Island Federal Credit Union

Rates

  • Savings & Checking
  • Certificates
  • Loans
  • Home Loans

SAVINGS & CHECKING ACCOUNTS*

Effective Date: September 2, 2014

Account Type Annual
Percentage
Rate
Annual
Percentage
Yield
Regular Savings1 .10% .10%
Holiday Club or Vacation Club1 .10% .10%
Escrow1 .10% .10%
Checking2 .05% .05%
     
Reg. IRA Savings1 .25% .25%
Money Market Plus - Variable Rate1 .15% .15%
Money Market Gold - Variable Rate1    
Tier 1    Up to $49,999.99 .10% .10%
Tier 2    $50,000 - $99,999.99 .30% .30%
Tier 3    $100,000 - $249,999.99 .40% .40%
Tier 4    $250,000 - $499,999.99 .50% .50%
Tier 5    $500,000 - $999,999.99 .50% .50%
Tier 6    $1,000,000 & Over .50% .50%

*APY=Annual Percentage Yield. 1 Variable 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. Membership in Island Federal Credit Union 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). Share account with $1 minimum balance required.

CERTIFICATE ACCOUNTS* - Fixed Rate3 (Regular, IRA, Roth & Kids)

Effective Date: January 7, 2015

Account Type Annual
Percentage
Rate
Annual
Percentage
Yield
3 -  Month .35% .35%
6 -  Month .40% .40%
9 -  Month   *60TH ANNIVERSARY SPECIAL* .60% .60%
12-  Month .50% .50%
13 - Month SPECIAL 0.75% 0.75%
24 - Month 1.24% 1.25%
30 - Month  *60TH ANNIVERSARY SPECIAL* 1.59% 1.60%
36 - Month 1.44% 1.45%
48 - Month SPECIAL 1.98% 2.00%
60 - Month SPECIAL 2.08% 2.10%
IRA SAVINGS - Traditional and Roth1 .25%

 .25%

84 - Month (IRA ONLY)  *60TH ANNIVERSARY SPECIAL* 2.57& 2.60%

**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.Penalties may be imposed for early withdrawal. 4 New Money Special CDs are open for money deposited from another financial institution and not funds already on deposit at Island. Membership in Island Federal Credit Union 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). Share account with $1 minimum balance required

CONSUMER LOANS*

Effective Date:September 2, 2014

Product     Fixed Rate APR
as low as
Variable Rate APR
as low as
Vehicle Loan (Secured)  *60TH ANNIVERSARY SPECIALS UP TO 60 MONTHS* New Used    
    12 Months   2008+ 1.60%  
    24 Months   2008+ 1.60%  
    36 Months   2008+ 1.60%  
    48 Months   2009+ 1.60%  
    60 Months   2010+ 1.60%  
    72 Months   2011+ 1.99%  
    84 Months   2012+ 2.38%  
Unsecured (Personal) Loan        
    Up to 60 Months  *60TH ANNIVERSARY SPECIAL*     6.60%  
Shared Secured(Dividend + 3.00%)     N/A 3.25%
(12-60 months)
Island MasterCard        
    Best Rate MasterCard     N/A 7.95%
    Best Rewards World MasterCard     N/A 9.95%
         
Overdraft Protection Line of Credit     N/A 5.50%
         
Student Choice College Loans       5.00% 
Student Choice Private Consolidation Loans       5.00%

* All rates and terms are subject to change without notice. All offers are subject to credit approval; applicants may be offered credit at higher rate and other terms. Other conditions may apply. Homeowners insurance required on all loans secured by real property; flood insurance may also be required. Membership in Island Federal Credit Union 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). Share account with $1 minimum balance required.

HOME LOANS*

Effective Date: February 4, 2015 Note: Mortgage Rates effective on the date indicated below.

Product Fixed Rate APR
as low as:
Variable Rate APR
as low as:
 

Home Equity Line Of Credit                       (No Closing Costs)

1.99% 1-Year Introductory Rate4 Prime Rate +0%  
       
Quick Home Secured Loan (Fixed Rate Home Equity Loan)+      
    48 Months (No Closing Costs) 3.25%    
    60 Months (No Closing Costs) 3.25%    
    72 Months (No Closing Costs) 3.25%    
    84 Months (No Closing Costs) 3.25%    
    96 Months (No Closing Costs) 3.25%    
    108 Months (No Closing Costs) 3.25%    
    120 Months (No Closing Costs) 3.25%    
    180 (No Closing Costs)  *60TH ANNIVERSARY SPECIAL* 3.60%    
    240 Months  *60TH ANNIVERSARY SPECIAL* 4.60%    
Quick Home Secured Balloon Loan      
    240 Months 3.00%    
       
Mortgage** Rates Change Daily; Rates/APR as of 05/22/2015    
Fixed Rate      
     15-Year Special*** 2.625%/2.742%    
    10-Year Special *** 2.500%/2.669%    
    10-Year (60-Day Rate Lock) 2.625%/2.757%    
    15-Year (60-Day Rate Lock) 2.750%/2.867%    
    20-Year (60-Day Rate Lock) 3.500%/3.594%    
    30-Year (60-Day Rate Lock) 3.750%/3.819%    
Adjustable Rate Products      
    1-Year Non-convertible 2.125%/2.683%    
    3/1 Fixed Period Adjustable 2.250%/2.644%    
    5/1 Fixed Period Adjustable 2.375%/2.695%    
    7/1 Fixed Period Adjustable 2.500%/2.606%    
    10/1 Fixed Period Adjustable 2.625%/2.532%    
My Community Mortgage      
    **1st Time Homebuyers**  3% down Call for rates    
No Closing Cost Mortgage      
    20-Year Fixed 3.750%/3.750%    
    30-Year Fixed 4.000%/4.000%    
       

95% Financing for Purchasers

97% Financing for Purchasers - 1st Time Homebuyers

90% Financing for Rate/Term Refinances

   

*All rates and terms are subject to change without notice. All offers are subject to credit approval; applicants may be offered credit at higher rate and other terms. Other conditions may apply. Homeowners insurance required on all loans secured by real property; flood insurance may also be required.

4 Introductory Rate for 12 months.  New Loans only. To receive this rate an initial advance of $25,000 must be taken at closing and the balance must remain at $25,000 for the first 12 months. HELOC is a variable rate product. After the initial 12 months, the prime rate will apply. As of 1/1/13 the prime rate equals 3.25%.See HELOC product description for more details. Mortgage tax must be paid by borrower if residence in not in Nassau County or Suffolk County.

+For Quick Home Secured Loans with No Closing Costs the monthly payments must be paid by automatic deduction from an Island checking account otherwise add 1.00% to rate. For terms over 120 months, add .25% to rate listed for No Closing Costs option. For loans over over $300,000, full title policy required and paid by member. Rates listed require the borrower to pay closing costs.

**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 seven (7) calendar days prior to closing. Membership in Island Federal Credit Union 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). 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. Rate lock fee does not apply. One family primary residence in Nassau or Suffolk County. APR based on a $165,000 Convention loan assuming the highest credit rating.

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