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LOCAL GOVERNMENT FEDERAL CREDIT UNION

Jun, 30, 2021 — LOCAL GOVERNMENT FEDERAL CREDIT UNION is a federal credit union headquartered in RALEIGH, NC with 0 branch location and about $3.12 billion in total assets. Opened 38 years ago in 1983, LOCAL GOVERNMENT FEDERAL CREDIT UNION has about 380,459 members and employs 238 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:380,459
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:$3,121,372,526
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 535,677,292
TOTAL INVESTMENTS 87,715,199
Loans Held for Sale 0
 
 Real Estate Loans 1,356,426,251
 Unsecured Loans 366,484,146
 Other Loans 603,640,942
 TOTAL LOANS 2,326,615,798
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -23,576,739
 Land And Building 56,502,868
 Other Fixed Assets 4,474,381
 NCUSIF Deposit 25,134,323
 All Other Assets 108,829,404
  TOTAL ASSETS 3,121,372,526
LIABILITIES & CAPITAL:  
 Dividends Payable 327,137
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 15,142,417
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 1,200,000
 Share Drafts 563,779,784
 Regular shares 821,347,751
 All Other Shares & Deposits 1,453,079,224
  TOTAL SHARES & DEPOSITS 2,838,206,759
  TOTAL LIABILITIES 2,854,876,313
 Regular Reserve 8,568,384
 Other Reserves 1,875,025
 Undivided Earnings 256,052,804
  TOTAL EQUITY 266,496,213
  TOTAL LIABILITIES, SHARES, & EQUITY 3,121,372,526
INCOME & EXPENSE  
 Loan Income 57,635,064
 Investment Income 657,001
 Other Income 4,010,129
 Total Employee Compensation & Benefits 17,716,463
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 38,992,035
 Non-operating Income & (Expense) 21,715
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 3,755,000
 Cost of Funds 4,565,212
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 26,729,383
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