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 241st largest credit union in the nation. It was established in 1955 and as of December of 2020, it had grown to 141 employees and 44,734 members at 11 locations. Island Federal Credit Union's money market rates are 14% higher than the national average, and it 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
Overall | |
---|---|
NCUA # | 10023 |
Year Chartered | 1955 |
Employees | 141 |
Primary Regulator |
Profit Margin | |
---|---|
Return on Assets - YTD | -0.58% |
Return on Equity - YTD | -7.96% |
Annual Interest Income | $39.1MM |
Assets and Liabilities | ||
---|---|---|
Assets | Q4 2020vs Q4 2019 | $1.62B$1.53B |
Loans | Q4 2020vs Q4 2019 | $962.6MM$873.3MM |
Deposits | Q4 2020vs Q4 2019 | $1.18B$1.17B |
Equity Capital | Q4 2020vs Q4 2019 | $118.2MM$120.8MM |
Loan Loss Allowance | Q4 2020vs Q4 2019 | $7.0MM$2.2MM |
Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $7.1MM$5.2MM |
Real Estate Owned | Q4 2020vs Q4 2019 | $0$0 |
Always verify rates and promotions with the bank or credit union. We are not Island Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
0.20% | - | - | IRA Savings | |
0.05% | $1 | - | Regular Savings | |
0.05% | - | - | Vacation Club | |
0.05% | - | - | Holiday Club | |
0.05% | - | - | Escrow |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
0.50%* | $500k* | - | Money Market Gold | ||
OTHER TIERS: 0.05% → Up to $50k | 0.25% → $50k - $100k | 0.30% → $100k - $250k | 0.40% → $250k - $500k | |||||
0.10% | - | - | Money Market Plus |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
0.05% | $2.5k | - | Checking Account |