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Island Federal

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.

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.

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.

On Dec. 3, musicians from the Stony Brook Music Department’s Instrument Petting Zoo caroled throughout the Stony Brook Children’s Hospital spreading holiday cheer and joy to the children, families and staff, thanks to funding provided by Island Federal. 

The Staller Center’s Instrument Petting Zoo is a program which helps the Staller Center for the Arts reach out to the community and share live interactive musical experiences for young people. 

“To be able to spend time at the Children’s Hospital and see the smiles on the kids faces and the tears of joy in the parents eyes as the musicians performed holiday music was emotional, but we’re so happy we were able to come together and collaborate in this way,” said Paul Newland, the Staller Center’s Outreach Director. “We are grateful to Island Federal who helped provide the support for this initiative and we’re already planning more musical visits.”