LOMTO Federal Credit Union has several competitive certificate rates listed in its rate table. These include a 4.02% APY 6-month CD, a 4.33% APY 12-month CD, a 4.60% APY 24-month CD and a 5.22% APY 60-month CD. The minimum deposit is $2,000. Terms from 1 to 5 years are also available in IRA certificates. The early withdrawal penalty for the longer term CDs is 6 months of interest (earned or unearned).
Membership is open to anyone who lives, works, worships, attends school in parts of the west side of Manhattan. Please see the credit union's membership page for more details. Credit union membership requires a $3 fee and a minimum deposit of $25 in your share savings account. A reader in a previous LOMTO FCU post mentioned a fee of $75 and first year dues of $96. However, according to the CSR, that would be if you wanted to qualify for membership by joining LOMTO Inc. Please refer to the LOMTO Inc. membership page for more details.
The credit union's office is located on 577 9th Avenue, New York, NY. The credit union is federally insured by the NCUA (Charter # 1532).