The Local Government Investment Pool (LGIP) is an investment pool with the primary purpose of providing a safe liquid vehicle for investing idle funds and to obtain the best interest rate available at the time of investment.
The LGIP puts an investment manager to work for you, analyzing current market conditions and comparing different investments. All funds are combined together for greater purchasing power; this means greater earning potential for all pool members. Local agencies have the best of both worlds: overnight availability and improved earnings.
The LGIP also serves as a source of information for local government agencies on investment types, market conditions, and risk evaluation. Local agencies are always welcome to contact the LGIP office with questions at any time.
* An investment in the LGIP is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. Although the LGIP seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the LGIP.
Forms & Links
- eBank Web Site - Access your LGIP account online to make ACH and Interpool transactions.
- Who is eligible to participate?
- Participation is open to all state agencies and to all political subdivisions including: Cities, Towns, Counties, Public Retirement Systems, Regional School Districts, Local Public Agencies, Public Health Districts, Irrigation and Soil Conservation Districts and Water and Sewer Districts.
- What is the cost to participate?
- The Administrator of the Pool shall charge a service fee; the fee is the cost to operate the Pool for the month. The past year, the monthly fee has averaged 0.0029% of the total pool balance.
- What is the application process?
- Complete the new application listed under “Forms” on this page. This form must be signed by a board member, other than the Contact Person listed on the form, and accompanied by a Board Membership Roster of your agency.