LOMTO
FEDERAL CREDIT UNION
W I N T E R
2 0 1 7
lomto
the
meter
A Newsletter For Members Of LOMTO Federal Credit Union
Happy 2017!
All of us at LOMTO FCU wish you a year filled with happy memories, sweet
surprises and financial well-being. We are here to serve our members and
to help finance all of your 2017 dreams! Please drop by for a one-on-one
conversation and let’s talk about how we can help you.
The Corner Office
A message from the CEO
The New Year brings many thoughts to
mind for all of us – a natural occurrence I
find refreshing. New start. New goals. New
dreams. New ways of doing things. As I
turn the calendar and step into January
2017, I’m excited to be leading LOMTO
FCU’s 81st year of serving its nearly 2,500
members. My top priority to you as part
owner of LOMTO is to work to make
things work – for each and every one of you.
Whatever your financial goals, we want to
be an integral part of making those goals
a reality.
Most of you are aware about the challenges
we face as a financial institution due to
LOMTO FCU’s expansive tax medallion
loan portfolio and the current burden on
traditional taxi services. All of us here,
including the Board of Directors, have
been working diligently to make changes
to our business model that will diversify
our products. To that end, we now offer
Signature Loans that will help take us to
the next level by boosting our growth and
ultimately yours.
Happy New Year!
Michael Cahalin, CEO
Drum roll please –
Introducing Our
Signature Loans!
LOMTO FCU is pleased to offer two new
loan products to help members finance their
dreams. Hoping to surprise someone with
a beach getaway this winter? Or maybe you
have kitchen renovations on your wish list.
Whatever your needs, borrow up to $25,000
unsecured for fun excursions, home renos,
medical expenses, education or even debt
consolidation. Our application process is
easy and quick – just stop by a branch or
call (212) 947-3380. Best yet, an online
application is coming soon – check
www.LOMTO.com for updates.
Signature Line Of Credit
Rates As Low As
9.75%
APR*
Up To $25,000
Signature Loan
Fixed Rates As Low As
9.25
APR*
Up To $25,000
*APR = Annual Percentage Rate. Rate based on creditworthiness, amount
financed and includes .25% discount for auto loan payment from LOMTO FCU
checking account. Rates subject to change without notice. Contact the Credit
Union office for details.
Maximize The Value Of Your LOMTO Membership!
You may have a Share Account with us, perhaps an IRA or debit card, but are you using all
the tools and services to truly maximize your LOMTO FCU experience?
If not, now is the perfect time to simplify your finances and take advantage of everything our
full service institution offers. We offer all the services of bigger banks and more, without the
hassle and high fees.
Enjoy The Value Of These Great Benefits
NO MINIMUM BALANCE
NO REQUIREMENTS
NO RESTRICTIONS
ALL
FREE!
■ Checking Account
No monthly service charge, no per check charges,
no minimum balance requirements – no hassle, period.
Plus, average daily balances over $1,000 earn dividends!
No Strings
Attached
First Box
Of Standard
Checks Is
FREE!
■ Online Banking and Online Bill Pay
It’s easy to get 24/7 access to accounts and move funds between
accounts, view account history, get eStatements and more.
LOMTO FCU Membership
Earn More – Save More –
DO MORE!
■ Direct Deposit and Payroll Deduction
■ eStatements
Handy access to monthly statements that you retrieve and store electronically
as needed – and you’ll help reduce NYC waste by eliminating paper copies.
■ VISA® Debit Card/ATM Card
Free access to use 33,000 network ATMs, 5,000 Shared branches and 2 NY locations
■ Higher dividends
■ Lower loan rates
■ Personalized service
■ Free products and services
You’re Connected To The CO-OP Network
People helping people – the true value of Credit Union membership
When you’re running
around town or visiting
friends across the country,
don’t worry about how
or where you will access
your money. LOMTO
FCU members are linked to the CO-OP
Shared Branch Network. That means you
have access to over 5,000 shared branches
and over 2,000 self-service locations in the
country!
You’ll have the convenience of Credit
Union services when and where you need it.
You can even make in-person transactions
just like you do at LOMTO. This shared
network also provides nearly 30,000
surcharge-free ATMs. Go to
www.LOMTO.com for the CO-OP
Shared Branch and ATM locator app.
And of course you can use LOMTO FCU’s
Mobile Money Online Banking
app whenever your heart desires.
Access over 5,000 branches, over 2,000 self-service sites and nearly
30,000 surcharge-free ATMs nationwide
There’s Still
Time To Make
2016 IRA
Contributions!
File For $0 With TurboTax®!
