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Island Federal Credit Union

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Island Federal Credit Union (Island Federal) will award $50,000 in college scholarships to graduating seniors in June 2024. Long Island high school seniors who plan to continue their education at a university, college, community college or recognized vocational school are invited to apply.

The Island Federal Scholarship Program provides scholarships to 11 local high school seniors with 3 recipients receiving $10,000 and 8 receiving $2,500, all selected by random drawing among qualified applicants. There are no essays or transcripts required to enter.

For complete requirements and applications, go to islandfcu.com/scholarship or visit any Island branch. Applications are due no later than Friday, April 19.

“Island Federal’s mission is to enable Long Islanders to achieve their dreams for themselves and their families; that includes helping them afford a college education. Since the launch of the Island Federal Scholarship Program in 1992, Island has given out $855,000 in scholarships to a total of 363 recipients,” said Craig Booth, Interim President/CEO, Island Federal, who continues, “I look forward to presenting the scholarships to the 2024 recipients this spring.”

About Island Federal Credit Union

Island Federal Credit Union, headquartered in Hauppauge, N.Y., is a not-for-profit, full-service financial institution, providing affordable banking products and services to Long Islanders. Founded in 1955, Island has grown to be among the top performing credit unions in New York State with $1.4 billion in assets, serving over 50,000 Members.

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Matt Campo, CEO of RMHC NY Metro receives a check from Chris Murray/Vice President of Marketing at Island Federal. Photo courtesy of Island Federal

Island Federal Credit Union (Island Federal) closed out 2023 by donating to Ronald McDonald House Charities New York Metro (RMHC NYM) to support their work with families that have a child receiving emergency medical care.

Island Federal donated $20,000 to support the construction of a new Ronald McDonald House at Stony Brook Children’s Hospital. Also, through the generosity of its employees and members, Island Federal presented more than 10 boxes of toys and games for families staying at RMHC NYM facilities to make their children’s holiday a little more enjoyable.

“Ronald McDonald House Charities New York Metro does an amazing job serving families who have seriously ill children, both at their house in New Hyde Park and at Stony Brook Children’s Hospital through their Family Rooms,” said Chris Murray, VP/Marketing, Island Federal. “When we heard that they were launching a capital campaign to build a new Ronald McDonald House at Stony Brook Hospital, we were anxious to help.”

“We have seen the number of families that we serve in Suffolk County continue to grow and so a new Ronald McDonald House at Stony Brook Hospital is essential to supporting families there,” said Matt Campo, CEO, RMHC NY Metro. “This new house will provide comfort and overnight accommodations just like our New Hyde Park house, offering the parents and siblings of these children a temporary haven in a secure and comfortable environment among other families sharing a similar burden.”

Ronald McDonald House Charities New York Metro (RMHC NYM) provides free lodging, meals, and emotional support to keep families seeking medical treatment for their sick children near the care they need and the families they love.

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From left, Craig W. Booth, EVP/COO, Island Federal; Dominick Trapani, Bradley Wyckoff, Lily Jackett, Kaitlin Stephens; Ashley Burke; Gemma Cartwright; Anna Rostkowski; Madison Sosnowski; Chris Murray, VP/Marketing; Island Federal. Not pictured: Lily Amato, Liam McGough, and Tabitha Schully. Photo from Island Federal

For the 31st consecutive year, Island Federal Credit Union (Island  Federal) has awarded college scholarships to graduating seniors from local high schools.  

“Island Federal’s mission is to help Long Islanders achieve their dreams for themselves and  their families. To make college more affordable for local high school graduates, we launched the  Island Federal Scholarship Program in 1992,” said Bret W. Sears, President/CEO, Island  Federal.   “Since its inception, the Island Federal Scholarship Program has awarded more than 363  scholarships totaling $855,000 to local high school graduates. Once again this year, we are proud to provide scholarships to 11 local seniors to help finance their higher  education.” 

