Help

Q: What's the difference between a credit union and a bank?

A: Credit unions like Island offer nearly every service as a bank including savings accounts, checking accounts, loans and mortgages. The difference between a credit union and a bank is their ownership: Banks, whether they are large or small, are owned by outside stockholders. Credit unions, like Island, are owned only by their members, so our profits our returned to our member owners exclusively. Those returns come in the form of better rates, lower fees and enhanced services.

Q: Who can join Island?

A: Anyone who lives, works, worships or attends school in Nassau County or Suffolk Country with the exception of the townships of East Hampton, Southampton or Shelter Island are eligible to join Island.

Q: Is there a waiting period after joining before I can apply for services or a loan?

A: No. Your $1 minimum balance in regular savings makes you eligible for all services.

Q: How long does it take for direct deposit to start?

A: In most cases, about two weeks from the date your employer receives your authorization form. If you are paid weekly or every other week, allow one pay cycle.

Q: Can I have direct deposit sent to more than one place?

A: Most employers allow deposits for two institutions.

Q: Can I have my direct deposit to the credit union split among several accounts?

A: Yes.

Q: Can I use direct deposit to make deposits to my children's accounts?

A: Yes. List the Member Account Number and account suffix to which the deposit is to be made.

Q: If I make loan payments by direct deposit, what happens to the deposit when the loan is paid?

A: We deposit it to your regular savings account until you stop or re-direct the deposit.

Q: Are there fees for Island's Debit Card or ATM card?

A: There is no fee to have either card, and no transaction fee when you use either card at an ATMs owned by Island FCU, Shared Service Centers, King Kullen® supermarkets, Wild by Nature® markets or Co-Op Network. You can also use the Debit Card for purchases at point-of-sale. There is a 75 cent transaction fee when you use either card at ATMs not owned by IFCU, or is not part of our networks. Surcharges at ATMs owned by other institutions may also apply. To avoid unnecessary transaction fees at non-IFCU ATMs, we recommend using your card only for cash withdrawals. For balance inquiries and transfer of funds, use TouchTone Teller, our free 24-hour telephone banking service.

Q: When I use the Debit Card to make purchases, is there a finance charge?

A: No. There is no transaction fee or finance charge when you use your CheckCard to make purchases. It's the same as writing a check except that the money comes out of your Island checking account at the time of the transaction. Visa simply provides the electronic link.

Q: What is the cash withdrawal limit at ATMs?

A: $500 per day. Of course, you must have the funds in your account at time of withdrawal. Some institutions set limits below $500 on their ATMs, especially during the holidays when demand is greater. In such cases, the limit on that ATM applies. 

Q: When are transactions posted to my account?

A: Transactions are posted as they are entered.

Q: How do I view my account history?

A: Select Account Summary. Each account listing is underlined. Click on the underlined listing you want and the history screen for that account will open.

Q: Can I change my password?

A: Yes. Log onto Home Banking, click on User Options and you will see instructions for changing your password.

Q: When can I start using Bill Payer?

A: Registration for Bill Payer is done on line and confirmed by e-mail within 72 hours. You may begin using Bill Payer immediately upon confirmation.

Q: Can I pay any bill with Bill Payer?

A: There may be rare exceptions, but you can pay practically anyone. Please note, however, that the IRS, other taxing entities and court-appointed payees do not accept Bill Payer.

Q: How long does it take for a bill to be paid?

A: If a payee is not equipped for electronic payment, it can take up to 10 business days. Otherwise, funds are transmitted the same day.

Q: How do I make changes to my payee list?

A: You can do it online. If you are adding a payee, it takes about five days to set up the payment link.

Q: How do I delete a payee?

A: Pending payments must be deleted before a payee can be deleted. To delete a payee:

• Click the View Payments button. The View Payments screen appears.
• In the fields under Next Payment Date Range, enter the "From" and "To" dates for the pending payment.
• Click the Next Date Range button. All pending payments falling between these selected dates will be displayed within the View Payments screen.
• Click the checkbox next to the payment to be deleted.
• Click the Delete Payments button. The payment will be deleted from the view payment summary.
• Click the Payee button.
• Click the checkboxes of the payees to be deleted.
• Click the Delete Payee button. A new screen appears showing payee(s) to be deleted.
• To abort and return to the Payee list, click the Cancel button; or
• Click the Delete button to permanently delete the payee(s) from the payee list.
• A deleted payee confirmation screen will confirm this payee has been deleted.

Q: Can I use Bill Payer overseas?

A: Yes. All you need is access to the World Wide Web on a secure browser.