Local Government Federal Credit Union


Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
2.25%5-year CD60 Month CD
2.00%3-year CD36 Month CD
1.25%6-month CD6 Month CD

Overview / Commentary
919-755-0534
323 W Jones St Ste 600
Raleigh, NC 27603-1369

Local Government Federal Credit Union is headquartered in Raleigh and is the 4th largest credit union in the state of North Carolina. It is also the 125th largest credit union in the nation. It was established in 1983 and as of June of 2018, it had grown to 177 employees and 331,966 members at 2 locations. Local Government Federal Credit Union's money market rates are 2X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership in Local Government Federal Credit Union is open to employees or volunteers with municipalities in North Carolina, including cities, towns and villages, county governments, and other government-related organizations and family of existing members.
See current membership details

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Happy Member for over 8 years

I have been a member of my local credit union for almost 9 years now. I have never had any negative experiences with them. I have two checking accounts and a savings account with my local credit union. When it comes to making deposits, it is super quick and easy, even on the busiest days. They know me well and always address me by name. Sometimes they will ask if I have my kids with me and will give a sticker to both my boys. It's always nice to know they remember my family. My debit card number was once compromised and some fraudulent purchases were made online. When I called them, they were very friendly and eager to help me. They were very professional with the whole process and gave me peace of mind, and they even refunded the full amount that had been stolen. Many people do not like the monthly $1.00 fee to use their services but I would gladly pay $10 a month to stay with my local credit union. Their loan rates also are the best around. I've never needed a personal loan from my credit union but I would shop there first before going elsewhere. I know I can rest assured by doing my banking with my local credit union.

Credit Union for the People

I've banked with my local credit union for 9 years and I signed up with them when we moved into the area. There are only two locations in our local area and I frequent one of those closest to me. I originally decided to open an account with them because my husband did, but I've learned that they are the best around. With the option we have locally (which is a very small area) there are a couple of big named banks and I did have another account there but closed it due to the fact that they never recognized me when I came in. My credit union almost always has the same people at the teller desk and they recognize me and ask me about my kids. Between my husband and I we have several accounts, some joint and some not, my regular teller knows the accounts apart due to my needs and I don't have to explain in detail which one I want to work with. There has also been the same account manager at the same location since I can remember. He also knows us and is very knowledgable on our investing needs and account needs. Normally they have better than competitive rates and they always have time for us to explain the best options. The best story I have is that we were on vacation in NYC and someone hacked one of our accounts. We didn't know that it had happened, but the bank caught it that same day and called us immediately to let us know. They took care of everything and had constant communication with us.

My Banking Institution

I think this the best credit union in my opinion because people are very helpful and have a great online banking website. I often purchase items online and can easy see my purchases made when I look at my account online. The online banking website is very easy to understand and navigate. They often post great financial tips and also a financial calculator to help with balances. I would not change. I will continue to bank with this credit union because of helpful advice and great customer service. I would refer people if they are looking to bank with a great bank that has great reputation offers great services.

Local Government Federal Credit Union

Posted by: Growdock | Sep 7, 2017

I have been a member of LGFCU for 8 years now. I have a checking and savings account with them. I also have taken out a personal loan with them in the past. I've had only good experiences with this bank. Their tellers are friendly, their fees are minimal, and their interest rates are competitive. The only complaints that I have are that they don't have more convenient hours and that they don't offer the most advanced technology. I would give them a better rating if their hours were more convenient or if they offered a way to deposit checks online by taking a picture so I wouldn't have to go to the bank at all. But with that being said, it's kind of hard to complain when the fees and interest rates are good. I guess it's a trade off. I did have an experience a few years ago in which a store charged me without my authorization. I contacted the bank and they told me that I would have to contact the company to get my money back and they gave me the information to do so. In the mean time, since they felt that my debit card had been compromised, they cancelled that card and sent me a new one without charging me anything. I was able to get the money back through the company and the bank was quick to respond with getting me a new card, I just wish they would've done more on their end. What if the company had refused to refund me? Would I have been stuck with paying for something that I didn't buy?

VIEW MORE REVIEWS

Health
B+

Health Grade Components

Overall
NCUA #24003
Year Chartered1983
Employees177
Primary Regulator
Profit Margin
Return on Assets - YTD1.45%
Return on Equity - YTD15.42%
Annual Interest Income$45.4MM
Assets and Liabilities
AssetsQ2 2018vs Q2 2017$2.02B$1.89B
LoansQ2 2018vs Q2 2017$1.68B$1.49B
DepositsQ2 2018vs Q2 2017$1.82B$1.71B
Equity CapitalQ2 2018vs Q2 2017$189.2MM$164.8MM
Secondary CapitalQ2 2018vs Q2 2017$2.0MM
Loan Loss AllowanceQ2 2018vs Q2 2017$16.9MM$14.3MM
Unbacked Noncurrent LoansQ2 2018vs Q2 2017$24.9MM$20.2MM
Real Estate OwnedQ2 2018vs Q2 2017$1.7MM$2.4MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not Local Government Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

Local Government Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.02%--Traditional IRA Savings
2.02%--Roth IRA Savings
2.02%--SEP IRA Savings
2.02%--Coverdell Education Savings Account
2.02%--Health Savings Account
0.75%$5-Fat Cat
0.75%$25-Zard
0.75%--Holiday Cash Club
0.50%$25-Share

Local Government Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.01%$250-Money Market Account

Local Government Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%--Interest Checking

Local Government Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.25%$250-60 Month CD
2.00%$250-36 Month CD
2.00%$250-48 Month CD
1.75%$250-24 Month CD
1.75%$250-30 Month CD
1.50%$250-12 Month CD
1.50%$250-18 Month CD
1.25%$250-6 Month CD

Local Government Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.25%$250-60 Month IRA
2.00%$250-36 Month IRA
2.00%$250-48 Month IRA
1.75%$250-24 Month IRA
1.75%$250-30 Month IRA
1.50%$250-12 Month IRA
1.50%$250-18 Month IRA
1.25%$250-6 Month IRA
Locations


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

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