Rates – Effective Date:
Savings & Checking Accounts
APPLY NOW(cannot apply for IRAs online)
Account Type | Annual Percentage Rate | Annual Percentage Yield |
Regular Savings1
|
.05%
|
.05%
|
Holiday Club or Vacation Club1
|
.05%
|
.05%
|
Escrow1
|
.05%
|
.05%
|
Checking2
|
.05%
|
.05%
|
Reg. IRA Savings1
|
.20%
|
.20%
|
Money Market Plus - Variable Rate1
|
.10%
|
.10%
|
Money Market Gold - Variable Rate1
|
|
|
Tier 1 Up to $49,999.99
|
.05%
|
.05%
|
Tier 2 $50,000 - $99,999.99
|
.25%
|
.25%
|
Tier 3 $100,000 - $249,999.99
|
.30%
|
.30%
|
Tier 4 $250,000 - $499,999.99
|
.40%
|
.40%
|
Tier 5 $500,000 - $999,999.99
|
.50%
|
.50%
|
Tier 6 $1,000,000 & Over
|
.50%
|
.50%
|
*APY=Annual Percentage Yield. 1Variable rate accounts. Rates and terms are subject to change without notice. 2Checking: $2,500 minimum to earn interest. 3Fixed rate accounts. Minimum balance to open and receive rate: $1,000 for regular; $500 for Kids. Share account with $1 minimum balance is required. Disclaimer: Island Federal makes every effort to ensure that the information posted is current and accurate; however, we make no warranties of any kind, expressed or implied. Membership eligibility applies.
Certificates
OPEN ONE NOW(IRAs cannot be opened online)
Account Type | Annual Percentage Rate | Annual Percentage Yield |
3 - Month
|
0.40%
|
0.40%
|
6 - Month
|
0.50%
|
0.50%
|
12 - Month
|
0.50%
|
0.50%
|
24 - Month
|
0.50%
|
0.50%
|
36 - Month
|
0.60%
|
0.60%
|
48 - Month
|
0.70%
|
0.70%
|
60 - Month
|
0.85%
|
0.85%
|
IRA SAVINGS - Traditional and Roth1
|
.20%
|
.20%
|
*APY=Annual Percentage Yield. 1Variable rate accounts. Rates and terms are subject to change without notice. 2Checking: $2,500 minimum to earn interest. 3Fixed rate accounts. Minimum balance to open CD's $1,000 for regular; $500 for Kids. Penalties may be imposed for early withdrawal. Account eligibility applies. Share account with $1 minimum balance is required. Disclaimer: Island Federal makes every effort to ensure that the information posted is current and accurate; however, we make no warranties of any kind, expressed or implied. Membership eligibility applies.
Consumer Loans
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Product | | | Fixed Rate APR as low as | | Fixed Rate APR as low as | Variable Rate APR as low as |
Vehicle Loan (Secured)
|
New
|
Used
|
|
Used |
|
|
12 Months
|
2021+ |
2014+
|
2.59%
|
2011 - 2013
|
5.99% |
|
24 Months
|
2021+ |
2014+
|
2.59%
|
2011 - 2013
|
5.99% |
|
36 Months
|
2021+ |
2014+
|
2.59%
|
2011 - 2013
|
5.99% |
|
48 Months
|
2021+ |
2014+
|
2.59%
|
2012 - 2013
|
5.99% |
|
60 Months
|
2021+ |
2014+
|
2.59%
|
2013
|
5.99% |
|
72 Months
|
2021+ |
2014+
|
2.89%
|
|
|
|
84 Months
|
2021+ |
2015+
|
3.29%
|
|
|
|
96 Months
|
2021+ |
2016+
|
4.29%
|
|
|
|
First Time Car Buyer Program
|
2021+ |
2014+
|
5.59%
|
2011 - 2013
|
8.99% |
|
Boat & RV Loan (Secured) |
|
|
|
|
|
|
12-48 Months |
2021+ |
2010+ |
4.99% |
|
|
|
60-72 Months
|
2021+ |
2012+
|
5.49%
|
|
|
|
84 Months
|
2021+ |
2013+
|
6.49%
|
|
|
|
85-120 Months
|
2021+ |
2016+ |
6.99%
|
|
|
|
121-144 Months |
2021+ |
2018+ |
7.99% |
|
|
|
145-180 Months |
2021+ |
2021+ |
8.49% |
|
|
|
Motorcycle Loans |
|
|
|
|
|
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60-month max term (new only) |
2021+ |
|
4.99% |
|
|
|
Unsecured (Personal) Loan
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|
|
|
|
|
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12 - 36 Months
|
|
|
6.99%
|
|
|
|
48 Months
|
|
|
7.49%
|
|
|
|
60 Months
|
|
|
7.99% |
|
|
|
Shared Secured (Dividend + 3.00%)
|
|
|
N/A
|
|
|
3.25% (12-60 months)
|
Credit Card
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|
|
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|
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Island Credit Mastercard Credit Card
|
|
|
|
|
|
7.95% |
Overdraft Protection Line of Credit
|
|
|
N/A
|
|
|
7.00%
|
Student Choice College Loans
|
|
|
|
|
|
CLICK HERE
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Student Choice Private Consolidation Loans
|
|
|
|
|
|
CLICK HERE
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* All rates and terms are subject to change without notice. All offers are subject to credit approval; applicants may be offered credit at a higher rate and other terms. Other conditions may apply. Share account with $1 minimum balance is required. Disclaimer: Island Federal makes every effort to ensure that the information posted is current and accurate; however, we make no warranties of any kind, expressed or implied. Membership eligibility applies.
