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.
Name: | LOCAL GOVERNMENT FEDERAL CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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