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Local Government Federal Credit Union

Popular Accounts at this Credit Union

1.75%5-year CD60 Month CD Certificate
1.25%3-year CD36 Month CD Certificate
0.50%6-month CD6 Month CD Certificate

Overview / Commentary
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 124th largest credit union in the nation. It was established in 1983 and as of June of 2017, it had grown to 170 employees and 306,234 members at 2 locations. Local Government Federal Credit Union's money market rates are 36% higher than 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.
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Reviews (8)

Best Credit Union Around

Posted by: careywolf | Aug 13, 2017

I currently bank with Local Government Credit Union. I go to the bank at least twice a week and the people working at the credit union are great. They call you by your last name and acknowledge you as soon as you come in the bank. The deposits are credited that day. If they have to place a hold on your money they explain it to you and also give you a letter to sign stating that you understand why they are holding the funds. When you call the bank for anything they make sure you understand the answer before hanging up. I have seen them with the elderly and they do a great job making sure the elderly are ok and understand things. They are kind and you never feel rushed to make your transaction complete. If you forget a deposit slip or something they will help you write out one. I never have unplanned service charges on my account either. I just really love the Local Government Credit Union and all they do for me. They make me feel safe putting my money in their bank.

Great credit union!

The Local Government Credit Union is fantastic. It is the best bank/financial institute around. They are owned by their members and not by their investors. I have always received the best customer service there. I have a money market with them which pays a decent rate in today's world. My son will be needed a car soon because he just turned 16. I will be going to the credit union to get this loan. I would recommend this bank to all my friends and family. They treat me with respect even though I do not have a lot of money with them. They make me feel as if I'm a very important customer.

Credit Union review

My husband and I have been banking at our Local Government Federal Credit Union for about fourteen to fifteen years now. We love it because the rates for the checking and savings accounts are extremely reasonable. We only pay one dollar a month for our checking account and no monthly fee for our savings accounts as long as we keep the minimum of $25 in the account. The regular bank that we used before was at least six or seven dollars a month for checking. We opened savings accounts for both of our kids. We, also, opened a holiday savings account. The representatives are always very friendly and helpful when I need to go inside. They have chances to win an ipad for the kids that make deposits into their savings accounts during special promotions. It is the only banking establishment that I have be into that has a public restroom and it is always clean.

Great Credit Union that Needs to get into the Mobile Market

Posted by: hottovix | Sep 2, 2015

I cannot being to say how great this credit union has been to me. I have been to other banks, but LGFCU always treats me with dignity and respect every time that I walk in to have any transaction done. They also take the time to speak with me as a person should do, instead of just give me money when I ask to withdraw it. Their rates are pretty competitive as far as I've seen with the other local banks. They offer a variety of accounts so they should be able to help whoever with any type of account that should fit them. The one negative thing I will say about LGFCU is that they don't have any mobile app available. To counter this, I had to add a shortcut to their website on my phone's home screen. I do feel that they should have an app for ease of use, and hope to see one in the near future.

Best Credit Union in Eastern NC

Posted by: godsgirl | Jul 10, 2015

The Local Government Federal Credit Union is really a wonderful credit union to belong to. They have help my husband and I buy a home and several cars over the years. When my husband was looking for a line of credit to do some home repairs, this credit union was fast to help him get the money he needed. The tellers and all personnel are polite and very helpful. They even suggest doing things outside of their institution if it will help us in the long run. It is conveniently located in town. There is an ATM located at this spot. There are activities for kids to do while parents are doing business with the credit union. I would definitely recommend this credit union to anyone who was interested in become a member there.

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?

Local Government Credit Union

Posted by: joshm | Nov 23, 2015

Local Governments Credit Union is a great bank for local government employees in North Carolina. They offer great rates on loans and great first time buyer rates for houses and cars. They have some great features like 2nd chance alerts which allows you the opportunity to deposit money into your bank account before a check is returned, as well as overdraft options and even pay advances for emergencies. I would highly recommend this bank to anyone that is eligible for their services.


Health Grade Components

NCUA #24003
Year Chartered1983
Primary Regulator
Profit Margin
Return on Assets - YTD0.25%
Return on Equity - YTD2.83%
Annual Interest Income$38.2MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$1.89B$1.71B
LoansQ2 2017vs Q2 2016$1.49B$1.23B
DepositsQ2 2017vs Q2 2016$1.71B$1.55B
Equity CapitalQ2 2017vs Q2 2016$164.8MM$155.4MM
Loan Loss AllowanceQ2 2017vs Q2 2016$14.3MM$9.8MM
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$20.2MM$20.1MM
Real Estate OwnedQ2 2017vs Q2 2016$2.4MM$1.3MM
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Local Government Federal 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
0.75%$25-Fat Cat
0.75%$25-Holiday Cash Club

Local Government Federal Credit Union Money Market Rates

0.60%$250-Money Market Account

Local Government Federal Credit Union Checking Account Rates

0.15%--Interest Checking

Local Government Federal Credit Union CD Rates

1.75%$250-60 Month CD Certificate
1.50%$250-48 Month CD Certificate
1.25%$250-36 Month CD Certificate
1.00%$250-18 Month CD Certificate
1.00%$250-24 Month CD Certificate
1.00%$250-30 Month CD Certificate
0.75%$250-12 Month CD Certificate
0.50%$250-6 Month CD Certificate

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