Local Government Federal Credit Union of North Carolina will soon part ways with State Employees’ Credit Union after years of collaboration and codependency. The decision follows years of mutual benefit.
LGFCU provides services across a wide variety of membership sectors and works alongside SECU to offer members full services through its state branch network.
Member-Owned
Credit unions are member-owned institutions whose profits are returned directly back to members in the form of lower rates and fees for services provided as well as focus on meeting members’ financial needs. Membership can be offered to anyone meeting minimum eligibility criteria – employees of local government agencies as well as volunteers serving their communities can all become members.
LGFCU is a North Carolina federal credit union dedicated to serving local government employees and their families since 1983. Although we operate separately from State Employees Credit Union (SECU), we contract with SECU so our members have full access to its branch and ATM network.
As a full-service financial institution, LGFCU provides deposit accounts (checking and savings accounts), loans and other services. Our investments are managed through CU Investment Services of SECU which is fully regulated by NCUA and has the full faith and credit of the United States government backing their service.
Member-Focused
Not-for-profit financial cooperatives are democratically run entities governed by volunteer Boards of Directors. Their policies and decisions reflect what’s in the best interests of its members – one of the hallmarks of credit union membership.
Civic not only offers products and services that compete with national banking providers, but it also uses its platforms to amplify local government efforts through research, investments, and partnerships aimed at empowering their work – these partnerships utilize Civic’s capabilities for providing holistic financial experiences to communities around the country.
LGFCU serves a diverse membership in North Carolina local government employees and volunteers, elected or appointed officials and their families. LGFCU partners with State Employees Credit Union (SECU), to offer members full services at its branch network across North Carolina. Although both LGFCU and SECU remain separate entities, their partnership gives their combined members access to products designed specifically for them – saving, borrowing and managing finances has never been simpler!
Member-Driven
Credit unions are non-profit, tax-exempt organizations. Their members can take advantage of banking services provided, vote for board members and participate in numerous community programs.
LGFCU strives to assist its members in achieving financial health. To this end, it provides an array of financial products and services including checking and savings accounts with competitive interest rates as well as low-cost loans and various IRA accounts.
Credit union membership at this branch spans local government employees, volunteers, elected and appointed officials as well as their families in North Carolina. Through partnership with State Employees Credit Union (SECU), its members gain full access to SECU’s branch network for added convenience.
Secondary capital loan program enhances the credit union’s capacity to offer safe, cost-effective loans to members. Part of a wider effort to maximize local government leaders and community solutions’ impact. Furthermore, this initiative aids community initiatives like ncIMPACT Initiative.
Member-Centric
Credit unions are financial cooperatives that offer their members a range of financial services such as loans, investments, savings and debit and credit cards – plus financial education and advocacy. Unlike banks however, credit unions are non-for-profit and protected by the National Credit Union Administration (NCUA).
NCGFCU offers several deposit accounts, such as checking and savings accounts that pay dividends; money market accounts with competitive interest rates; CD accounts that guarantee competitive interest rates, plus several more.
Jazmine Dezarn is a Certified University Diversity Education (CUDE) working in local government and co-host of Brunch With Jaz, an educational podcast on diversity, equity and inclusion. She earned both her undergraduate and master’s degrees at Appalachian State University as well as being on the Board of Crosby Scholars Winston-Salem NC where she helps low-income families prepare for postsecondary opportunities and college admissions.
Leave a Reply