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LOCAL GOVERNMENT FEDERAL CREDIT UNION

Mar, 31, 2021 — LOCAL GOVERNMENT FEDERAL CREDIT UNION is a federal credit union headquartered in RALEIGH, NC with 0 branch location and about $3.10 billion in total assets. Opened 38 years ago in 1983, LOCAL GOVERNMENT FEDERAL CREDIT UNION has about 375,520 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:375,520
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:$3,102,795,007
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 657,943,352
TOTAL INVESTMENTS 62,251,256
Loans Held for Sale 0
 
 Real Estate Loans 1,276,877,319
 Unsecured Loans 353,042,096
 Other Loans 584,684,724
 TOTAL LOANS 2,214,688,288
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -24,127,874
 Land And Building 57,012,598
 Other Fixed Assets 4,784,583
 NCUSIF Deposit 22,894,650
 All Other Assets 107,348,154
  TOTAL ASSETS 3,102,795,007
LIABILITIES & CAPITAL:  
 Dividends Payable 361,371
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 15,451,891
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 1,200,000
 Share Drafts 619,377,961
 Regular shares 805,124,569
 All Other Shares & Deposits 1,413,007,007
  TOTAL SHARES & DEPOSITS 2,837,509,537
  TOTAL LIABILITIES 2,854,522,799
 Regular Reserve 8,568,384
 Other Reserves 1,341,637
 Undivided Earnings 238,362,187
  TOTAL EQUITY 248,272,208
  TOTAL LIABILITIES, SHARES, & EQUITY 3,102,795,007
INCOME & EXPENSE  
 Loan Income 28,560,430
 Investment Income 191,609
 Other Income 1,996,353
 Total Employee Compensation & Benefits 8,796,886
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 19,474,353
 Non-operating Income & (Expense) 18,204
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 2,855,000
 Cost of Funds 2,278,281
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 9,038,765
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