For media inquiries or to schedule an interview with our leadership or other Credit Union spokesperson, please contact Donna Gonyeau, Public Relations Manager, at 800.344.4846. Our Public Relations Manager is available for media inquiries only. For all other inquiries please call 888.732.8562.
Meet the LGFCU Leadership Team
Executive Vice President
Chief Financial Officer
Chief Operating Officer
- Local Government Federal Credit Union (LGFCU) was founded in 1983.
- Our assets currently exceed $1.4 billion.
- More than 240,000 members are served by LGFCU, representing all of North Carolina's 100 counties and 540 towns, cities and villages.
- LGFCU is the fourth largest credit union in North Carolina.
- The LGFCU mission is "To improve the lives of our members."
- LGFCU is dedicated to providing services exclusively to local government employees, elected/appointed officials, volunteers and their families.
- We partner with State Employees' Credit Union (SECU) to serve our members through their branch and ATM network.
More about LGFCU
Founded in 1983, Local Government Federal Credit Union (LGFCU) is a not-for-profit, full service financial cooperative dedicated to the "people helping people" philosophy adopted by credit unions worldwide.
To be eligible for membership, an individual must be associated with either a local government or a current member of LGFCU. Local government units include towns, cities, counties and their associated departments (such as Fire, Law Enforcement, Planning, Finance, Recreation & Parks, etc.). They also include government-owned hospitals, libraries and authorities such as housing, airport and water/sewer.
LGFCU is member-owned and democratically controlled. This means that each member has one vote, regardless of his or her personal investment in the Credit Union.
A volunteer board of directors sets general policies and rules of operation for LGFCU. The board is elected from the membership at the annual meeting.
At a glance
How credit unions differ from banks
|Providing services to members||Purpose||Providing services to customers at a profit|
|Not-for-profit cooperatives owned and operated by members who own an equal share of the organization||Definition||Businesses owned by stockholders
with the intention of making money
from their investment
|Democratically structured. Each member has one vote, regardless of the level of personal investment||Structure||Depositors have no vote; only stockholders may vote on goals, functions and services|
|Directors are elected from among the membership and are unpaid volunteers||Directors||Directors are elected by stockholders
and paid for their time
|Earnings are returned to members in the form of dividends, higher savings rates, lower loan rates and improved services||Earnings||Earnings are returned to stockholders|
More than 6,956 credit unions in the United States, comprised of nearly 100 million members
Credit unions in the United States have approximately $1.03 trillion in combined assets
More than 6,931 banks and savings & loans in the United States with more than 270 million customers
Combined, banks and savings & loans have more than $14.23 trillion in assets