LGFCU 2020 Annual Report

2020 was the year that taught us how much we need each other
LGFCU wingbox icon

As a pandemic challenged our world,

the leadership team at LGFCU focused on finding financial solutions to support members in crisis. Credit Union programs that helped extend payment plans or refinance existing debt were activated for members impacted by COVID-19.

LGFCU also rallied behind communities, giving more than $100,000 to the Carolinas Credit Union Foundation, which allocated funds for a COVID-19 relief fund. Our Membership Development teams donated meals and supplies to staff at local business units and more.

As the public health crisis wore on, we remained grateful to essential workers and first responders, critical personnel in the fight against COVID-19. Their commitment to neighbors kept North Carolinians safe or helped them get the care they needed.

What has become evident over the past year is that we are one Credit Union family, members who share a common bond. Despite the challenges we’ve faced, we are stronger together, even when we’re apart.

Lin Jones, Chairman

Chairman’s letter

Lin Jones

Chairman, Board of Directors

Dear fellow members:

This is not a conventional Chairman’s letter. These are not ordinary times. Our state and local communities have undergone changes in the way we do business, educate our children and move about. The year 2020 is in the record books for what happened and what did not occur. This Chairman’s letter is our opportunity to take stock of how your Credit Union fared. More importantly, we want to assure you of our aim to help you move forward.

I chose to address last year from more than just the perspective of how COVID-19 has affected your Credit Union. In summary, our financial performance was very good. But as a cooperative, we are more than the sum of our parts. The Credit Union is a family of members. Membership means more than just accounts and products.

Last year, we were reminded of a thing or two about ourselves. The simple act of giving one another a hug or a handshake are gestures we took for granted. The communal privilege of assembly took on new meanings. Gathering to worship, be entertained, socialize and cheer were paused. It seems so long ago our livelihood was ordinary.

There are a few other reminders we were forced to face. Some consumers live with financial fragility every day. A disruption in widespread employment wreaks havoc in industries on which some local governments depend. Consumer confidence, a sense of security and social welfare are intertwined.

The ramifications of a pandemic-driven recession are complex. It seems we all are affected by the disruptions in our public patterns, family involvements and occupations. If this was happening in one industry, region or area, we might have a better opportunity to process the effects. But this has confronted all of us at one time.

It would be understandable to look upon the new year with some skepticism. After all, we are still dealing with a pervasive coronavirus contagion. But there is a good news story here. The good news comes in the sense that we are resilient and determined to recover.

Our optimism is grounded in the realization that we have been through this before. Well, perhaps not a pandemic of this magnitude in our lifetimes. But we have seen challenging times before.

We are in a recession. But we’ve made it through recessions before. We have high unemployment. We have returned to full employment after previous downturns. Our business sectors are strained. Businesses have shown they can rebound and grow commerce. We have seen tough times before.

The ingenuity, determination and spirit we showed in the past gives me absolute confidence that we shall rebound again. There is one ingredient that helped us in the past: the spirit of working together. This is one of the underlying principles of a cooperative like LGFCU. We are stronger together.

I can’t think of a better example of being stronger together than to honor the essential public servants in local government. You are the first responders, elected officials, administrative employees, volunteers and public service workers who glue our communities together. Some of you have visible roles. We see you every day. Most of you work behind the scenes serving our citizens in crucial ways.

Just as you do your parts, your Credit Union is determined in its unwavering commitment to serve you. Our services are delivered one conversation at a time. We hear you when you ask for help financing a dream. We are focused on your requests for assistance when misfortune arises. There is no substitute for a welcoming voice.

We look toward the future with high hopes and confidence. We draw a line in the sand when it comes to the welfare of our members. Nothing short of your success will satisfy your Credit Union. We will rise together.

On behalf of the Board of Directors for Local Government Federal Credit Union, we are so very honored to represent you. You make us proud with your contributions to the community in whatever capacity you serve. We are resilient and strong because of you.

