Transitions and New Beginnings

Transitions and New Beginnings

Transitions and New Beginnings

Latest News

Please Welcome Our New CEO

We are pleased to introduce Michael Cahalin as the new CEO here at LOMTO Federal Credit Union. With over 15 years at LOMTO FCU and over 30 years in the financial industry, Michael brings a tremendous amount of skill and knowledge to his new role and has made a seamless transition from his former position as our Chief Operating Officer. Mr. Cahalin has been appointed as the new treasurer to our board of directors, filling the position made available by Vincent Sapone’s retirement.

Recent Retirements & Board Appointments

Our former CEO, Richard Kay retired on July 31, 2016, ending a 27-year career where he fostered and led the credit union’s growth from $7m to $255m in assets during his 20 years as CEO. Mr. Kay will continue to support LOMTO FCU as president on our board of directors, where he was former the treasurer.

Vincent Sapone has also come to retirement this year and has stepped down from his role as president of our board of directors and his many years as the Managing Director of our sponsor organization, LOMTO Inc.


We thank each of these gentlemen for their service to LOMTO Federal Credit Union and their respective impacts on both the industry and our growth.

14 Oct, 16