What is the difference between LGFCU and SECU…are they the same credit union?
On March 21, 1983, the National Credit Union Administration granted a federal charter for the N.C. Local Government Employees’ Federal Credit Union (LGFCU). Recognizing an opportunity for efficiency, LGFCU contracted the State Employees’ Credit Union (SECU) to deliver services to its members. LGFCU members go to SECU branches for loans and account services, as well as utilize their ATM network. LGFCU pays SECU to provide credit union services—an efficient and convenient way to serve the membership. Members also utilize LGFCU’s online services. Eligible individuals join LGFCU by visiting the nearest SECU branch office or by submitting the membership application to the Call Center, staffed seven days a week. It may be natural to assume that because LGFCU members go to SECU branch offices for services that the two credit unions are the same. The fact is, LGFCU is a separate financial institution from SECU. As such, LGFCU has an independent board of directors and management. Another distin
