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.
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: | 386,503 |
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, 2021 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $3,281,699,678 |
CEO/Manager: | Mark Caverly |
Chairperson: | Lin Jones |
ASSETS: | $ Amount |
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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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