Island Federal Credit Union

Headquarters

120 Motor Pkwy
Hauppauge, NY 11788
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.05% 3.05% →
1-Year CD 0.70% 3.30% →
2-Year CD 0.85% 3.56% →
5-Year CD 1.15% 3.75% →
30-Year Mortgage N.A. 6.31% →
15-Year Mortgage N.A. 5.86% →
HELOC N.A. 2.79% →

2022 Overview

General Credit Union Information

Island is an NCUA insured institution located in Hauppauge, NY. It was founded in 1955 and has approximately $1499.12 millions in assets.

Who can join?

Membership is open to anyone who lives, works, worships or attends school in Nassau County or Suffolk County with the exception of the townships of East Hampton, Southampton and Shelter Island. A $5 Share account required.

NCUA Insured Yes / Federally Chartered
Charter Number # # 10023
Date Established 1955
Assets $1,499.12 million
Loans $965.71 million
Deposits $1,213.49 million
Capital $132.23 million
 

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.

Deposit Rates - September 24, 2022

Your Current Location: Washington, WA 98101

Savings and Money Market Rates (Share Account Rates) APY MIN MAX
Savings
0.05% $2,500 $4,999 Learn More
Money Market
0.05% $2,500 $2,999 Learn More
Money Market
0.05% $10,000 $14,999 Learn More
Money Market
0.05% $25,000 $29,999 Learn More
CD Rates (Share Certificate Rates) APY MIN MAX
6 Mo CD
0.50% $10,000 $14,999 Learn More
6 Mo CD
0.50% $100,000 $199,999 Learn More
12 Mo CD
0.70% $10,000 $14,999 Learn More
12 Mo CD
0.70% $100,000 $199,999 Learn More
24 Mo CD
0.85% $10,000 $14,999 Learn More
24 Mo CD
0.85% $100,000 $199,999 Learn More
36 Mo CD
1.00% $10,000 $14,999 Learn More
36 Mo CD
1.00% $100,000 $199,999 Learn More
48 Mo CD
1.06% $10,000 $14,999 Learn More
48 Mo CD
1.06% $100,000 $199,999 Learn More
60 Mo CD
1.15% $10,000 $14,999 Learn More
60 Mo CD
1.15% $100,000 $199,999 Learn More
Variable IRA Rates APY MIN MAX
Var IRA
0.20% $1 $499 Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $2,500 $3,499 Learn MoreShow Less

Loan Rates - September 24, 2022

Your Current Location: Washington, WA 98101

There are currently no loan rates available for ISLAND

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:



Featured - Washington 30 Year Fixed Mortgage Rates 2022

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
First Internet Bank
NMLS ID: 424182
6.564% 6.500% 0.63 $1,668 $1,581 Learn More
AimLoan.com
NMLS ID: 2890
License#: 520-CL-25944
6.254% 6.125% 1.00 $3,452 $1,520 Learn More
Morty, Inc.
NMLS ID: 1429243
6.055% 5.990% 0.75 $1,758 $1,498 Learn More
Sammamish Mortgage Company
NMLS ID: 118653
License#: CL-118653
6.321% 6.250% 0.75 $1,880 $1,540 Learn More

Featured - Washington Home Equity Line Of Credit Rates 2022

Lender APR (%)? Monthly Payment? Learn More
BMO Harris Bank
BMO Harris Bank
See Table
Intro APR
3.240 %
After Intro: 6.890 %
Intro Period: 6 months
$0 Learn More
More Info

Note to ISLAND
To upload and update your bank's rates please register. It is free to register and add rates.


 

Branches

Below are Island branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Seattle,Washington


Island Locations



Climate Initiatives

ISLAND is encouraged to provide us with this information. When we receive this information from the credit union, we will provide it here.

Financial Details

Island Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Island. The data is provided by the NCUA. All credit unions on BestCashCow, except those specified as not NCUA-insured in the overview section above, are NCUA-insured. Depositors should be careful to remain within NCUA insurance limits.

Texas Ratio
Island U.S. Average
4.66% 4.75

The Texas Ratio compares the amount of loans at risk and assets repossessed with the amount a credit union has on hand to cover any losses. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a credit union has to absorb its loan losses.

As of March 31, 2022, Island had $6,390,537 in non-current loans and $15,000 in owned assets. To cover these potential losses it had $132,226,411 in net worth and $5,358,650 in loans loss reserves. That gives it a Texas Ratio of 4.66%.

Net Worth
Island U.S. Average
8.82% 12.28%

Island FCU has a net worth of 8.82% versus the BestCashCow average of 12.28. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.

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