Lorillard Federal Credit Union was established in October 1965 by ten Lorillard Tobacco Company employees.
The credit union had $30.00 in assets and 10 members. As of January 2013, (48 years later) the credit union
has grown to $34 million in assets and 4,600 members. Financial strength and stability have been the focus of
the credit union management. Capital of roughly 12% has been steadily maintained and the delinquency has
been maintained well below the industry average.
Lorillard Tobacco Company employees and family members comprise approximately 85% of the credit union's
membership. Most employees conduct business with the credit union by payroll deduction. The remaining
15% is made up of the following companies: Snider Tire, Mother Murphy's, Automotive Fasteners, Store Office
Environment, Allied Interstate, Applied Materials Handling, Carolina Laser Cutting, Crescent Wholesale
Felts, Community Innovations, North State Flexibles, North State Communications, Buck's Communications,
Specialized Packaging Flexo, Just For You Catering, Data Chambers.
The credit union has expanded its locations to include: our head quarter's which is located at
2917 South Elm-Eugene St., Greensboro, NC; a full-service facility located within the Lorillard Plant;
and 100 North Elm Street, High Point, NC. In addition to these offices, the credit union is a member of
a national branch network called the Credit Union Service Centers (CUSC.) Members can use CUSC branches
throughout the United States for financial services. To find the Credit Union Service Center closest to you visit www.cuservicecenter.net.
The credit union's mission statement is as follows:
Lorillard Federal Credit Union's operational objective is to maintain a financially secure organization
that offers products/services that satisfy the financial needs of the membership on a convenient and
timely basis. Employees and volunteers will stay abreast of all developments within the credit union
movement and training will be an ongoing expectation. All credit union policies will reflect fair,
unprejudiced and equitable rules/regulations for credit union staff, volunteers and members. Employees
and volunteers shall be dedicated to developing a cooperative, helpful and friendly work environment
where employees feel valued and nurtured while members feel welcomed and appreciated.
Once a Member, Always A Member Retiring?
Changing your employment? You do not have to close your LFCU accounts. You can remain a member and
still be entitled to all of the services by keeping your accounts open with the credit union. Membership
in your credit union can remain a valuable resource for your financial needs.
|List of Board of Directors as of April, 2013|
||Amanda Tucker (Chair)|
Interested in joining as a member or as a company? Contact us today at 336-272-5244 and we will be more than happy to discuss membership qualifications and benefits!