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LOCAL GOVERNMENT FEDERAL CREDIT UNION

Dec, 31, 2020 — LOCAL GOVERNMENT FEDERAL CREDIT UNION is a federal credit union headquartered in RALEIGH, NC with 0 branch location and about $2.85 billion in total assets. Opened 38 years ago in 1983, LOCAL GOVERNMENT FEDERAL CREDIT UNION has about 370,521 members and employs 232 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 253184537
Name:LOCAL GOVERNMENT FEDERAL CREDIT UNION
Address:
(Main Office)
3600 WAKE FOREST RD
RALEIGH, NC 27609-7309
Phone:(919) 755-0534
Fax:(919) 755-0193
Website:http://www.lgfcu.org
Branches:0 branch locations
Members:370,521
Credit Union Type:Federal Credit Union
Charter Number:24003
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1983
Last Audited:Jun 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$2,846,656,462
CEO/Manager:Mark Caverly
Chairperson:Lin Jones

Call Report

  • Commercial Loans
  • Overdraft Lines of Credit
  • Participation Loans
  • Pay Day Loans
  • Real Estate Loans
  • ATM/Debit Card Program
  • Check Cashing
  • First Time Homebuyer Program
  • Health Savings Accounts
  • Insurance/Investment Sales
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 462,036,405
TOTAL INVESTMENTS 2,963,289
Loans Held for Sale 0
 
 Real Estate Loans 1,203,344,552
 Unsecured Loans 361,160,220
 Other Loans 580,504,489
 TOTAL LOANS 2,145,057,747
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -24,515,068
 Land And Building 57,248,924
 Other Fixed Assets 5,310,069
 NCUSIF Deposit 22,894,650
 All Other Assets 175,660,446
  TOTAL ASSETS 2,846,656,462
LIABILITIES & CAPITAL:  
 Dividends Payable 478,424
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 15,057,086
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 1,200,000
 Share Drafts 566,724,751
 Regular shares 669,405,386
 All Other Shares & Deposits 1,353,822,527
  TOTAL SHARES & DEPOSITS 2,589,952,664
  TOTAL LIABILITIES 2,606,688,174
 Regular Reserve 8,568,384
 Other Reserves 2,076,482
 Undivided Earnings 229,323,422
  TOTAL EQUITY 239,968,288
  TOTAL LIABILITIES, SHARES, & EQUITY 2,846,656,462
INCOME & EXPENSE  
 Loan Income 108,364,520
 Investment Income 1,160,987
 Other Income 48,335,374
 Total Employee Compensation & Benefits 30,999,917
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 68,330,687
 Non-operating Income & (Expense) 515,035
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 15,006,749
 Cost of Funds 15,621,737
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 28,416,826
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