You may have heard recently about a financial institution involved in fraudulent activity affecting millions of customers. This alarming news left many bank customers questioning the integrity of financial institutions and the safety of their accounts.
We want to offer our assurances that your Local Government Federal Credit Union operates within an environment of transparency. Every day, we strive to improve the lives of our members — a mission we take to heart. We’re committed to maintaining the membership trust we’ve built for more than 30 years. The following information provides details about how LGFCU’s structure and policies protect your accounts.
Structure of membership: LGFCU is a credit union, not a bank. That distinction means we answer to our membership — not to outside shareholders and investors.
Policies that protect: LGFCU participates in several annual audits with federal, independent, and internal examiners. This ensures our financial practices meet the stringent standards and guidelines imposed by the National Credit Union Administration (NCUA). The NCUA is the independent federal agency that oversees credit unions and insures the deposits of nearly 90 million credit union account holders.
Our profit is your profit: When LGFCU makes a profit, the entire profit is passed back to our members through lower loan rates, higher dividends and expanded financial products or services.
Who we are: LGFCU employees, board and committee members are dedicated to the financial success of our members. Our culture is one of cooperation, where we offer financial guidance and support to help members grow their money. Plus, working for our membership isn’t just a job. We’re in this together because we’re members, too.
We invite you to consider us as a trusted solution for all your financial needs. If you’re interested in learning how to move your accounts from other financial institutions, visit make the move.
As always, we thank you for being a member of LGFCU.