Union

Overview / Commentary
120 Motor Pkwy
Hauppauge, NY 11788-5160

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


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Health Grade Components

NCUA #10023
Year Chartered1955
Primary Regulator
Profit Margin
Return on Assets - YTD0.26%
Return on Equity - YTD5.36%
Annual Interest Income$19.3MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$1.45B$1.56B
LoansQ2 2022vs Q2 2021$991.0MM$967.4MM
DepositsQ2 2022vs Q2 2021$1.16B$1.24B
Equity CapitalQ2 2022vs Q2 2021$70.6MM$112.0MM
Loan Loss AllowanceQ2 2022vs Q2 2021$4.9MM$6.4MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$5.7MM$4.4MM
Real Estate OwnedQ2 2022vs Q2 2021$0$0

Rates for Island Federal Credit Union are currently being reviewed.



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