Best regards,

Lin Jones, CPA
Chairman, Board of Directors
Local Government Federal Credit Union

LGFCU and you

Together we are strong

2020 was a year like no other in the history of LGFCU and the lives of its many members. But we stuck together, and we kept moving.

As 2020 threatened the dreams of so many people, Anthony James remembered the times his own dreams seemed out of reach. He now shares his bounty with others.

And for Ellen Walston, who witnessed firsthand the impact of 2020 on her patients, the year meant digging even deeper to find new ways to offer hope to her community.

We’re proud to introduce you to these LGFCU members. They’re determined and resilient people. And together with their Credit Union they keep moving forward, with the confidence to face any challenge.

Anthony James

Anthony James | Charlotte

Anthony James


Anthony James’ Credit Union membership is as close to his heart as is his organic garden. After being denied for a home loan by several commercial banks in years past, he turned to LGFCU for help. It took months of work before Anthony’s finances improved. He then qualified for a mortgage to buy his first and forever home with enough land to grow food he shares with his community.

"My membership with LGFCU makes me stronger because it has given me opportunities I didn't have before. I feel like I gained a partner … someone who believes in me."

Watch the video to hear more of how Anthony and LGFCU are stronger together.

Ellen Walston

Ellen Walston | Winterville

Ellen Walston


Ellen Walston believes in hope, and she’s working hard to provide it to her community.

In her practice as a licensed clinical social worker at CareNet Counseling in Greenville, Ellen specializes in helping people cope with grief, manage stress, parent effectively and more. And though she’s counseled patients for years, no year has been quite like this past one.

"I’m so thankful for the opportunity to walk alongside people, and do life together," Ellen says.

We’re with you

There are many ways to describe the year that 2020 was — confusing, difficult, sad. At LGFCU, our hearts ached with our members, and as individuals, we too feared the unknown of the unprecedented times that we were in. When reflecting on 2020 and the tough memory that it now is in our collective histories, we felt there were three different words that better described the year we had as a cooperative — purposeful, impactful and hopeful.

As a member-owned, not-for-profit cooperative, we support each other in our lows and celebrate each other in our highs. As a provider of financial services, we anticipate members’ needs and strive to provide the resources necessary to fulfill them.

If looking back at the Credit Union’s impact on members in 2020 taught us anything, it’s that together, we can weather any storm.

Member savings = saving members

Bar chart showing 32% savings

Over the course of 2020, members paid

32% less in interest expenses

by financing through LGFCU instead of other financial institutions.

How much is that, you ask?

$11 million.*

Creating this significant amount of member savings is what we love to do. Saving members with affordable loans and financial assistance, though, is why we love what we do.

LGFCU began offering COVID-19-specific loan extensions which, at their peak, held nearly $149 million from 8,209 loans in deferment up to six months.

That meant
8,057 members

didn’t have to weigh the options of buying groceries or making their loan payments.

Balance scale

* Based on external benchmarking, interest rates were computed for LGFCU members who opened a loan in 2020. The total interest they would have paid with another financial institution was compared to the interest they paid with LGFCU (as of December 31, 2020). The total estimated savings was about $11 million.

† Numbers provided as of December 31, 2020.

Coming together

While the COVID-19 pandemic seemed to steal the spotlight in 2020, LGFCU couldn’t be deterred from enhancing communities across the state. We’re proud of the contributions made — including awarding scholarships, creating positive economic impact, giving support to local governments — as well as, and above all, the members at the center of it all.

In the community

Promoting LGFCU and the benefits of membership remained a high priority. Our staff quickly adjusted to new ways of "doing business" in 2020 and successfully performed nearly 8,000 unit visits with contacts across the state. Through emails, virtual meetings, phone calls and safely performed in-person visits, our team shared the LGFCU message by:

  • Representing LGFCU at 55 conferences, benefit fairs, community events and related meetings

  • Attending 73 separate orientations

  • Sponsoring 9 secure Shred Events for community members


In support of our members' own professional development, $125,000 in scholarships was awarded to 100 members in 57 North Carolina counties.

