1 star ratingAverage User Rating:
1 star rating based on 1 review.

LOMTO Federal Credit Union

LOMTO Federal Credit Union Locations
5024 Queens Blvd
Woodside, NY 11377
(212)947-3380
www.lomto.org



LOMTO Federal Credit Union is headquartered in Woodside and is the 42nd largest credit union in the state of New York. It is also the 827th largest credit union in the nation. It was established in 1936 and as of September of 2011, it had grown to 23 employees and 3,022 members. LOMTO Federal Credit Union's money market rates are 3X the national average, and it boasts a 5-star health rating.

LOMTO Federal Credit Union Routing Number: 226074001

Related Posts

Top CD Rates at LOMTO Federal Credit Union in New York City - Local Only - 7/5/2011

LOMTO Federal Credit Union continues to offer some of the best CD rates in New York City. The following rates are listed in the credit union's certificates of deposit page as of 7/5/2011 : 1.15% ...

Top CD and IRA CD Rates at LOMTO FCU in New York City - Local Only - 12/14/2010

LOMTO Federal Credit Union continues to offer some very competitive CD rates. The following rates are listed in the credit union's certificates of deposit page as of 12/14/2010 : 1.25% APY 6 mon ...

Competitive CD Rates at LOMTO FCU in New York City - Local Only - 4/5/2010

LOMTO Federal Credit Union 's CD rates have fallen a little since my last post in February, but they remain competitive, especially the longer terms. The following rates are listed in the credit unio ...

3.00% 24-Month CD Special at LOMTO Federal Credit Union in NYC - Local Only - 2/18/2010

LOMTO Federal Credit Union is having a grand opening special share certificate with a 3.00% APY and a 2-year term. The special is scheduled to last until 2/28/2010. This is listed in the credit union ...

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See Rates for: Money Market | CD | IRA

LOMTO Federal Credit Union Money Market Rates

ApyMinMaxProduct
1.35%$10k-Money Market Share

LOMTO Federal Credit Union CD Rates

ApyMinMaxProduct
2.55%$2k-5 Year CD
2.15%$2k-4 Year CD
1.85%$2k-3 Year CD
1.50%$2k-2 Year CD
1.20%$2k-1 Year CD
1.00%$2k-6 Month CD

LOMTO Federal Credit Union IRA Rates

ApyMinMaxProduct
2.55%$2k-5 Year IRA
2.55%$2k-5 Year Roth IRA
2.55%$2k-5 Year CESA
2.15%$2k-4 Year IRA
2.15%$2k-4 Year Roth IRA
2.15%$2k-4 Year CESA
1.85%$2k-3 Year IRA
1.85%$2k-3 Year Roth IRA
1.85%$2k-3 Year CESA
1.50%$2k-2 Year IRA
1.50%$2k-2 Year Roth IRA
1.50%$2k-2 Year CESA
1.20%$2k-1 Year IRA
1.20%$2k-1 Year Roth IRA
1.20%$2k-1 Year CESA

Rates updated: 2/11/2012

Data for Q3 2011


Institution Statistics


LOMTO
NCUA #1532
BankRate ReportView
Year Established1936
Employees23
Primary Regulator

Assets and Liabilities

Assets$211.32 million
Loans$186.75 million
Deposits$175.43 million
Equity Capital$33.26 million
Loan Loss Allowance$2.96 million

Historic Data - September 2010

Assets$191.56 million
Equity Capital$30.88 million
Loan Loss Allowance$2.49 million
Unbacked Noncurrent Loans$268,000

Profit Margin - Quarterly

Net Interest Margin2.6%
Return on Assets1.15%
Return on Equity7.33%
Interest Income$7.75 million
Non-Interest Income$97,000

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio5
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2011 LOMTO Federal Credit Union had $0 in non-current loans and owned real-estate with $36.21 million in equity and loan loss allowances on hand to cover it. This gives LOMTO Federal Credit Union a Texas Ratio of 0.00% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Deposit Growth5
In the past year, LOMTO Federal Credit Union has increased its total deposits by $17.56 million, resulting in 11.12% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth LOMTO Federal Credit Union has shown is excellent.
Capitalization5
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. LOMTO Federal Credit Union has $211.32 million in assets with $36.21 million in equity, resulting in a capitalization level of 17.14%, which is excellent.
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To Get A Loan. Please Read These Before You Go There
1 stars - khan - Monday, December 12, 2011 - 4:28 PM

I went there to get some general informations about a loan . I have my medalian loan with them right now. Needed to borrow more money , thought start with them since I am already a member. I had To answer 10 questions with the front desk lady to proof that I have valid need to see a loan officer. Loan office( african American ) was very rude and unprofessional . Did not ask any open ended question to find out about my need . Did not not provide any solutions . She was acting like , she was doing me a favor because I wanted to give her more business . Credit union are nomally well known for their service , I guess except for this one . The 25 min I have waited to see her ,did not see one customer walk in . Specially based on their web site information( about 3100 members so far ) Providing this type of customer service , it will be so hard for them to get new customer and business .Not to mention went to wells Fargo bank after that and got the loan from them . I would not recommend any one to that credit union

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