Local Government Federal Credit Union earned back-to-back rankings as the No. 1 Credit Union in North Carolina, in Forbes magazine’s second annual listing of the Best-In-State Banks and Credit Unions.
Once again, LGFCU earned high marks in Forbes’ survey of more than 25,000 credit union members and bank customers across the U.S., who were asked to rank their current and former financial institutions on criteria including trust; terms and conditions; branch services; digital services; financial advice; and overall recommendations and satisfaction. Only 3% of financial institutions in the U.S. made this list.
“We are deeply honored not just to be featured on this list, but to be recognized as the number one credit union in North Carolina for two consecutive years,” said LGFCU President Mark Caverly.
“Delivering great service and value to our members is our goal every day. And to receive this member-driven recognition shows what our members know and want to share with others: That we’re a member-owned, nonprofit cooperative working hard to earn their trust and business.”
In 2018, when Forbes worked with an outside agency to identify the best credit unions in the nation, they interviewed the very people who are most impacted by credit unions — their members.
And in North Carolina, our members felt so strongly about LGFCU that they gave us very high marks. So high, in fact, that we earned the distinction of being the number one credit union in North Carolina, and the number three credit union in the nation.
That honor humbled us and reminded us all of the great responsibility we have to serve our members.
In 2019, history repeated itself when LGFCU was again ranked the state’s number one credit union.
For us, this accolade isn’t about bragging rights. Instead, the “Best Credit Union in State” recognition tells us that our members trust us, they appreciate the products and services we offer, and most importantly, they believe we have their best interests in mind.
Sure, we’re proud to be recognized by Forbes. But the biggest accolade of all is that our members know we’re serving them well. From all of us at LGFCU, thank you for the opportunity to serve you.
Factors most important to members
In conducting its Best-In-State Banks and Credit Unions survey, Forbes noted the importance of customer service, accessibility and financial advice in an industry that has seen massive changes since the mid-1980s, including significant growth in online services.
Overall, credit unions fared better than banks in the Forbes survey, since member-owned credit unions typically feature lower fees and lower rates than traditional banks. Plus, the nonprofit model and philosophy of “people helping people” puts the credit union member first, resulting in higher levels of satisfaction.