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LOCAL GOVERNMENT FEDERAL CREDIT UNION

Mar, 31, 2022 — LOCAL GOVERNMENT FEDERAL CREDIT UNION is a federal credit union headquartered in RALEIGH, NC with 0 branch location and about $3.50 billion in total assets. Opened 39 years ago in 1983, LOCAL GOVERNMENT FEDERAL CREDIT UNION has about 390,949 members and employs 216 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:390,949
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:$3,496,308,195
CEO/Manager:Mark Caverly
Chairperson:Ken Noland

Call Report

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

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 329,305,273
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 1,814,381,187
 Unsecured Loans 403,026,378
 Other Loans 640,433,129
 TOTAL LOANS 2,857,923,775
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -22,934,932
 Land And Building 55,296,341
 Other Fixed Assets 3,546,035
 NCUSIF Deposit 27,480,771
 All Other Assets 626,768
  TOTAL ASSETS 3,496,308,195
LIABILITIES & CAPITAL:  
 Dividends Payable 292,698
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 16,902,713
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 800,000
 Share Drafts 665,560,367
 Regular shares 963,575,303
 All Other Shares & Deposits 1,548,445,417
  TOTAL SHARES & DEPOSITS 3,177,581,087
  TOTAL LIABILITIES 3,195,576,498
 Regular Reserve 0
 Other Reserves -4,569,207
 Undivided Earnings 305,300,904
  TOTAL EQUITY 300,731,697
  TOTAL LIABILITIES, SHARES, & EQUITY 3,496,308,195
INCOME & EXPENSE  
 Loan Income 32,582,385
 Investment Income 508,085
 Other Income 2,540,850
 Total Employee Compensation & Benefits 9,066,925
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 20,912,029
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 2,840,000
 Cost of Funds 1,858,819
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 13,014,371
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