The following is a list of 2023 recipients who will share $50,000 in scholarships: 

$10,000 winners: Ashley Burke, Babylon, Babylon High School; Bradley Wyckoff, Levittown, Chaminade High School; and Gemma Cartwright, Huntington, Huntington High School

$2,500 winners: Anna Rostkowski, Oakdale, Connetquot High School; Dominick Trapani, Bellmore, Mepham High School; Kaitlin Stephens, Hauppauge, Hauppauge High School; Liam McGough,  Southold, Southold High School; Lily Amato, St. James, Smithtown East High School; Lily Jackett, Port Jefferson, Ward Melville High School; Madison Sosnowski, Farmingdale, Farmingdale High School; and Tabitha Schully, Port Jefferson, Port Jefferson High School.

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Photo courtesy of RMHC NYM

More than 250 guests turned out in their fall fashions to honor Island Federal Credit Union at the Ronald McDonald House Charities (RMHC) NY Metro 5th Annual Fall Celebration at Flowerfield in St. James, on Nov. 9. The event raised more than $125,000 for programs in Suffolk County. 

Members of the Island Federal Credit Union Board of Directors and Management Team were on hand for the celebration, including Island Federal Credit Union Branch Manager Jose Melendez and his family, who spoke about their personal connection to the Ronald McDonald House and the positive impact the organization has had on their lives. 

The funds will go toward the ongoing operation of RMHC NYM’s two Family Rooms at Stony Brook Children’s Hospital and Stony Brook Medicine Neonatal Intensive Care Unit, which opened earlier this year. RMHC NYM intends to build a new house on the grounds of Stony Brook Hospital in the near future that will to accommodate families from across Suffolk County who have a sick child receiving care in the area. 

“This was a terrific celebration of the work we have done and what we plan to do — specifically in Suffolk County — in the future,” said Matt Campo, CEO of RMHC NY Metro. “We depend so much on the support of our community, which donates their money and their time, to help the families that come to us in their greatest hour of need. We thank each and every one of them from the bottom of our hearts.” 

“Suffolk County has a tremendous need for a Ronald McDonald House, and we are determined to raise the funds to build it,” said Nick Croce, Board Member and Co-Chair of the Suffolk County Advisory Board for RMHC NYM. “We’ve raised $16.5 million already and with this kind of sustained support, we will be putting the shovel in the ground before we know it.” 

Pictured from left, Chris Murray, VP Marketing; Larry Dunn, Senior Director of Sales & Membership Experience; Damon Rivera, VP Technology; Paul Scollan, Board of Director; Matt Campo, RMHC NYM President; Bret Sears, Island President & CEO; Jeannine Bowden, AVP; John Adragna, Board Chairman; Craig Booth, SVP/COO; Tim Aaraas, VP Retail Lending; Catherine Roger, Director of Branch Operations; Jose Melendez, Hauppauge Branch Manager; Elizabeth Cardone, Board of Director; Vinny Accardi, Member Success Specialist.

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METRO photo

Island Federal Credit Union (Island Federal) has announced a new mortgage program to make it more affordable for first-time buyers to purchase a home on Long Island. For those who qualify, Island Federal’s Cut-the-Cost Mortgage Program reduces closing costs up to $5,000.

“Throughout our history, Island Federal has offered innovative programs to make homeownership possible for more Long Islanders. In 2018, we introduced the Dream it. Achieve it. Mortgage to allow up to 100% financing. We also offer the Heroes Mortgage that waives underwriting fees (approximately $600) for those who serve in the military, education, medical, or other service professions. The Cut-the-Cost Mortgage Program is the latest addition to the suite of products that enable first-time buyers to afford a home,” said Bret W. Sears, President/CEO, Island Federal.

“The Cut-the-Cost Mortgage Program is a terrific program for the first-time buyer as Island Federal provides up to $5,000 towards closing costs for those who qualify. While there are other mortgage programs that claim to offer ‘no closing costs,’ purchasers discover that their programs do not cover all fees. With our program, buyers will know what the costs will be, so there will be no surprises at closing,” added Tim Aaraas, Vice President/Retail Lending.

