For almost 60 years, LGE Community Credit Union has been a federally-insured, banking alternative. There are eight locations throughout northwest Georgia, including one right here in Calhoun at 512 West Belmont Street.
For those that may not know, there are several key differences between a bank and a credit union. Most importantly, a credit union has no stockholders and no paid directors.
So, instead of setting aside profits for those individuals, LGE is able to offer its account holders higher earnings on checking and savings accounts, lower rates on loans, and lower fees than you would typically find at a bank. Credit unions, in general, exist to serve its account holders, or members. The emphasis is on people, not profits. Also, many people don’t realize that LGE is federally-insured, meaning your money is safe. Deposits are federally insured up to $250,000 by the National Credit Union Share Insurance Fund and backed by the full faith and credit of the U.S. Government, just as the FDIC insures bank deposits.
Some people may not realize that credit unions, like LGE, are able to offer full-service banking, such as a variety of accounts, online services (like Bill Pay and Home Banking), and ATM services. One of the best products is the High Rate CheckingSM account, which offers a much higher rate than you will typically find at other financial institutions.
It rewards you just for meeting criteria that are already widely practiced, including electronic statements, online banking, use of an LGE Visa® debit and/or credit card, and a direct deposit. Check out the website at www.LGEccu.org for more information about the rate and the benefits of this product. The High Rate Checking account is unique in that we’ve been able to maintain an exceptionally high rate for more than two years, even in today’s economic climate. There is no minimum deposit required and no monthly fees on this checking account.
As part of LGE’s commitment to financial literacy and teaching students the importance of good saving and spending habits, we launched youth savings accounts a few months ago. The youth savings accounts are a great way for parents to teach their kids the importance of saving, but to also give youth the opportunity to learn how to manage their own account because they are the primary account holder. The account has a minimum balance of only $5.00, and they can deposit into it at any time. There are three clubs, depending on the student’s age and as they get older, they automatically migrate to the next club.
The Dollar Dog Kids Club® (ages 5 – 12), Cha-ChingSM (ages 13 – 17), and the EdgeSM (ages 18 – 22) each earn 5.00% APY* on the first $500 in their account, which is a great incentive for saving! Each club has their own website with interactive learning tools, and both the Dollar Dog Kids Club and Cha-Ching account have quarterly newsletters for its account holders. Enrollment is free and only requires a $5 initial deposit to open the account.
As a community credit union, LGE takes its commitment to the communities and citizens its serves very seriously. In 2009 alone, the credit union actively participated in over 100 events, such as high school football games, local festivals and parades, and Chamber of Commerce actives. One of the most popular events at the Calhoun branch is our annual 4th of July celebration. It’s a great opportunity for community members to stop by the branch and meet the staff, and also enjoy a delicious hot dog lunch and homemade apple pie.
The LGE staff invites you to stop by our Calhoun branch and learn how LGE can help you achieve your financial well-being. Our friendly staff would be happy to answer any questions you may have or give you more information about our products and services. The Calhoun branch is located at 512 West Belmont Road. Lobby hours: Monday – Thursday 9 a.m. – 4:30 p.m., Friday 9 a.m. – 5 p.m., and Saturday 9 a.m. – 1 p.m. Drive-Up hours: Monday – Thursday 7:30 a.m. – 5 p.m., Friday 7:30 a.m. – 6 p.m., and Saturday 9 a.m. – 1 p.m.
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