Competitive CD Rates in New York City at LOMTO Federal Credit Union

CD and IRA CD rates have recently fallen at LOMTO Federal Credit Union, but they continue to be very competitive for all terms. The following rates are listed in the credit union's member share certificates page as of 9/26/2012:

• 1.00% APY 6 months
• 1.20% APY 1 year
• 1.40% APY 2 years
• 1.75% APY 3 years
• 2.00% APY 4 years
• 2.20% APY 5 years

Minimum deposit is $2,000. Terms from 1 to 5 years are also available in IRA certificates. When I last contacted this credit union, I was told that the early withdrawal penalty for the longer term CDs is 6 months of interest (earned or unearned).

Membership

LOMTO FCU membership is open to anyone who lives, works, worships, attends school in parts of the west side of Manhattan. Please refer to 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. You can also be eligible for membership via family and via membership in LOMTO Inc. which according to one reader is not worth joining unless you're a cab driver. Please refer to the LOMTO Inc. membership page for more details.

Credit Union Overview

LOMTO FCU branches are located in the New York City boroughs of Manhattan and Queens.

The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 0% (excellent) based on March 2012 data. Please refer to our financial overview of LOMTO Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 1532).

Searching for the Best CD and IRA CD Rates

To search for the best nationwide rates and the best rates in your state, please refer to the following tables at DepositAccounts.com:

• Best CD rates
• Best IRA CD rates