Among members preparing for college or trade school, $120,000 in scholarships was awarded to 120 members attending schools in 49 North Carolina counties and 5 out-of-state schools.

Economic development

LGFCU supports the Development Finance Initiative (DFI) at the UNC School of Government, a program that partners with communities across the state to perform revitalization, redevelopments and other planned development projects. In 2020 alone, the DFI performed 18 revitalization projects, including nine within severely distressed communities. These projects are part of 163 overall projects the DFI economic development program has performed since its start in 2011, with $1 million in seed money coming from LGFCU.

LGFCU Fellows

LGFCU Fellows are a select group of local government leaders dedicated to public service in their communities. Each year, 15 cohorts participate in the UNC School of Government's Leading for Results program, and graduate with a deeper understanding of their individual leadership strengths, skills for improving their organizations and a renewed passion for public service. Since the program’s inception, 381 alumni across 77 counties have earned the distinction of "LGFCU Fellow."


Member volunteers from across the state play a crucial role in the success of LGFCU. Volunteers serve on our Board of Directors and on committees, including the Supervisory and Loan Review Committees, as well as on the Advisory Council. LGFCU relies on volunteers to be the liaisons between existing and potential Credit Union members and LGFCU management, and to perform various audit and decision-making functions.

Our volunteers demonstrate leadership by example, and exemplify the cooperative foundation on which credit unions are based.

Board of Directors

To lead is to honor the trust bestowed upon us by our fellow members.

Lin Jones

Lin Jones

Chair | Durham

Ken Noland

Ken Noland

Vice Chair | Wilkesboro

Jeanne Erwin

Jeanne Erwin

Treasurer | Cary

Ruth Barnes

Ruth Barnes

Secretary | Atlantic Beach

David Dear

David Dear


Paul Miller

Paul Miller

Snow Hill

Aaron Noble

Dr. Aaron P. Noble Jr.


Director Emeritus

  • Al Richardson
    Black Mountain

Supervisory Committee

  • Amy Bason
  • Ryan Draughn
  • Emily Lucas
    Wake Forest
  • Michelle Price
  • Lee Smiley

Loan Review Committee

  • Jim Baker – Retired
    Chapel Hill
  • Nancy Held – Retired
  • Pam Hurdle
    Town of Hertford
  • Dale Johnson – Retired
  • Tony King
    Town of Louisburg
  • Caroline Lee – Retired
  • Wilbert McAdoo – Retired
  • Nancy Medlin
    Town of Clayton
  • Charles Murray – Retired
  • Cheryl Perry
    Town of Cary
  • Jean Stowers
    Johnston Community College
  • Sam Tingler
    Town of Cary
  • Charles Weber – Retired
    Olympia, WA
  • Mark Williams – Retired
    Wake Forest

Advisory Council

The Advisory Council members serve as advocates in their communities and regions, acting as ambassadors to potential members and a source of information to existing members. As of December 31, 2020, there were 594 members.

Albemarle Sound

  • Brenda Algood
  • James Avens Jr.
  • Eddie Buffaloe
  • Darlene Carter
  • Monica Cole
  • Anthony Dickinson
  • Philip Donahue
  • Katherine Felton
  • Jay Fortenbery
  • Jackie Frierson
  • Mary Hunnicutt
  • Pam Hurdle
  • Stephanie Jackson
  • Chuck Jones Jr.
  • Clarann Mansfield
  • Montique McClary
  • Barry Overman
  • Amy Powers
  • Debbie Reed
  • Fred Spruill Sr.
  • Keith Throckmorton
  • Tammy Woodley


  • Danna Ball
  • Dan Barron
  • Chris Beddingfield
  • Bob Boyette
  • Kathy Coco
  • Theresa Coletta
  • Jonathan Feldman
  • David Foster
  • Brian Franklin
  • Tonia Hampton
  • Scottie Harris
  • Josh Harrold
  • Rickey Hensley
  • Brad Holmes
  • Kimberly Hunter
  • Steve Jones
  • Jake Klodt
  • Dean Luebbe
  • Joe McKinney
  • Cheryl Mitchell
  • Angie Murphy
  • Kate O'Hara
  • Kevin Owenby
  • Anthony Penland
  • Avril Pinder
  • Stefan Stackhouse
  • Joey Webb
  • John Wilson
  • Danielle Wittekind