Aaraas continues, “In addition to specialized programs, Island Federal offers no-obligation seminars that review the mortgage process from application to closing. For Spanish-speaking home buyers, Island has mortgage professionals that are bilingual. To make it more convenient to apply, we have an Island-Easy Online Mortgage application that can be completed in as little as 10 minutes. Most of us dream of owning our own home. At Island, we want to make that possible.”

To learn more about Island Federal’s Mortgage options, visit www.islandfcu.com/mortgage.

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Island Federal Credit Union (Island Federal) has joined forces with Sal DiBenedetto, the well-known digital media producer also known as “The Grubfather,” to support a special effort to fight hunger on Long Island. Together they launched “Spread the Love February Grub Drive” in support of Long Island Cares. The campaign will run throughout the month of February 2022.

From left, Chris Murray and Sal DiBenedetto. Photo from Island Federal

“For more than a decade, Island Federal has supported Long Island Cares in its mission to combat hunger on Long Island. Now, working in partnership with the hugely popular Grubfather Sal DiBenedetto, we are expecting a tremendous response,” said Chris Murray, VP/Marketing, Island Federal. “Our goal is to raise $5,000 this month, but I do believe we can far exceed that.”

Sal DiBenedetto responds, “I’m extremely proud to work with Island Federal on projects that enhance the life of Long Islanders. As fans know, I feature great meals on my Grubfather digital media. What we often forget is that, despite the abundance of great food on Long Island, there are more than 259,000 Long Islanders who remain food insecure, nearly a third of whom are children. That’s why we decided to do this joint fundraiser for Long Island Cares.”

Murray continues, “February is the perfect month to show the love to our fellow Long Islanders. And we’ve made is especially easy to donate from your computer or phone in minutes. Our Island team worked with Long Island Cares to develop a secure website to let you make a cash donation in minutes and see the amount of food it will purchase.”

The “Spread the Love February Grub Drive,” which will run through Feb. 28, will be 100% virtual. To donate, visit islandfcu.com/grubdrive or the TheGrubfather Instagram page now through end of the month.

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Mt. Sinai teachers honored for their mentorship at halftime in the Mustang's homecoming game Oct 16. Bill

Section XI and Island Federal Credit Union have announced a new, innovative partnership to help support interscholastic sports in Suffolk County, establish financial literacy campaigns to support young men and women within our community, and award scholarships to deserving scholar athletes from Long Island.

“We are proud of this partnership because it represents large brands coming together for the sake of education and community involvement,” said Section XI Executive Director Tom Combs. “Between the events we’ll co-host, the creation of awards for student-athletes and the promotion of content on our pages, this was a no-brainer that we hope will enrich the organizations and our respective communities.”

One of the key aspects of this emerging partnership is the establishment of two scholar- athlete scholarships to be awarded to graduating seniors who embody athletic success, academic excellence, and a demonstration to improving the Long Island community. Coaches and athletic-directors will be able to nominate their players throughout the year with winners being announced in June.

Additionally, Island Federal has teamed up with Stony Brook University Athletic Department to host virtual financial literacy seminars designed to assist students and their families navigate the process of student loans, grants, scholarships, name, image, & likeness legislation, and other financial factors facing today’s college students and collegiate student-athlete.

“Island Federal is proud to support Section XI and high school sports throughout Suffolk County. Many of our employees, Members, and their children have participated in interscholastic sports during their high school years and can reminisce on wins and losses and time spent with close friends and teammates,” said Bret Sears, Island Federal Credit Union President and CEO. 

“We fully believe in the tremendous impact that safe and organized extracurricular activities play in the high school experience and in our communities. Additionally, on top of our financial commitment to Section XI, we are very proud to be offering scholar-athlete scholarships to Long Island students attending college next Fall,” he said.

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