Changes coming soon to 2,647 LGFCU members in Kinston
LGFCU to end partnership with SECU,
enter new partnership for digital banking
Local Government Federal Credit Union (LGFCU) is ending its partnership with State Employees Credit Union (SECU) which will result in LGFCU customers losing access to physical bank branches. There are 2,647 LGFCU members in Kinston.
Sandra Jones, Senior Vice President | Communications, State Employees’ Credit Union said, “We are fully supportive of LGFCU's decision and committed to ensuring a successful transition period for their members. LGFCU and SECU will always share a commitment to improving the lives of our members.”
LGFCU will be partnering with Civic Federal Credit Union to offer digital banking to its customers.
Dwayne Naylor, CEO of LGFCU and Civic FCU, said, “We are growing and improving to better meet the financial needs our members expect. LGFCU and Civic offer superior products, unsurpassed rates, and exemplary member service online and in person -- and we will continue to do so. We exist to serve those who serve others -- and we'll meet them wherever they are, whenever they need us, including face-to-face, friend-to-friend.”
The move towards digital banking has received positive feedback from LGFCU members.
“Over the past six months, we have worked closely with our members across the state to hear from them first-hand on how to build the best possible organization to meet their financial needs. We've been pleased by the overwhelmingly positive feedback from our members, whose input has helped us refine our plan.”
Concerns have been raised about how the bank will provide services such as large cash transactions and safe deposit boxes without a physical location, but the bank is working to develop partnerships with popular branch services to provide these options.
“All of this comes at a time when LGFCU and Civic are on very strong financial footing. Both credit unions have grown in membership and deposits every year since their founding, which will continue. Simply put, we have the financial vigor, responsive management, and membership-driven plan for a bright future.”
The transition to digital banking is set to happen in March 2024, and LGFCU has assured its customers that their accounts will be transferred for them.
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