Cape Fear

  • Sylvia Armstrong
  • Michelle Babson
  • Tommy Batson
  • Ken Bogan
  • Warren Lee
  • Wes Macleod
  • Travis Mitchell
  • Chris Nelson
  • Shannon Slocum
  • Kim Ward

Central Coast

  • Ellie Avery
  • Michael Avery
  • Grace Barbour
  • Rosie Brinson
  • Amy Burdulis
  • Leigh Ann Cook
  • David Cox
  • Megan Daub
  • Teresa Fulk
  • Shirley Gabbert
  • Natalie Gibble
  • Thurman Hardison
  • Karla Johnson
  • Valeria Johnson
  • Tharesa Lee
  • Lynn Lewis
  • Jaime Long
  • Chad Mann
  • Susan Nixon
  • Kirk Peterson
  • Timothy Pike
  • Denise Powell
  • Sherry Riggs
  • Chad Smith
  • Garland Terry
  • Lee Tillman
  • Harvey Walker
  • Ed Weigl
  • Mary Weigl

Central Mountain

  • Sheila Blalock
  • Shelley Buchanan
  • Tommy Burleson
  • Darlene Butler
  • Richard Canipe
  • Jackie Cornette
  • Amy Davis
  • Angie Eggers
  • Chris Grace
  • Scott Hurley
  • Bobby Powell
  • Dale Presnell
  • Amy Shook
  • Cindy Turbyfill
  • Blake Vance

Central Piedmont

  • Gerald Anderson
  • Nancy Boyden
  • Nikki Carswell
  • Richard Cooke
  • Ken Deal
  • Ti Farmer
  • Carol File
  • John Gallimore
  • Franklin Gover
  • Grayson Gusa
  • Michelle Hepler
  • Robin Howard
  • Hilda Keeney
  • David Ketner
  • Wayne Krimminger Jr.
  • Jay Lowe
  • Melody Moxley
  • Patti Price
  • Jessica Reid
  • Chad Ritchie
  • Loran Schulte
  • Charles Seaford
  • Josh Smith
  • Kim Stine
  • Londa Strong
  • David Taylor
  • Nick Turner
  • Sylvia Turnmire
  • Josh Watkins
  • Mark Wilkinson
  • Sarah Wilkinson

Chowan River

  • Carolyn Brown
  • Joleatha Chestnutt
  • David Clary
  • Ricky Credle
  • Dennie Dale
  • Bill Early
  • Bobby Eure
  • Troy Fitzhugh Sr.
  • Earnest Howard
  • Evelyn Howard
  • Alvin Lewis
  • James Peele
  • Scott Sauer
  • Stephanie Simpson
  • Belinda Smith
  • Mike Stalls
  • Marion Thompson
  • Dominique Walker
  • Stephen White
  • Kathleen Wright
  • Donna Zube

Coastal Plain

  • Jonathan Allen
  • Shelvia Ashford
  • Susan Baptist
  • Pamela Brame
  • Ashley Brown
  • Regina Bryan
  • Audrey Bryant
  • Amy Davis
  • Sandra Janssen
  • Hans Kalwitz
  • Brian Kelly
  • Jackie Nicholson
  • Brenda Reece
  • Chris Roberson
  • Kathy Wallace
  • Anna West
  • Marina Williams

Deep River

  • Kathy Bond
  • Justine Buxton
  • Stacy Griffin
  • Alice Lloyd
  • Krista Lowe
  • Gary McGee
  • Greg Patton
  • Mike Roberson
  • Kristen Terry
  • Amelia Varner
  • Thomas Wassack
  • Jill Williams

