Safety

LGFCU is strongly committed to protecting our members' deposits. Each Credit Union employee with any access to account information is bonded for your protection. Property insurance is maintained to guard against losses by fire and theft.

As required by law, annual reserves are set aside for additional protection. LGFCU is subject to yearly audits from four sources:

• Internal Audit staff
  
• Supervisory Committee
  
• An outside CPA Auditing firm
  
• National Credit Union Administration (NCUA)

Every year NCUA, a federal regulatory agency, examines the Credit Union for safety and soundness. The NCUA Share Insurance Fund insures all types of deposit accounts up to $100,000 so you can have peace of mind knowing your deposits are safe.

Effective April 2006, the NCUA began insuring credit union retirement accounts up to $250,000. This insurance protection is separate from the $100,000 basic coverage on other credit union accounts.