Reviews (2)

Had A Wonderful Experience Today At The Manhattan (NYC) Branch Opening A Beneficiary IRA

Posted by: nycer | May 13, 2013

I went down to the Riverside Blvd/69th Street branch today and filled out forms to transfer a beneficiary IRA and open a CD. I was directed to the branch manager who was wonderfully attentive and helpful. Everyone I encountered in the small branch was similarly pleasant.

LOMTO has excellent rates toward the top of the IRA CD chart and I recommend them for those in the neighborhood looking to open IRA/CD accounts. (Montauk CU in midtown currently has even better IRA/CD rates but they cannot accommodate beneficiary IRAs.)

There is a map on LOMTO's website of their Upper West Side/Harlem coverage area to give you an idea if you qualify on a geographic basis for membership (those who live, work & worship in the area), which involves a $25 savings deposit and a $3 fee. You can phone them to confirm your eligibility.

For my particular situation, this was an excellent option, and I am pleased to say that I had a very positive experience.

To Get A Loan. Please Read These Before You Go There

Posted by: khan | Dec 12, 2011

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


LOMTO Federal Credit Union was placed into conservatorship on June 26, 2017 to "resolve issues affecting the institution’s safety and soundness while maintaining normal member services.” Member deposits remain federally insured by the National Credit Union Share Insurance Fund.

NCUA #1532
Year Chartered1936
Primary Regulator
Profit Margin
Return on Assets - YTD-20.21%
Return on Equity - YTD0%
Annual Interest Income$2.5MM
Assets and Liabilities
AssetsQ2 2018vs Q2 2017$156.2MM$218.9MM
LoansQ2 2018vs Q2 2017$127.7MM$187.2MM
DepositsQ2 2018vs Q2 2017$111.1MM$217.1MM
Equity CapitalQ2 2018vs Q2 2017($56,018,000)$621.00K
Loan Loss AllowanceQ2 2018vs Q2 2017$26.3MM$23.9MM
Unbacked Noncurrent LoansQ2 2018vs Q2 2017$13.3MM$38.4MM
Real Estate OwnedQ2 2018vs Q2 2017$0$0
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Always verify rates and promotions with the bank or credit union. We are not LOMTO Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

LOMTO Federal Credit Union Savings Account Rates

0.10%$500-Share 01
0.10%$50-Holiday Club
0.10%$50-IRA Shares
0.10%$50-Youth Shares
0.10%$50-Vacation Club

LOMTO Federal Credit Union Money Market Rates

1.70%*$500k*-Money Market Share
OTHER TIERS: 0.40% Up to $2.5k | 0.60% $25k - $50k | 1.00% $50k - $100k | 1.50% $100k - $250k | 1.60% $250k - $500k

LOMTO Federal Credit Union Checking Account Rates

0.05%$25k-Share Draft/Checking Account

LOMTO Federal Credit Union CD Rates

2.80%$1k-5 Year CD
2.70%$1k-4 Year CD
2.60%$1k-1 Year CD
2.60%$1k-3 Year CD
2.55%$1k-2 Year CD
2.55%$1k-30 Month CD
2.50%$1k-15 Month CD
2.50%$1k-18 Month CD
1.25%$1k-6 Month CD
0.40%$1k-3 Month CD

LOMTO Federal Credit Union IRA Rates

2.80%$1k-5 Year IRA
2.70%$1k-4 Year IRA
2.60%$1k-1 Year IRA
2.60%$1k-3 Year IRA
2.55%$1k-2 Year IRA
2.55%$1k-30 Month IRA
2.50%$1k-15 Month IRA
2.50%$1k-18 Month IRA

LOMTO Federal Credit Union Locations
Branch Office5024 Queens BlvdWoodside, NY 11377
Branch Office180 Riverside Blvdnew York, NY 10069

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