Eastern Carolina

  • Dorothy Brown
  • Delbert Bryant
  • Theresa Cieslinski
  • Kiplan Clemmons
  • Vivian Davis
  • Wanda Dixon
  • Debra Dunn
  • Scott Godefroy
  • Rosalie Grimes
  • Don Hardy
  • Doris Hill
  • Scotty Hill
  • Sherry Howell
  • Angie Leggett
  • Barbara Lipscomb
  • Alice Manuel
  • Lea Mills
  • Shelton Nelson
  • Glen Newman
  • Vickie Phillips
  • Tony Sears
  • Jasman Smith
  • Ellen Walston

Eastern Sandhills

  • Laticia Black
  • Annette Bryant
  • Cathy Buie
  • Chad Deese
  • Debbie Disbrow
  • Judy Freeman
  • Lemark Harris
  • Debra Holcomb
  • Kimberly Honeycutt
  • Justin Hunt
  • Patricia M. Jenkins
  • Jody Jernigan
  • Angela Jones
  • George Lanier
  • Kayla Lee
  • O'Ryan Lowry
  • Michael McNeill
  • Ti Morrill
  • Marion Morrisey
  • Katrina Tatum
  • Annie Williams
  • Larry Williams
  • Angel Wright-Lanier

Eastern Triangle

  • Veloris Allen
  • Felicia Brown
  • Jeremey Daughtry
  • Gordon Joyner
  • Tim Kerigan
  • Billy Langston
  • Valerie McLamb
  • Shelia Morton
  • LaWanda Neal
  • Jordan Piper
  • Melanie Proctor
  • Amy Shearin
  • Connie Sorrell
  • Matt Sutphin
  • Jennifer Turner
  • Daniel Wilson


  • Heather Black
  • Erica Bobo
  • Debra Brown
  • Rich Chuvala
  • Jeff Clevenger
  • Vontella Dabbs
  • Gary Foster
  • Adrienne Hall
  • Laura Hamilton
  • Dustin Haney
  • Betsy Harnage
  • Amy Heavner
  • Justin Merritt
  • Chuck Moore
  • Bryant Morehead
  • Zach Ollis
  • Judy Smith
  • Judy Toney
  • Lisa Wassen
  • Phil Welch
  • Rachel Whitaker
  • Earl Withers III


  • Charlene Allen
  • Ellen Bell
  • Tammy Blake
  • Becky Breiholz
  • Gary Britt
  • Melody Clopton
  • Melissa Dickerson
  • Mike Eubank
  • Fred Featherstone
  • Bonita Hurdle
  • Lynn Morris
  • Elizabeth Reilly
  • Karen Sawin
  • Kermit Skinner
  • Kevin Zorc

Lake Hickory

  • Winfield Abee
  • Sherri Bradshaw
  • Jeff Brittain
  • Kimberly Campbell
  • Seth Eckard
  • Brandon Elrod
  • Tamara Faulkner
  • Patricia Gabriel
  • Paul Hedrick
  • Wendy Helms
  • Carson Hendrix
  • Danny Hester
  • Darlene Huffman
  • David Huffman
  • Louise Humphrey
  • Charles Ingold
  • Debbie Jones
  • Teresa Laffon
  • Claudia Main
  • Todd Money
  • Johnny Overby
  • Stephanie Pannell
  • TJ Patton
  • Molly Phipps
  • Wayne Rash
  • April Reese
  • Donald Robinson
  • Crystal Smith
  • Betty Jean Stinson
  • Addie Williams
  • Michael Willis


  • Bill Blackwelder Jr.
  • Aaliyah Cupil
  • Chanyne Cupil
  • Craig Cupil
  • Anna Ellis
  • Christina Fath
  • Charvetta Ford
  • Brian Gott
  • Heather James
  • Barbara Lansche
  • Tony Long
  • Roger McCoy
  • Mike McLaurin
  • Steve Roberson
  • Jordan Steady
  • Laura Wasson
  • Barry Webb

