Competitive Rates for Savings Growth: A Closer Look at Local Government Federal Credit Union in 2023

Review: Local Government Federal Credit Union



Local Government Federal Credit Union (LGFCU) is a not-for-profit cooperative dedicated to serving North Carolina's local government employees, volunteers, elected and appointed officials, and their families. Since its federal charter in 1983, LGFCU has established a network of over 250 branches and 1,000 CashPoints ATMs across the state. Offering various types of deposit accounts, including checking, savings, CDs, and a money market account, LGFCU aims to assist members in achieving their savings goals. While there is no free checking account available at the moment, the credit union supports growth by rewarding compound daily dividends paid monthly on the accounts. Additionally, LGFCU provides competitive interest rates on its money market account and a variety of CDs that offer some of the best rates currently available. Beyond savings, LGFCU offers loans, IRAs, insurance policies, and credit cards with attractive features. The credit union also provides a user-friendly online banking platform, complemented by a highly rated mobile app. However, it is essential to note that LGFCU is limited to North Carolina residents for membership. Ultimately, with its low minimum opening deposits, competitive rates, and convenient services, LGFCU presents a compelling option for individuals associated with local government entities in North Carolina.

with local government entities. However, for individuals in North Carolina who meet the membership criteria, LGFCU presents a compelling option for their financial needs.

Exclusive Financial Services for North Carolina's Local Government Community


Local Government Federal Credit Union (LGFCU) is a not-for-profit cooperative that exclusively serves North Carolina's local government employees, volunteers, elected and appointed officials, and their families. Established in 1983, LGFCU has since grown to establish a network of over 250 branches and 1,000 CashPoints ATMs across the state, providing convenient access to members.

LGFCU offers a range of deposit accounts tailored to assist members in achieving their savings goals. These include various checking, savings, CDs, and a money market account option. While there is currently no free checking account available, the credit union supports growth by rewarding compound daily dividends paid monthly on these accounts. With competitive interest rates on their money market account and a variety of CDs, LGFCU offers members attractive options for maximizing their savings.

Beyond deposit accounts, LGFCU also provides several other financial products and services. This includes loans such as auto loans, personal loans, mortgage loans, and home equity lines of credit (HELOCs). They also offer Individual Retirement Arrangements (IRAs) in different variants and insurance policies covering homeowners, auto, life, and AD&D.

Convenience is a priority for LGFCU, as they offer a user-friendly online banking platform accessible 24/7. Members can manage their funds, send secured messages to customer service, and take advantage of the highly rated mobile app, available on both Apple and Android devices.

It's important to note that membership with LGFCU is limited to North Carolina residents, specifically those associated

with local government entities. However, for individuals in North Carolina who meet the membership criteria, LGFCU presents a compelling option for their financial needs.

With over 250 branches and 1,000 ATMs statewide, LGFCU offers convenient access to its members, ensuring that they can manage their finances easily. The credit union's range of deposit accounts, including checking, savings, CDs, and a money market account, provides members with various options to suit their savings goals. The competitive interest rates on the money market account and CDs make LGFCU an attractive choice for individuals looking to grow their savings.

In addition to deposit accounts, LGFCU offers a comprehensive range of financial products and services, including loans, IRAs, insurance policies, and credit cards. This one-stop-shop approach allows members to access all their financial needs under one roof.

LGFCU's commitment to providing exceptional service is evident through its user-friendly online banking platform and highly rated mobile app. Members can easily manage their accounts, access customer support, and conduct transactions at their convenience.

While membership is limited to North Carolina residents affiliated with local government entities, those who meet the criteria can greatly benefit from LGFCU's low minimum opening deposits, competitive rates, and convenient services.