We're Building A Better Credit Union Experience
— Just For You
Working together to serve you better
LGFCU's commitment to serving local government is here to stay.
Now, together with Civic Federal Credit Union, we're building an even better credit union experience to meet the unique needs of people just like you — local government public servants, retirees, and their families. A credit union all your own.
This exceptional banking relationship will open a world of opportunities to you in digital banking — some you may not have even dreamed of having! And it will be backed by experts ready to provide in-person, individual attention when and where you need it. Delivered, of course, with the member service you've come to expect.
So, what does this mean for you?
The transition to this new credit union experience will happen in March of 2024. In the meantime, you don't need to do anything because nothing changes for you right now.
SECU will continue to provide LGFCU members with access to branches, ATMs and account management as we make this transition.
As we move forward together, you'll know what's happening every step of the way. And we'll have plenty of opportunities for you to provide input and ideas about what you want for your Credit Union.
We know you have questions
While we're excited about what's ahead for you and your credit union experience, we understand that you may have concerns. You'll find answers to frequently asked questions right here.
We want to minimize disruption to our members. We're working to make sure the same products members use now are the products that will be available after the transition.
While we don't plan to offer a traditional branch experience, we will have people ready to answer your questions by phone, by text or video chat, and by email. The same people who created LGFCU remain committed to meeting your financial needs. We're already in your community, at your events, and in your local government spaces. We have a dedicated team of people just for you. We will offer our members even more convenient banking options.
You will not have to open or transfer accounts to manage your money. Your accounts are already LGFCU accounts.
Yes. We will have digital notary service and a solution for cashier's checks.
Right now, we're identifying partners and channels for popular branch services, such as large cash withdrawals, deposits and check cashing. We will always update you as information becomes available for these and other services.
We're actively working on developing solutions for popular branch services such as safe deposit boxes. We will update members as plans are confirmed.
Yes, we will offer both international and domestic wire transfer services.
Absolutely, you can still write paper checks. And you can continue to use mobile check deposit using a mobile app too.
This is another popular branch service we're working on. We're considering options that can best serve members across the state.
Yes. We're creating a money manager that will initially have expense tracking, transaction categorization, and reporting available. We plan to add other features soon after launch.
As an independent Credit Union, we do not plan to offer the traditional branch experience.
Because we created Civic Federal Credit Union, we have updated our technology infrastructure, which allows us to process daily transactions. This means we can serve members on our own and provide the same level of service you are familiar with.
This also means that we won't have the overhead costs of supporting brick and mortar buildings. The savings will help LGFCU offer better rates for share accounts and loan products.
We're not currently planning to build branches, and plan to offer something different from the traditional branch experience. But this doesn't mean less access to services or interaction with real people.
Most branch transactions that you typically make can be done online, by app, managed virtually with an Experience Center employee, or through other innovative practices in development.
We are continuing to assess the many options available to support our members.
Yes. You will still have access to ATMs. Our plan is let you use any ATM that's convenient for you worldwide, then reimburse the fees to your account.
We understand that not everyone has consistent access to the internet in various parts of the state at this time. That is why we are working with North Carolina-based electric cooperatives to advocate for fiber or broadband access to areas not already connected.
We are identifying members who would be better served with broadband access. If you are impacted by internet concerns, please make sure we have your name, email address and zip code so we can engage you in the advocacy efforts and identify the regions we need to focus on most.
You are still a member of LGFCU.
LGFCU now has access to a banking system that will allow us to conduct and process daily transactions. This means we will serve members on our own. We will build the products and services our members have requested. And we'll provide direct member service with employees who have always worked on your behalf.
Your Credit Union membership with LGFCU does not make you eligible for membership with SECU. LGFCU and SECU have always operated under separate charters that legally define the specific fields of membership each can serve, and the eligibility requirements for joining each credit union.
- SECU serves state employees, teachers and their families.
- LGFCU serves North Carolina local government employees and volunteers and their families, among other groups.
You must meet the eligibility requirements to of SECU to join them.
- We know you! For almost 40 years, our staff have visited and supported your communities — the same communities where we also live — through scholarships, affordable loans and sponsorships.
- You'll enjoy some of the most competitive rates of any other financial institution, so you keep more money in your pocket.
- We'll have products, services and programs not offered at SECU.
- Lastly, and certainly not least, we believe the local government community is best served by its own Credit Union under its own power.
Separation means SECU will no longer have an agreement with LGFCU to service our members. It means we will provide our products and services ourselves, and directly manage engagement with our members.
Since 1983, we've had a contractual agreement with SECU to provide network services for LGFCU members, including account transactions and branch and ATM networks. We've also marketed certain SECU products to our LGFCU members.
We will remain the Credit Union dedicated to the local government community. Our independence means we can work with you directly.
Throughout our 39-year history, SECU and LGFCU staff met periodically to evaluate our partnership, to ensure the terms of our agreement were productive and beneficial for each credit union's membership. During recent meetings, both credit unions agreed to take a closer look at what a mutual separation could look like and how members might benefit.
A separation will allow us to "stretch our wings" when our members ask for different approaches or products. We'll have the ability to offer products and services that are specifically designed for, and requested by, LGFCU members. Now is the perfect time to create financial solutions that address the unique needs of our local government members.
No. When the LGFCU-SECU partnership agreement was signed in 1983, the intention was for both credit unions to work collaboratively to allow local government employees access to their credit union.
The agreement was never supposed to last a lifetime. This long-term credit union partnership is unprecedented in the industry and was created with a plan for eventual separation once LGFCU achieved certain growth goals. We have successfully exceeded these growth goals to become a $3.7 billion Credit Union with nearly 400,000 members. We believe now is the time for our independence.
The separation will enable both credit unions to focus on their respective memberships.
Most importantly, we want to ensure that the local government community continues to have its own Credit Union, one that is dedicated to meeting the unique needs of our public servants. We continue to be inspired by our local government members, and it truly is an honor for us to serve those who serve North Carolina so well.
While we welcome member feedback at firstname.lastname@example.org, no official member vote will be taken. The decision to separate from SECU was made by both the LGFCU and SECU Boards of Directors, with our respective members' best interests foremost in mind.
Our leadership team is working closely with our member advisory groups for input. We believe their feedback, coupled with feedback from our larger membership base, will uncover new and better ways to bring you financial solutions that align with your needs.
LGFCU is not going away. We will still be here to meet your financial needs, and will base products, services and rates on what best meets the needs of our members. We will remain the same great Credit Union that has served North Carolina since 1983.
LGFCU now has access to a banking system that will permit us to conduct and process daily transactions. These developments mean that we can serve members on our own. We will be able to build the very products and services our members have requested.
Our target date for separation is March 2024. There are many legal and regulatory requirements we must meet along the way to get there.
Still have questions?
Your feedback is important. If you don't see your question answered in the FAQ, ask us. And send us your ideas about any unique products, services or programs you would like to have beyond those we already offer.