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5 star rating based on 1 review.

Logix Federal Credit Union

Logix Federal Credit Union Locations
2340 Hollywood Way
Burbank, CA 91510
(800) 328-5328
www.logixbanking.com

NCUA

Logix Federal Credit Union is headquartered in Burbank and is the 7th largest credit union in the state of California. It is also the 33rd largest credit union in the nation. It was established in 1937 and as of December of 2012, it had grown to 417 employees and 114,404 members. Logix Federal Credit Union has a 5-star health rating.

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2007



We are currently reviewing the rates for Logix Federal Credit Union for accuracy. Please check back in a few hours.

Data for Q4 2012


Institution Statistics


LOGIX
NCUA #1999
BankRate ReportView
Year Chartered1937
Employees417
Primary Regulator

Assets and Liabilities

Assets$3.49 billion
Loans$2.40 billion
Deposits$2.87 billion
Equity Capital$558.13 million
Loan Loss Allowance$68.39 million
Unbacked Noncurrent Loans$26.43 million
Real Estate Owned$3.15 million

Historic Data - December 2011

Assets$3.20 billion
Equity Capital$509.32 million
Loan Loss Allowance$67.44 million
Unbacked Noncurrent Loans$57.60 million
Real Estate Owned$10.33 million

Profit Margin - Quarterly

Net Interest Margin3.9%
Return on Assets1.27%
Return on Equity7.92%
Interest Income$128.52 million
Non-Interest Income$29.84 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio5
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2012 Logix Federal Credit Union had $29.59 million in non-current loans and owned real-estate with $626.52 million in equity and loan loss allowances on hand to cover it. This gives Logix Federal Credit Union a Texas Ratio of 4.72% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend5
The Texas Ratio for Logix Federal Credit Union decreased significantly from 11.78% as of December 31, 2011 to 4.72% as of December 31, 2012, resulting in a positive change of 59.90%.This indicates that the balance sheet and financial strength for Logix Federal Credit Union has improved significantly in recent periods.
Deposit Growth5
In the past year, Logix Federal Credit Union has increased its total deposits by $222.45 million, resulting in 8.39% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Logix Federal Credit Union has shown is excellent.
Capitalization5
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Logix Federal Credit Union has $3.49 billion in assets with $626.52 million in equity, resulting in a capitalization level of 17.93%, which is excellent.
Write Review

Great Institution!
5 stars - swm - Saturday, November 5, 2011 - 8:11 AM

I've moved much of my money to Lockheed!  No regrets

4
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$150 Checking Account Bonus
OfferCheckingCash		View Promo Details »
Leave a Comment (13) »
Logix - October 16, 2012
Thanks for posting about us, and thanks especially for including the details about the name change. Great research! Happy to send you our new logo if you ever have use for it. bblue@logixbanking.com

Anonymous - October 16, 2012
Can anyone open a account at this bank? Do I have to become a member if so how?

Anonymous - October 17, 2012
Just spoke with CSR.  Anyone can join, but they do hard pull.

Anonymous - October 17, 2012
My wife and I just joined.  Very friendily CSR.  Completed in less than one hour that included getting document emailed to us for E-signature.  Look forward to do more banking with Logix.

Anonymous - October 17, 2012
So anyone can join without having to join the america council? I cannot seem to find the membership requirement on their page. 

Logix - October 18, 2012
Thank you once again for this post!

As an update, this promotion is available to new members who open an acocunt in a full-service Logix branch.

To answer some of the questions from above, membership is available to members of the American Consumer Council as well as to employees of a variety of seg groups and family members of current members.

Anonymous - October 18, 2012
Thanks to the OP, I've joined the ACC with no problem, and the webpage said there would be no cost to join ACC. I live in IL and work for a university.

Anonymous - October 19, 2012
@Logix: So, the promotion is not available to those who open online?

Logix - October 19, 2012
"@Logix: So, the promotion is not available to those who open online?"

 

That is correct. This promotion is only valid for checking accounts opened in a Logix branch. We're sorry for any inconvenience.

Anonymous - October 25, 2012
@Logix: I'm not sure if you are correct, because I opened the checking account online and already received the $100 of $150 bonus.All I need to do now is to pay 3 times on line to get another $50.



  10/23/2012 Deposit CHK BNTY DIR BNS     None     $50.00      
  10/23/2012 Deposit CHK BNTY DEP BNS     None     $50.00      
                   


Anonymous - October 31, 2012
It seems the checking bonus page in Logix website is gone.

Anonymous - November 15, 2012
I opened my account online on 11/7/12 using promo code '50' and had $100 bonus sitting in my account the next day!

 



Anonymous - May 8, 2013
I entered the promo code, as well as made a $250 direct deposit and a $250 initial deposit this past March. However, I didn't receive any rewards. Probably because I opened the account online instead of at a branch. :/

  11/8/2012!-- 7 days ago -- Deposit CHK BNTY DIR BNS       None   $50.00   $350.00  
  11/8/2012!-- 7 days ago -- Deposit CHK BNTY DEP BNS       None   $50.00   $300.00
 
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