Do LGFCU Members Want To Continue To Have Access to 275 Brances in Their Hometowns?

 

     Of course not! *

LGFCU members have always complained about having access to local branches.

Just ask them!

 

FAQ (from the LGFCU website)

 * Will a Separation mean I won't have access to branches anymore?

As an independent Credit Union, we do not plan to offer the traditional branch experience. Though we know some members have grown accustomed to in-person services, for many of our members, getting to a branch has been more difficult. We believe this shift will allow us to provide the same quality service you have come to expect from LGFCU, just in a different way. We are assessing what our continued engagement with our members will look like.

Because we created Civic Federal Credit Union, we have updated our technology infrastructure, which allows us to process daily transactions. This means we can serve members on our own and provide the same level of service you are familiar with at the branches. This also means that we won't have the overhead costs of supporting brick and mortar buildings. This savings will enable LGFCU to offer better rates for share accounts and loan products. 

* Is this separation a result of the recent changes in leadership at SECU and LGFCU?

No. When the LGFCU-SECU partnership agreement was signed in 1983, the intention was for both credit unions to work collaboratively to allow local government employees access to their credit union.

The agreement was never supposed to last a lifetime. This long-term credit union partnership is unprecedented in the industry and was created with a plan for eventual separation once LGFCU achieved certain growth goals. We have successfully exceeded these growth goals to become a $3.7 billion Credit Union with nearly 400,000 members. We believe now is the time for our independence.

The separation will enable both credit unions to focus on their respective memberships.

Most importantly, we want to ensure that the local government community continues to have its own Credit Union, one that is dedicated to meeting the unique needs of our public servants. We continue to be inspired by our local government members, and it truly is an honor for us to serve those who serve North Carolina so well.

 *Do members have a voice in the separation?

 While we welcome member feedback at independence@lgfcu.org, no official member vote will be taken.

 

* Might want to "fact check" the comments highlighted in yellow....