Nantahala Forest

  • David Adams
  • Terry Ashe
  • Elise Bryson
  • Kyra Doster
  • Tina Galloway
  • Sheila Jenkins
  • Pam Ledford
  • Chuck Norris
  • Dustin Pendergrass
  • Ruth Sitton
  • Chuck Young

Northern Mountain

  • Connie Bauguess
  • Gary Bell
  • Breanna Creed
  • Bill Hancock
  • Carol Hermann
  • Steve Hutchens
  • Stephen Mahaffey
  • Denise Monahan
  • Michael Pardue
  • Larry Phillips
  • Lizabeth Roupe
  • Miranda Roupe
  • Sandra Snow
  • Vic Spencer
  • Monroe Wagoner
  • Susan White

Northern Piedmont

  • Jackie Astrop
  • Carla Banks
  • Joseph Brady
  • Debra Bronson
  • John Capes
  • Chamreece Diggs
  • Stacy Farlow
  • Valarie Halvorsen
  • Antuan Hawkins
  • Kristen Herndon
  • Matthew Johnson
  • Brenda Jones Fox
  • Melissa Joyce
  • Jimmy Marley
  • Kendrick Mayes
  • Tim McKinney
  • Carolyn Nimmons
  • Eric Olmedo
  • David Parrish
  • Chris Phillips
  • Teri Sentiff
  • Keith Volz
  • Jason Wood
  • Janice Wyrick

Northern Triangle

  • Angelia Alston
  • Joyce Dickerson
  • Kelly Faulkner
  • Coy Floyd
  • Jon Franklin
  • Oliver Greene
  • Joyce Howard-Fritz
  • Argretta Johen
  • Holt Kornegay
  • Elgin Lane
  • Donna Lee
  • Jordan McMillen
  • Lauren Newlin
  • Javier Plummer
  • Donna Stearns
  • Curtis Tyndall
  • Dianne White

Research Triangle

  • Brian Andrews
  • Kendra Beard
  • Starlin Beatty
  • Randy Beeman
  • Germaine Brewington
  • Deborah Craig-Ray
  • Tara Fikes
  • Cheryl Hart
  • Andrew Holland
  • Darlene Jacobs
  • Reginald Johnson
  • Kevin Locklear
  • Lenora Minion
  • Craig Page
  • Alice Sharpe
  • Diane Shepherd
  • Stevon Strudwick
  • Deborah Taylor
  • Bert White
  • Lee Worsley

Roanoke River

  • Mary Anderson-Faison
  • Christie Avens
  • Tony Brown
  • Denise Cherry
  • Wanda Clark
  • Barbara Davis
  • Tyree Davis
  • Walter Gardner
  • C. Shane Lynch
  • Mark Macon
  • Ginny Orvedahl
  • Bryan Pierce
  • Bruce Robistow
  • Marcenda Rogers
  • Kristin Scott
  • Robin Williams

Southern Coast

  • Regina Alexander
  • Micki Bozeman
  • Marty Cooke
  • Joy Easley
  • Bob Grant
  • Mary Green
  • Teresa Parker
  • Gregory Sibbett
  • Deshondra Smith
  • Lynnine Webb
  • Justin Whiteside
  • Brenda Williams

Southern Mountain

  • Herbert Blake
  • Sheila Cozart
  • Kelley Craig
  • Johnny Duncan
  • Jim Fatland
  • Susan Frady
  • Ken Garrett
  • Wallace Hollis
  • Rocky Hyder
  • Cathy Justice
  • Jessica McCall
  • Holly Metcalf
  • David Nicholson
  • David Reid
  • Glenda Sansosti
  • Heather Smith

Southern Piedmont

  • Ben Bailey
  • Crystal Gilliard
  • Nyki Hardy
  • Scott Hopkins
  • Bonnie Huntley
  • Royal Link
  • Brian Matthews
  • Franco McGee
  • Shawn Oke
  • Kimberly Parker
  • Donald Patera
  • Brady Ross
  • Teresa Ross

