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The NCUA announced Monday it has liquidated another New York City-area credit union saddled by taxi medallion loans: LOMTO Federal Credit Union of Woodside.

Teachers Federal Credit Union on Long Island acquired members, deposits, about $5 million to $7 million in loans, and other assets from LOMTO ($156.2 million in assets, 2,283 members as of June 30). It acquired none of LOMTO’s commercial loans not backed by real estate, the NCUA classification that includes loans backed by taxi medallions, said Bill Corbett Jr., a publicist for Teachers FCU.

Jim DuPlessis

A journalist for decades.

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