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Overview / Commentary
323 W Jones St Ste 600
Raleigh, NC 27603

Local Government Credit Union is headquartered in Raleigh and is the 4th largest credit union in the state of North Carolina. It is also the 143rd largest credit union in the nation. It was established in 1983 and as of December of 2013, it had grown to 99 employees and 235,762 members. Local Government Credit Union's savings rates are 3X the national average, and it has a B health rating.

Field of Membership Restrictions

You must be affiliated with either a local government unit as an employee, elected official or volunteer, or be a family member of a current member. - See Details

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Data for Q4 2013

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Local Government Credit Union had $20.36 million in non-current loans and owned real-estate with $101.8 million in equity and loan loss allowances on hand to cover it. This gives Local Government Credit Union a Texas Ratio of 20.00% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Local Government Credit Union experienced no significant changes from 15.79% as of December 31, 2012 to 20.00% as of December 31, 2013, resulting in a negative change of 26.63%. This indicates that the balance sheet and financial strength for Local Government Credit Union has had no significant changes in recent periods.

Deposit Growth


In the past year, Local Government Credit Union has increased its total deposits by $85.86 million, resulting in 7.62% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Local Government Credit Union has shown is excellent.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Local Government Credit Union has $1.31 billion in assets with $101.8 million in equity, resulting in a capitalization level of 7.74%, which is below average.

Institution Statistics

NCUA #24003
Year Chartered1983
Primary Regulator
Assets and Liabilities
Assets$1.31 billion
Loans$894.40 million
Deposits$1.21 billion
Equity Capital$95.35 million
Loan Loss Allowance$6.45 million
Unbacked Noncurrent Loans$18.97 million
Real Estate Owned$1.38 million
Historic Data - December 2012
Assets$1.23 billion
Equity Capital$102.24 million
Loan Loss Allowance$5.66 million
Unbacked Noncurrent Loans$18.97 million
Real Estate Owned$3.09 million
Profit Margin - Quarterly
Net Interest Margin3.74%
Return on Assets1.02%
Return on Equity14.09%
Interest Income$45.49 million

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Local Government Credit Union Savings Account Rates

1.51%--Health Savings Account
1.01%--Traditional IRA Savings
1.01%--Roth IRA Savings
1.01%--SEP IRA Savings
1.01%--Coverdell Education Savings Account
0.25%$25-Fat Cat
0.25%$25-Golden Circle
0.25%$25-Holiday Cash Club

Local Government Credit Union Money Market Rates

0.35%$250-Money Market Account

Local Government Credit Union Checking Account Rates

0.15%--Interest Checking

Local Government Credit Union CD Rates

1.15%$250-48 Month CD Certificate
1.15%$250-60 Month CD Certificate
0.90%$250-30 Month CD Certificate
0.90%$250-36 Month CD Certificate
0.75%$250-12 Month CD Certificate
0.75%$250-18 Month CD Certificate
0.75%$250-24 Month CD Certificate
0.50%$250-6 Month CD Certificate

Local Government Credit Union Locations
Branch Office323 WJones St Ste 600Raleigh, NC 27603-1369
Branch Office323 W Jones St Ste 600Raleigh, NC 27603-1369