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**Local Government Federal Credit Union: Serving North Carolina’s Local Government Employees and Volunteers**

Local Government Federal Credit Union (LGFCU) is a not-for-profit cooperative that caters exclusively to the needs of North Carolina’s local government employees and volunteers, elected and appointed officials, and their families. Established in 1983 and granted a federal charter, LGFCU operates a network of more than 250 branches and over 1,000 CashPoints ATMs across the state.

**Local Government Federal Credit Union Offerings**

LGFCU provides a range of deposit accounts to assist its members in achieving their savings objectives. These offerings include various checking, savings, and certificate of deposit (CD) accounts, as well as a money market account.

***Checking and Savings Accounts***

LGFCU offers two types of checking accounts and multiple savings accounts tailored to different savings goals. Dividends earned on these accounts are compounded daily and paid monthly. Although LGFCU does not currently provide a free checking account option, the associated monthly fees are minimal. Additionally, a high-yield savings account is currently unavailable.

– **Checking Account**:
– APY: 0.15%
– Minimum opening deposit: None
– Minimum balance: $0
– Fees:
– Monthly fee: $1
– Overdraft fee: $25
– ATM fee: None

– **CashPoints Global Account**:
– APY: N/A
– Minimum balance: $0
– Fees: None

– **Share Account**:
– APY: 0.75%
– Minimum balance: $25
– Fees:
– $1 service fee if balance drops below minimum

– **FAT CAT Kids Account**:
– APY: 0.75%
– Minimum opening deposit: $5

– **Health Savings Account (HSA)**:
– APY: 2.22%
– Minimum opening deposit: $0

– **Holiday Cash Club Account**:
– APY: 0.75%
– Minimum balance: $5

– **Coverdell Education Savings Account (ESA)**:
– APY: 2.22%
– Minimum opening deposit: $25
– Fees:
– $1 service fee if balance drops below minimum

***Money Market Accounts***

LGFCU provides a competitive interest rate on its money market account.

– **Money Market Share Account**:
– APY: 2.02%
– Minimum balance: $250
– Fees:
– $2 service fee if balance drops below minimum

***Certificates of Deposit***

For members seeking higher yields by maintaining their savings with the credit union for an extended period, LGFCU offers a range of CDs with attractive rates.

– **Share Term Certificate**:
– APY:
– 6-month: 5.00%
– 12-month: 5.25%
– 18-month: 5.50%
– 24-month: 4.80%
– 30-month: 3.95%
– 36-month: 4.00%
– 48-month: 4.20%
– 60-month: 4.50%
– Minimum deposit: $250
– Fees:
– Early withdrawal penalty: Contact credit union for fee information

**Other Services Offered by Local Government Federal Credit Union**

In addition to its extensive deposit account offerings, LGFCU provides various supplementary products and services, including:

– **Loans**: LGFCU offers auto loans, personal loans, mortgage loans, home equity lines of credit (HELOCs), and more.
– **Individual Retirement Arrangements (IRAs)**: LGFCU offers traditional, Roth, and SEP IRAs.
– **Insurance**: LGFCU provides homeowners, auto, life, and AD&D insurance policies.
– **Credit Cards**: LGFCU offers credit cards with competitive interest rates and no annual fees.

**The LGFCU Platform and Customer Support**

LGFCU offers an online banking platform that enables members to manage their finances at any time and communicate with a representative if necessary. The credit union also has a highly rated mobile app, with a 4.9-star rating on the Apple Store (designed for iPad) and a 4.8-star rating on Google Play.

For customer service inquiries, members can call the toll-free number 888-732-8562. LGFCU’s member service support staff are available 24/7. Alternatively, members can send secured messages by logging into Member Connect.

**Pros and Cons of Local Government Federal Credit Union**

Before becoming a member of LGFCU, it is important to consider the following pros and cons:

***Pros***

– Low minimum opening deposits
– Competitive CD rates
– Highly rated mobile app

***Cons***

– Monthly service fees
– Membership limited to North Carolina residents

**Frequently Asked Questions about Local Government Federal Credit Union**

***Is Local Government Federal Credit Union the same as SECU?***

No, LGFCU and SECU are two separate credit unions. However, since 1983, LGFCU has partnered with SECU, and SECU serves LGFCU members through its statewide branch network.

***Who can join Local Government Federal Credit Union?***

LGFCU has an extensive field of membership, open to North Carolina’s local government employees and volunteers, elected and appointed officials, and their families. Membership is also available to individuals associated with local government employees and volunteers.

***What is the address for Local Government Federal Credit Union?***

The headquarters of LGFCU is located at the following address:

Quorum Center
323 West Jones Street, Suite 600
Raleigh, NC 27603