Tar River

  • Tim Bilderback
  • Elton Daniels
  • Gordon Deno
  • Jessica Etheredge
  • Grant Goings
  • Latasha Hall
  • John Hunt
  • Cynthia Jones
  • Anison Kirkland
  • Troy Lewis
  • Nancy Nixon
  • Scott Parker
  • Robbin Pridgen
  • Wendy Rose
  • Pat Saunders
  • Dallas Shackleford
  • Keyana Walston
  • Andy Williams
  • Donna Wood


  • Bryan Alexander
  • Tony Beasley
  • Kanika Brown
  • Jason Cannon
  • TJ Cawley
  • Therman Cherry
  • Bennie Collins
  • Shonda Corbett
  • Michelle Daniels
  • Marchell David
  • Sandra Dixon
  • Michael Edmonds
  • Gregge Efird
  • Cecelia Farrell
  • Felex Gathings
  • Hannah Gathings
  • Cheryl Gay
  • Celeste Goddard
  • Eleanor Greene
  • Diana Harris
  • Randall Heath
  • Scottie Hinton
  • Denise Hogan
  • Dale Johnson
  • Forrest Jones
  • Kim Kenny
  • Eric Keravuori
  • Fontae Kilpatrick
  • Cindi King
  • Mike Latta
  • Laura McLaughlin
  • Donald Monah
  • Wendy Moody
  • Carla Morgan
  • Betty Pearce
  • Geoffrey Pearson
  • Erika Phillips
  • Jason Pleasant
  • James Purington
  • Sherry Scoggins
  • Aileen Staples
  • Ike Wheeler
  • Kenneth Wilkins
  • Chandra Wright
  • Todd Wright

Western Mountain

  • Shaun Adams
  • Victor Davis
  • Daphne Dockery
  • Mike Sheidy
  • Andy Williams

Western Piedmont

  • Scott Buffkin
  • Gray Cassell
  • Kimberly Dennings
  • Megan Garner
  • Martha Hancock
  • Stephen Hawryluk
  • Matti House
  • Dolly Hulin
  • Tony Jarrett
  • Andrew Lance
  • Chris Mack
  • Lynn McKinnie
  • Dora Moore
  • Ben Neal
  • Susan O'Brien
  • Hank Perkins
  • Ann Stroud
  • Jean Thompson
  • Cory Tobin

Western Sandhills

  • Bob Bridwell
  • Alisha Brown
  • Denise Cannon
  • Dena Cook
  • Jamie Dockery
  • Betty Galloway
  • Dawn Gilbert
  • Amanda Hart
  • Brandon Holland
  • Angie Kantor
  • Meta McCune
  • Joyce McGehee
  • Ebony McLean
  • Dee Ann Purvis
  • Jason Robinson
  • Melanie Rodgers
  • Regina Rosy
  • Marian Savage
  • Terry Tapp
  • Theresa Thomas
  • Sheila Trotter
  • Donna Wright

Western Triangle

  • Michael Adkins
  • Shelton Burnette
  • Tommy Cole
  • Lindsey Davidson
  • Bill Davis
  • Carol Dorsey
  • Lisa Edwards
  • Dylan Galloway
  • Montrena Hadley
  • Diana Harris
  • Tamara Hayes
  • Sylvia Johnson
  • Anita Jones-McNair
  • Frankie Maness
  • Ernest Mangum
  • Wilbert McAdoo
  • Todd Norman
  • Dale Norris
  • Whitney Powell
  • Angela Satterfield
  • Steven Stewart
  • Sean Tencer
  • Shannon Watkins
  • Susanna Williams

By the numbers

Membership total

in thousands

Membership total saw a 10% increase from 357,000 in 2019 to 372,000 in 2020. Totals in past years were: 292,000 in 2016, 321,000 in 2017, 340,000 in 2018.

Assets total

in millions

Assets total saw a 28% increase from 2,272 million in 2019 to 2,907 in 2020. Totals in past years were: 1,751 million in 2016, 1,909 million in 2017, 2,074 million in 2018.

