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LOCAL GOVERNMENT FEDERAL CREDIT UNION

Dec, 31, 2021 — LOCAL GOVERNMENT FEDERAL CREDIT UNION is a federal credit union headquartered in RALEIGH, NC with 0 branch location and about $3.28 billion in total assets. Opened 39 years ago in 1983, LOCAL GOVERNMENT FEDERAL CREDIT UNION has about 386,503 members and employs 226 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:386,503
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, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$3,281,699,678
CEO/Manager:Mark Caverly
Chairperson:Lin Jones

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 309,235,317
TOTAL INVESTMENTS 97,808,717
Loans Held for Sale 0
 
 Real Estate Loans 1,643,909,151
 Unsecured Loans 396,014,626
 Other Loans 628,029,022
 TOTAL LOANS 2,667,997,935
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -23,167,551
 Land And Building 55,697,229
 Other Fixed Assets 4,022,045
 NCUSIF Deposit 27,480,771
 All Other Assets 142,625,215
  TOTAL ASSETS 3,281,699,678
LIABILITIES & CAPITAL:  
 Dividends Payable 297,083
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 14,654,646
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 800,000
 Share Drafts 586,435,555
 Regular shares 878,981,783
 All Other Shares & Deposits 1,506,712,797
  TOTAL SHARES & DEPOSITS 2,972,130,135
  TOTAL LIABILITIES 2,987,881,864
 Regular Reserve 8,568,384
 Other Reserves 1,531,282
 Undivided Earnings 283,718,148
  TOTAL EQUITY 293,817,814
  TOTAL LIABILITIES, SHARES, & EQUITY 3,281,699,678
INCOME & EXPENSE  
 Loan Income 119,369,682
 Investment Income 1,794,653
 Other Income 8,859,299
 Total Employee Compensation & Benefits 36,239,304
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 80,308,668
 Non-operating Income & (Expense) 139,044
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 5,772,359
 Cost of Funds 8,567,251
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 54,394,727
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