Featured Savings Rates
Featured Accounts

LOMTO Federal Credit Union

Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
1.25%1-year CD1 Year CD
1.10%6-month CD6 Month CD
2.15%5-year CD5 Year CD

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



Health

Health ratings for LOMTO Federal Credit Union have been suspended due to the uncertainty around the large exposure it has to the New York taxi industry which is under pressure from app-based ridesharing services such as Uber.

Overall
NCUA #1532
Year Chartered1936
Employees25
Primary Regulator
Profit Margin
Return on Assets - YTD-4.64%
Return on Equity - YTD-33.43%
Annual Interest Income$2.5MM
Assets and Liabilities
AssetsQ1 2016vs Q1 2015$267.1MM$276.7MM
LoansQ1 2016vs Q1 2015$233.6MM$253.7MM
DepositsQ1 2016vs Q1 2015$218.8MM$227.7MM
Equity CapitalQ1 2016vs Q1 2015$37.5MM$45.4MM
Loan Loss AllowanceQ1 2016vs Q1 2015$12.2MM$4.7MM
Unbacked Noncurrent LoansQ1 2016vs Q1 2015$22.4MM$2.8MM
Real Estate OwnedQ1 2016vs Q1 2015$0$0
Rates
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* 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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%$500-IRA Shares
0.25%$500-Share Savings Account
0.25%$50-Holiday Club

LOMTO Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.25%*$10k*-Money Market Share
OTHER TIERS: 0.95% $500 - $10k

LOMTO Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$1k-Share Draft/Checking Account

LOMTO Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.15%$2k-5 Year CD
1.85%$2k-4 Year CD
1.65%$2k-3 Year CD
1.45%$2k-2 Year CD
1.25%$2k-1 Year CD
1.10%$2k-6 Month CD

LOMTO Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.15%$2k-5 Year IRA
1.85%$2k-4 Year IRA
1.65%$2k-3 Year IRA
1.45%$2k-2 Year IRA
1.25%$2k-1 Year IRA
Locations


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