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.
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||0.26%|
|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|
Rates for Island Federal Credit Union are currently being reviewed.