Sep, 30, 2025 — ISLAND FEDERAL CREDIT UNION is a federal credit union headquartered in HAUPPAUGE, NY with 9 branch locations and about $1.41 billion in total assets. Opened 71 years ago in 1955, ISLAND FEDERAL CREDIT UNION has about 51,448 members and employs 130 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ISLAND FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 120 Motor Pkwy HAUPPAUGE, NY 11788-5152 |
| Phone: | (631) 851-1100 |
| Fax: | (631) 851-1112 |
| Website: | https://www.islandfcu.com |
| Branches: | 9 branch locations |
| Members: | 51,448 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 10023 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,410,058,032 |
| CEO/Manager: | Craig A Booth |
| Chairperson: | Richard A Rapp, Jr. |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 69,656,288 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 522,281 |
| Real Estate Loans | 762,084,814 |
| Unsecured Loans | 39,126,548 |
| Other Loans | 194,392,294 |
| TOTAL LOANS | 996,474,116 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -7,040,219 |
| Land And Building | 5,878,455 |
| Other Fixed Assets | 5,983,074 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 10,177,821 |
| All Other Assets | 71,527 |
| TOTAL ASSETS | 1,410,058,032 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 170,001,000 |
| Accounts Payable & Other Liabilities | 21,942,029 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 137,031,401 |
| Regular shares | 234,855,600 |
| All Other Shares & Deposits | 762,399,641 |
| TOTAL SHARES & DEPOSITS | 1,134,286,641 |
| TOTAL LIABILITIES | 1,326,229,670 |
| Regular Reserve | 0 |
| Other Reserves | -48,848,014 |
| Undivided Earnings | 132,676,376 |
| TOTAL EQUITY | 83,828,362 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,410,058,032 |
| INCOME & EXPENSE | |
| Loan Income | 40,065,649 |
| Investment Income | 6,104,007 |
| Other Income | 1,398,840 |
| Total Employee Compensation & Benefits | 11,364,518 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 10,977,156 |
| Non-operating Income & (Expense) | 1,805,213 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,412,481 |
| Cost of Funds | 25,273,693 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,712,007 |
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