Loan portfolio mix

Assets total saw a 28% increase from 2,272 million in 2019 to 2,907 in 2020. Totals in past years were: 1,751 million in 2016, 1,909 million in 2017, 2,074 million in 2018. Assets total saw a 28% increase from 2,272 million in 2019 to 2,907 in 2020. Totals in past years were: 1,751 million in 2016, 1,909 million in 2017, 2,074 million in 2018.

Investment portfolio mix

Assets total saw a 28% increase from 2,272 million in 2019 to 2,907 in 2020. Totals in past years were: 1,751 million in 2016, 1,909 million in 2017, 2,074 million in 2018. Assets total saw a 28% increase from 2,272 million in 2019 to 2,907 in 2020. Totals in past years were: 1,751 million in 2016, 1,909 million in 2017, 2,074 million in 2018.

Statements of Financial Condition

2020 2019
Cash & Investments $464,999,694 $198,170,754
Mortgage Loans $1,081,298,605 $813,828,298
Personal Loans $265,370,688 $259,576,392
Member Business Loans $115,068,163 $115,765,214
Home Equity Loans $104,089,674 $105,796,944
Auto Loans $516,959,353 $516,535,799
Credit Card Loans $100,057,349 $99,966,927
Allowance for Loan Losses ($24,515,068) ($21,929,469)
Net Loans $2,158,328,764 $1,889,540,104
National Share Insurance $22,894,650 $19,312,952
Other Assets $200,433,355 $127,240,575
Total Assets $2,846,656,463 $2,234,264,385
2020 2019
Payables $16,735,511 $18,315,620
Share Accounts $702,293,503 $490,481,069
Share Draft Accounts $566,724,751 $358,473,346
Money Market Accounts $793,244,055 $640,535,996
Individual Retirement Accounts $218,367,921 $204,071,361
Share Certificates $309,322,434 $311,886,215
Total Deposits $2,589,952,664 $2,005,447,987
Total Reserves and Undivided Earnings $239,968,288 $210,500,778
Total Liabilities & Equity $2,846,656,463 $2,234,264,385

Statements of Income

Operating Income
2020 2019
Investment Income $1,160,987 $3,645,535
Mortgage Loans $38,481,061 $33,821,568
Personal Loans $27,861,318 $25,828,827
Home Equity Loans $4,068,593 $4,931,531
Auto Loans $24,984,669 $25,281,738
Credit Card Loans $9,251,342 $10,717,267
Member Business Loans $3,717,537 $3,458,335
Total Loan Income $108,364,520 $104,039,266
Other Operating Income $48,173,427 $44,789,220
Total Income $157,698,934 $152,474,021
Operating Expenses
2020 2019
Operating Expenses $113,660,372 $115,253,260
Interest on Borrowed Funds $41,260 $111,499
Share Accounts $2,301,274 $2,786,906
Share Draft Accounts $577,990 $506,186
Money Market Accounts $4,180,668 $8,587,674
Individual Retirement Accounts $2,458,588 $4,681,737
Share Certificates $6,061,957 $5,270,559
Total Deposit Expense $15,580,477 $21,833,062
Total Expenses $129,282,109 $137,197,821
Net Operating Income $28,416,826 $15,276,200

Nature of operations

Local Government Federal Credit Union (the "Credit Union") is a not-for-profit cooperative that serves employees of local government units. The Credit Union is organized under the laws of the Federal Credit Union Act and is exempt, by statute, from federal and state income and sales taxes. The Credit Union serves its members through the State Employees’ Credit Union (SECU) network. This network includes more than 250 branches and more than 1,000 ATMs in all of North Carolina’s 100 counties. The Credit Union’s primary source of revenue is its loan portfolio.

Audited financial statements

The financial reports provided here have not been audited. The Credit Union’s accounting firm, CliftonLarsonAllen LLP, has audited financial statements for the annual periods ending June 30, 2020 and June 30, 2019, which are posted on the Credit Union’s website at www.lgfcu.org. These financial statements include a more in-depth financial analysis and extensive footnote disclosures that provide additional information on the results of the Credit Union for the respective period ends as noted above.