Local Government Federal Credit Union (LGFCU) Fact Sheet

Founded in 1983, Local Government Federal Credit Union is a not-for-profit financial cooperative dedicated to the "people helping people" philosophy adopted by credit unions worldwide. Our mission statement, "To improve the lives of our members," strongly reflects the basis of conduct in all matters relating to the organization.

LGFCU's field of membership includes more than 186,000 local government employees, elected/appointed officials, volunteers and their families in North Carolina's 100 counties and 546 towns, cities and villages. Our assets currently exceed $1 billion.

LGFCU is member-owned and democratically controlled. This means each member has one vote, regardless of their personal investment in the Credit Union. A board of directors sets general policies and rules of operation for LGFCU. The board is elected from the membership at the annual meeting held each April in Raleigh, N.C. The board elects from its own members a chair, vice-chair, secretary and treasurer. The board also appoints the president, loan review committee, supervisory committee and regional advisory council members. All directors, committee members and council members volunteer their time and effort without compensation.

LGFCU has a contractual agreement with the State Employees' Credit Union (SECU) whereby LGFCU members are directly served through the SECU network of more than 225 branches and 1,060 ATMs. This is an efficient and convenient way to serve members through the nation's largest network of credit union branches and ATMs. Members also utilize online and mobile banking, a 24-Hour Voice Response Service and a Contact Center—servicing virtually all member needs. All deposit accounts at LGFCU, including individual retirement accounts (IRAs), are federally insured through the National Credit Union Association (NCUA) Share Insurance Fund up to $250,000.

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