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Island Credit Union

Overview
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Island Credit Union is a federal credit union based in Hauppauge, New York. It has been opened since 1955, for 65 years.

With around $1,562,050,000 in assets, Island Credit Union is considered to be a very large credit union. It has 10 branches and 10 ATM locations.

About
Address 120 Motor Parkway
Hauppauge, New York 11788
Website http://www.islandfcu.com
Phone (631) 851-1100
Fax (631) 851-1112
CEO Bret W. Sears
President of the Board Shirley Watson
Services Offered
Map
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Score Card
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65 years
Years in business
Opened in 1955
Well Capitalized
Net worth classification
Source: NCUA
56,159 members
Membership type: Community credit union
Above average number of members
382:1
Credit union member to staff ratio
382 per each FTE employee
Compared to 411:1 nationally
Average number of staff
$1,562,047,602
Total assets
Above average
10 branches
Compared with an average of 4 nationally and 3 in New York
Above average number of branches
0.05%
Savings interest rate
Compared to 0.3% nationally
10.20%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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10 branches
Compared with an average of 4 nationally and 3 in New York
Above average number of branches
Island Credit Union Branch Locations

Island Credit Union: Bellmore
2752 Sunrise Highway
Bellmore, New York 11710
ATM Available
Island Credit Union: Sb Medicine Branch
Stony Brk Health Science Tower Level 2
Stony Brook, New York 11794
ATM Available
Island Credit Union: Sbu Sac Branch
100 Nicolls Road
Stony Brook, New York 11790
ATM Available
Island Credit Union: North Massapequa Branch
824 Hicksville Road
North Massapequa, New York 11758
ATM Available
Island Credit Union: Brooklyn
1750 86th Street
Brooklyn, New York 11214
ATM Available
Island Credit Union: Sayville
4820 Sunrise Highway
Sayville, New York 11782
ATM Available
Island Credit Union: Hicksville
85 E. Old Country Road
Hicksville, New York 11801
ATM Available
Island Credit Union: Headquarters
120 Motor Parkway
Hauppauge, New York 11788
ATM Available
Island Credit Union: Selden
920 Middle Country Road
Selden, New York 11784
ATM Available
Island Credit Union: Riverhead Branch
1077 Old Country Road
Riverhead, New York 11901
ATM Available
Members
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56,159 members
Membership type: Community credit union
Above average number of members

With 56,159 members, the Island Credit Union is considered to be a very large credit union. It is among the largest of credit unions and is larger than 92% of credit unions.

Fees
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$127
Average fee per member
The average fee per member at the Island Credit Union is $127, which is very high compared to most credit unions. This rate is higher than 93% of all credit unions.
Fees are higher than average

Credit unions, like banks, charge members various fees, such as overdraft fees, ATM fees, credit card fees, inactivity or dormat account fees, and more.

The average fee per member gives you a general sense of how much you might pay in fees as a member of the Island Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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382:1
Credit union member to staff ratio
382 per each FTE employee
Compared to 411:1 nationally
Average number of staff
147 staff members
FTE (full-time equivalent)
9% of employees are part-time
140 full-time, 14 part-time

Island Credit Union has 140 full-time staff members and 14 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 91% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Island Credit Union has around 382 members per staff, an average ratio compared to other credit unions. This is a somewhat well staffed credit union.

Assets
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$1,562,047,602
Total assets
Above average
Net worth
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Well Capitalized
Net worth classification
Source: NCUA
A well capitalized credit union has a net worth ratio of 7% or greater and also meets applicable risk-based net worth requirements, according to the National Credit Union Administration.
8.8%
Net worth ratio
A higher net worth ratio is better.
Compared to an average of 13.6% nationally

A credit union's net worth ratio is one of the most important metrics you should consider when deciding whether to join a credit union. Why? It's a measure of financial strength

The net worth ratio is equal to a credit union's net worth divided by its assets. According to the National Credit Union Administration, a minimum net worth ratio of 7% is required to be considered to be a well capitalized credit union.

Loans & leases
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$26,698
Average loan and lease size
Loan & lease sizes are big! They are bigger than at 96% of credit unions.

Island Credit Union holds a total of $859,540,000 in loans and leases, which is about $26,698 per member on average.

Savings interest rate
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0.05%
Savings interest rate
Compared to 0.3% nationally

A credit union share account is an account at a credit union. It's called a share account because the credit union is member owned and as a result, members own shares in the credit union.

A share savings account pays you interest on your savings, similar to a savings account at a bank. The interest you receive can vary. Island Credit Union pays 0.05%.

Loan rates
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10.20%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
7.75%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
3.25%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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1.99%
New car loan rate
Compared to 4.0% nationally
1.99%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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4.20%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
2.38%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
5.52%
Other real estate loan rates
Compared to 0.9% nationally
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