Home Equity Loans
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Product | Fixed Rate APR as low as: | Variable Rate APR as low as: |
Home Equity Line Of Credit (No Closing Costs3)
|
1.79% Introductory Rate for 12 months4
|
Prime Rate 3.25%
|
Fixed Rate Home Equity Loan+
|
|
|
12-108 Months (No Closing Costs)
|
3.99%
|
|
120 Months (No Closing Costs)
|
4.29%
|
|
121-240 Months (No Closing Costs)
|
4.99%
|
|
Fixed Rate Home Equity Secured Balloon Loan
|
|
|
240 Months
|
4.00%
|
|
APR = Annual Percentage Rate. Rates and terms are subject to change without notice. All offers of credit are subject to credit approval; applicants may be offered credit at higher rates and other terms. Loan rates featured are the lowest for the product advertised. Loan-to-value restrictions may apply. Hazard insurance is required on all loans secured by real property; flood insurance may also be required. Rates advertised are for primary residence and properties located in New York. 3No Closing Costs option is only available for limits up to $500,000. Property must be the primary residence and located in Nassau or Suffolk County. Mortgage tax and Recording Fees must be paid by borrower if residence is not in Nassau or Suffolk County. Other terms and restrictions apply to properties located outside of New York State. HELOC is a variable rate product. Interest may be tax deductible (consult your tax advisor). 4The introductory rate for HELOC is 1.79% APR for 12 months for borrower(s) who maintain the minimum balance requirements for the first 12 months after the funding date of the Line of Credit. (HELOC limits up to $250,000=$25,000; $250,000.01-$500,000=$50,000 and $500,000.01-$1,000,000=$100,000.) Minimum balance requirements must also be maintained for 36 months after the funding date of the Line of Credit to avoid payment of closing costs. Introductory Rate is not available to members who have an existing Island Home Equity Line of Credit. After the introductory period, your APR will vary with the market based on the Prime Rate. Prime Rate is currently 3.25%. Borrower may obtain credit advances for 10 years. +Fixed Rate Home Equity Loans - No Closing Costs option is only available for loan amounts up to $500,000. Property must be the primary residence and located in Nassau or Suffolk County. Mortgage tax and Recording Fees must be paid by borrower if residence is not in Nassau or Suffolk County. Other terms and restrictions apply to properties located outside of New York State. Interest may be tax deductible (consult your Tax Advisor). Monthly loan payments must be paid by automatic deduction from an Island FCU checking account. Loans payments not automatically deducted will have a 1.00% increase to the applicants qualifying rate. Loan must remain open for 36 months to avoid payment of closing costs. Disclaimer: Island Federal makes every effort to ensure that the information posted is current and accurate; however, we make no warranties of any kind, expressed or implied. Membership eligibility applies.
Mortgages
Mortgage Rates effective on the date indicated below.
Product | Fixed Rate APR as low as: | Variable Rate APR as low as: |
Mortgage**
|
Rates Change Daily; Rates/APR as of 02/23/2021
|
|
Fixed Rate (refundable lock in fee++)
|
|
|
10-Year (60-Day Rate Lock)
|
2.250%/2.417%
|
|
15-Year (60-Day Rate Lock)
|
2.375%/2.491%
|
|
20-Year (60-Day Rate Lock)
|
2.625%/2.719%
|
|
30-Year (60-Day Rate Lock)
|
2.750%/2.816%
|
|
Adjustable Rate Products
|
|
|
1-Year Non-convertible
|
2.375%/2.808%
|
|
3/1 Fixed Period Adjustable
|
2.500%/3.911%
|
|
5/1 Fixed Period Adjustable
|
2.500%/3.704%
|
|
7/1 Fixed Period Adjustable
|
2.625%/3.580%
|
|
10/1 Fixed Period Adjustable
|
2.750%3.441%
|
|
My Community Mortgage
|
|
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**1st Time Homebuyers** 3% down
|
Call for rates
|
|
95% Financing for Purchasers
|
90% Financing for Rate/Term Refinances
|
|
97% Financing for Purchasers - 1st Time Homebuyers
|
|
APR = Annual Percentage Rate. Rates and terms are subject to change without notice. All offers of credit are subject to credit approval; applicants may be offered credit at higher rates and other terms. Loan rates featured are the lowest for the product advertised. Loan-to-value restrictions may apply. Hazard insurance is required on all loans secured by real property; flood insurance may also be required. Rates advertised are for primary residence and properties located in New York. ++Lock in fee is refunded at closing. Loan must close within 60 days.**Mortgage rates change daily. Lower rates are available with payment of "points." The 1% 60-day rate lock is refunded at closing provided you close mortgage within 60 days of date rate is locked in. Members who do not lock in a rate will be given the rate in effect ten (10) calendar days prior to closing. Share account with $1 minimum balance required. APR based on a $165,000 Convention loan assuming the highest credit rating.***Mortgage Special: Must have a 700 FICO Score and Loan to Value must be 70% or less/Monthly payments must be automatically deducted from an Island FCU checking account for life of loan. One family primary residence in Nassau or Suffolk County. APR based on a $165,000 Convention loan assuming the highest credit rating. Disclaimer: Island Federal makes every effort to ensure that the information posted is current and accurate; however, we make no warranties of any kind, expressed or implied. Membership eligibility applies.
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