Dec, 31, 2023 — ISLAND FEDERAL CREDIT UNION is a federal credit union headquartered in HAUPPAUGE, NY with 11 branch locations and about $1.50 billion in total assets. Opened 69 years ago in 1955, ISLAND FEDERAL CREDIT UNION has about 51,634 members and employs 166 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 |
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Address: (Main Office) | 120 Motor Pkwy HAUPPAUGE, NY 11788-5107 |
Phone: | (631) 851-1100 |
Fax: | (631) 851-1112 |
Website: | https://www.islandfcu.com |
Branches: | 11 branch locations |
Members: | 51,634 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 10023 |
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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, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $1,499,221,742 |
CEO/Manager: | Craig A Booth |
Chairperson: | John F Adragna |
ASSETS: | $ Amount |
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Cash & Equivalents | 20,318,112 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 424,008 |
Real Estate Loans | 797,983,591 |
Unsecured Loans | 52,391,601 |
Other Loans | 236,597,093 |
TOTAL LOANS | 1,088,367,114 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,870,667 |
Land And Building | 13,863,865 |
Other Fixed Assets | 7,706,468 |
NCUSIF Deposit | 10,313,644 |
All Other Assets | 122,400 |
TOTAL ASSETS | 1,499,221,742 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 2,391 |
Notes & Interest Payable | 214,550,000 |
Accounts Payable & Other Liabilities | 22,317,167 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 139,769,681 |
Regular shares | 240,908,829 |
All Other Shares & Deposits | 808,955,569 |
TOTAL SHARES & DEPOSITS | 1,189,634,079 |
TOTAL LIABILITIES | 1,426,503,637 |
Regular Reserve | 0 |
Other Reserves | -63,724,221 |
Undivided Earnings | 136,442,326 |
TOTAL EQUITY | 72,718,105 |
TOTAL LIABILITIES, SHARES, & EQUITY | 1,499,221,742 |
INCOME & EXPENSE | |
Loan Income | 47,934,272 |
Investment Income | 6,788,268 |
Other Income | 1,630,019 |
Total Employee Compensation & Benefits | 18,525,311 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 15,730,105 |
Non-operating Income & (Expense) | 1,039,799 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,170,399 |
Cost of Funds | 25,489,350 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 2,970,712 |
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