Membership has its privileges! And one of these privileges is LOMTO FCU’s partnership
with TurboTax.® If you do a simple tax return, it won’t cost you a penny! Other TurboTax
software is available at special discounts for LOMTO members. Below is a snapshot of these
great deals. For more details, go to www.LOMTO.com and log in to ONLINE BANKING
Virtual Branch and click on the TurboTax logo for lots of good stuff: getting started, security,
a demo, calculators and online enrollment. Need help? Ask Member Services!
TurboTax Features And Benefits
Federal Free Edition
Make Your TaxAdvantaged IRA
Contribution
Retirement savings are
important at any age
Each of LOMTO FCU’s IRA options help
you save for the future and supplement your
pension and/or Social Security benefits.
Check www.LOMTO.com for details on
your IRA options: Traditional IRA, Roth
IRA and Coverdell ESA. We would be
happy to discuss your ideal choices based on
your age and financial goals. And don’t forget
the tax advantages – contributions may be tax
deductible and will grow either tax-deferred
or tax-free. Your tax advisor can review your
unique situation.
Hurry, it’s not too late to make your IRA
contribution for 2016! The new year is a
great time to make your future even brighter
– open an IRA or contribute to yours today.
Deluxe
Premier
Self-Employed
Simple tax returns
(1040EZ/1040A)
Maximize tax deductions
and credits
Investments and
rental property
Personal and business
income and expenses
Start for Free
Start for Free
Start for Free
Start for Free
$0 Federal
$0 State
$54.99 $34.99*
State additional
$79.99 $54.99*
State additional
$114.99 $89.99*
State additional
MOST POPULAR
*TURBOTAX ONLINE/MOBILE - Try for Free/Pay When You File: TurboTax online and mobile pricing is based on your tax situation and varies by product. Free
1040EZ/1040A + Free State offer only available with TurboTax Federal Free Edition; Offer may change or end at any time without notice. Actual prices are determined
at the time of print or e-file and are subject to change without notice. Savings and price comparisons based on anticipated price increase expected in March. Special
discount offers may not be valid for mobile in-app purchases.
Say Hello To Our Riverside Team
Our Manhattan branch is located on the
Upper West Side at 180 Riverside Boulevard
on 69th Street. The hours of operation are
Monday through Thursday 9:30 a.m. –
4:30 p.m., Friday 9:30 a.m. – 4:00 p.m.,
plus our 24-hour ATM onsite. Branch
Manager, Geeta Singh-Moses, and Member
Service Representatives, Tracey Crandon
and Erin Spence, will be happy to help you
with your everyday
transactions, open
a Share Certificate,
IRA or other account,
and can answer any
questions you may
have. Stop in and
say hello.
PRSRT STD
U.S. Postage
PAID
Lehigh Valley, PA
Permit #550
LOMTO
FEDERAL CREDIT UNION
Your financial destination.
50-24 Queens Boulevard
Woodside, New York 11377
www.LOMTO.com
Phone: (212) 947-3380 Fax: (212) 967-2314
Audio Response: (877) 216-0347
Office Hours:
Monday – Thursday: 8:30 a.m. - 4:00 p.m.
Friday: 8:30 a.m. - 3:30 p.m.
Teller Window: Monday – Thursday: 8:30 a.m. - 3:30 p.m.
Friday: 8:30 a.m. - 3:00 p.m.
180 Riverside Boulevard
New York, NY 10069
Office Hours:
Monday – Thursday: 9:30 a.m. - 4:30 p.m.
Friday: 9:30 a.m. - 4:00 p.m.
24-Hour ATM Onsite
In This Issue
■ Introducing Our Signature Loans..............................................Page 1
■ Maximize Your LOMTO Membership......................................Page 2
■ Make Your Tax-Advantaged IRA Contribution.........................Page 3
■ Say Hello To Our Riverside Team.............................................Page 3
16-00678 1/17 Marketing Partners (888) 641-1215
Bulletin Board
Check here for important news and notes
New Signature Loans Can Finance Your Dreams
Choose from a line of credit or a fixed loan, whichever suits your lifestyle. See the
front page for more details. Apply at a branch or by phone – and very soon by Online
application! Check www.LOMTO.com for updates.
More Frequent Dividend Payments
Effective March 31, 2017, your dividends on Share Certificates, IRA Share Certificates
and Checking Accounts will be calculated at the end of each calendar quarter. Further,
dividends will be posted and paid on that month’s statement. More compounding means
more earnings!
FOR SALE: NYC Medallions And Radios
Contact our Collections Department at (212) 947-3380 for details.
Upcoming Holiday Closings
Martin Luther King, Jr. Day | Monday, January 16
Presidents’ Day | Monday, February 20