Local Government Federal Credit Union: Serving Those Who Serve in North Carolina

With locations in all 100 counties in North Carolina and a commitment to enhance the quality of life for the entire state, the aptly-named Local Government Federal Credit Union welcomes government employees in North Carolina and their family members to use its affordable and empowering products and services.

Serving the Tar Heel State

Local Government Federal Credit Union’s mission is to improve the lives of its members. How that manifests in the programs, products, and services is evident in a myriad of offerings available in all 100 counties of North Carolina.

With a primary focus on its membership of employees of the city, county, police, firefighters, and other municipal and governmental departments throughout the “Tar Heel State,” Local Government Federal Credit Union (LGFCU) provides competitively priced banking-related products and services “from Murphy to Manteo,” with 270 physical locations.

In the words of President Mark R. Caverly, MBA, CUDE, “We know the jobs our members do protecting and serving our local communities is important, and we want them to be able to focus on that, not worry about hidden fees or not being able to pay their mortgages.”

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“Our day-to-day work revolves around serving our members’ needs and helping them manage their finances in convenient and affordable ways.”

Community Investment Enriches the Lives of North Carolina’s Public Servants

Serving the Community

Embedded in the philosophy of LGFCU’s leadership team is the long-held belief in the power that credit unions can have in helping working people maintain and improve their quality of life, whether they live in remote, rural areas in the further eastern and western areas of the state, in the big metropolises of Charlotte or Raleigh, or anywhere in between.

“Approximately 70 percent of our members live in economically distressed communities,” says Caverly.

“We want to lend deeper to have an even deeper impact.”

Not only does LGFCU provide affordable and accessible banking options, such as savings and checking accounts, it also provides loans for those who may not qualify for loans at other institutions, through its status as a Community Development Financial Institution (CDFI), a distinction earned in 2014 through the U.S. Treasury. This designation is based on a demonstrated commitment to serving members in communities that face economic challenges. In November 2019, a grant awarded from the Treasury to LGFCU further supported this effort.

Beyond the value LGFCU provides to its members through its exemplary service as a financial institution, it also improves the overall quality of life for all North Carolinians through a robust collection of community investment programs that demonstrate a deep understanding of all the factors that create opportunity and social mobility for working people.

Strategic Partnerships and the Development Finance Initiative

Two of the major areas in which LGFCU’s commitment can be seen are 1) its strategic partnerships, and 2) its involvement with the Development Finance Initiative through the University of North Carolina (UNC) School of Government.

“We have a number of partnerships that support improvement of North Carolina communities,” Caverly says, “and these partnerships are established in trust, cooperation, and sustainability.”

LGFCU partners with several organizations to make sure that the hardworking civil servants of North Carolina have access to affordable banking products and services, including:

• The North Carolina League of Municipalities
• The North Carolina Association of County Commissioners
• The North Carolina State Firefighters’ Association
• The North Carolina Recreation & Park Association

The relationship with the Firefighters’ Association is highlighted by a debit card offered to members, which generates financial support to firefighters and their families with each transaction. The relationship with the Recreation & Park Association helps fund scholarships and professional development opportunities for NCRPA members, marketing efforts for the profession, and local community projects.

The Development Finance Initiative (DFI) at the UNC School of Government assists local governments with attracting private investment for projects by offering finance and development expertise. The DFI staff works with North Carolina communities on infrastructure projects including building reuse; community development; downtown revitalization; economic development; neighborhood redevelopment; and small business finance. LGFCU is the sponsor of this ambitious program.

Investing in Employees, Expanding Creativity in Serving Members

Educating Leaders in The Community and Internally

LGFCU partners with the UNC School of Government on the LGFCU Fellows program, which provides a career-enriching certificate program open to emerging leaders working in North Carolina local government seeking to further their education and develop leadership, management, and organizational communication skills.

The program is responsible for changing the careers of hundreds of participants, who report both enhanced performance in current positions and promotions to more responsible positions after participating in the program. The program is competitive, and tuition free to participants.

In addition to the stewardship that LGFCU demonstrates to its members and the state at large, the Credit Union also brings a spirit of support and empowerment to the people at the heart of its mission: its employees.

Internally, in 2016 LGFCU launched The Academy, which focuses on developing and honing leadership competencies for current and aspiring management staff. Facilitated by the Human Resources department, The Academy includes four progressive programs—an overview course for staff interested in management; orientation for staff new to a management role; leadership development for staff identified as potential leaders; and executive development for senior leadership.

The Intern Experience, designed by LGFCU’s Human Resources department in 2017, provides meaningful work experience to college students, while populating the organization’s talent pipeline. Rather than relying on various departments to develop ad hoc internships to meet the particular needs of the day, LGFCU—ever the innovator—engineered a replicable multi-week experience that enriches the student while providing a meaningful look at real world work experience.

Caverly explains that these types of investments in employees ultimately result in an improved member experience and stronger communities across the state.

“We have always exhibited passion for living our mission, which is improving the lives of our members,” says Caverly, “and the impact is felt as communities and neighborhoods grow stronger when the people who make up those communities have the resources, infrastructure, and opportunities to help them achieve what they want and need in life.”

This content was provided by Financial Service Directory. Kiplinger is not affiliated with and does not endorse the company or products mentioned above.