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Who Can Join

Field of Membership

As a Federal Credit Union, LOMTO FCU is not open to the general public. Family members of existing LOMTO FCU members, as well as members of LOMTO Inc., are eligible to be members of our Credit Union. You can become a member of LOMTO Inc. for a $25.00 fee. In addition, certain areas of the West side of Manhattan are included in our field of membership. People who live, work, worship, attend school, businesses and other legal entities in this area are eligible for membership – see map below. Please call our office to find out if you qualify for membership so that you can take advantage of the many low-cost and free services that we offer.

 

Membership

To join the Credit Union you must maintain a $25.00 balance in your share savings account.  Due to the federal law known as the “Patriot Act,” we must verify your identity, even for existing members. To do so we must obtain acceptable proof of name such as a driver’s license, birth certificate, United States passport or resident alien card. Additionally, we require proof of residency and tax identification number.

 

Family Membership

You and the members of your family may enjoy all the benefits of LOMTO FCU membership for life. When you open your account is the ideal time to open accounts for your eligible family members. Your eligible family members (natural, adopted, foster, or step) are shown in the following diagram.

Membership and Joint Ownership – The Difference

Once your family members have joined, their family members also become eligible. Family members are entitled to full membership privileges and retain their LOMTO FCU membership even in the event your account is closed.

You can designate anyone as joint owner of your account. Joint ownership, however, is not the same as LOMTO FCU membership. The joint owner(s) can make deposits to, or withdrawals from, the joint account. Your joint owner(s) is not automatically a member of LOMTO FCU.

If a joint owner is within the field of membership, he or she can become a member. Only members are entitled to borrow from LOMTO FCU and purchase Loan Protection Insurance.

 

Field of Membership

The field of membership includes the following:

1. Employees and members of the League of Mutual Taxi Owners, Inc., in New York, NY

2. Employees of the American Transit Insurance Company who work in New York, NY

3. Members of the Jewish Center of Williamsburg in Bronx, NY

4. Tenants and employees of tenants who work at 577-79 Ninth Ave., New York, NY

5. Persons who live, work, worship or attend school in, and other businesses and other legal entities located in the portion of the City of New York that encompasses:

            Beginning at the intersection of 12th Avenue and West 125th St., proceeding east on West 125th St. to Amsterdam Avenue, proceeding north on Amsterdam Ave. to West 126th St., proceeding east on West 126th St. to 5th Ave., proceeding south on 5th Ave. to West 124th St., proceeding west on West 124th St. to Mount Morris Park West, proceeding south on Mount Morris Park West to 120th St., proceeding east on 120th St. to 5th Ave., proceeding south on 5th Ave. to West 119th St., proceeding east on West 119th St. to Park Ave., proceeding south on Park Ave. to East 110th St., proceeding west on East 110th St. to Central Park West, proceeding south on Central Park West to West 100th St., proceeding west on West 100th St. to Amsterdam Ave., proceeding north on Amsterdam Ave. to West 114th St., proceeding west on West 114th St. to Riverside Drive, proceeding south on Riverside Drive to West 74th St., proceeding east on West 74th St. to Amsterdam Ave., proceeding south on Amsterdam Ave. to West 42nd St., proceeding east on West 42nd St. to 8th Ave., proceeding north on 8th Ave. to West 46th St., proceeding east on West 46th St. to Avenue of the Americas, proceeding south on Avenue of the Americas to West 35th St., proceeding east on West 35th St. to 5th Ave., proceeding south on 5th Ave. to West 28th St., proceeding west on West 28th St. to Avenue of the Americas, proceeding south on Avenue of the Americas to West 26th St., proceeding west on West 26th St. to 8th Ave., proceeding north on 8th Ave. to West 34th St., proceeding west on West 34th St. to 10th Ave., proceeding north on 10th Ave. to West 38th St., proceeding west on West 38th St. to 11th Ave., proceeding north on 11th Ave. to West 39th St., proceeding west on West 39th St. to the West Side Highway, proceeding north on the West Side Highway to West 59th St., proceeding geographically west on West 59th St. to the Hudson River, proceeding geographically north along the Hudson River until reaching the intersection of 12th Ave. and West 125th St.; a community which meets the underserved area definition of 109©(2) of the Federal Credit Union Act. See the map for more details.

6. Spouses of persons who died while within the field of membership of this Credit Union, employees of this Credit Union, persons retired as pensioners or annuitants from the above employment, members of their immediate families, and organizations of such persons.