Logix Federal Credit Union


Overview / Commentary
818-565-2020
2340 N Hollywood Way
Burbank, CA 91505-1124

Headquartered in Burbank, California, Logix Federal Credit Union (formerly Lockheed Aircraft Employees Federal Credit Union) was founded in 1937 with just twelve charter members. Today, the member-owned credit union serves over 100,000 members at over 10 branch locations in Southern California – as well as through online banking options available to the residents of several other states. Logix FCU prides itself on high ratings for customer service.

Logix FCU provides a range of personal depository banking products, including checking accounts, savings accounts, money market accounts, Certificates of Deposit (CDs), and Individual Retirement Accounts (IRAs). All of Logix’s checking accounts feature convenient online and mobile banking, including mobile check deposits and bill payment options. Premium checking options require certain minimum balances.

Logix’s money market accounts offer higher APYs for higher balances and are federally insured up to $250,000. Its CD terms range from 91 days to 60 months, and the 12-month bump rate CD includes a one-time rate bump up at the time of this writing. Finally, Logix offers Traditional and Roth IRA products, as well as Coverdell Education Savings Accounts (CESA), with interest rates that match its money market accounts.

Logix FCU does not offer business depository banking products. However, it does provide commercial real estate and small business administration (SBA) loans.

Field of Membership Restrictions

Logix Federal Credit Union is open to residents of Arizona, California, the District of Columbia, Massachusetts, Maryland, Maine, New Hampshire, Nevada, and Virginia. (membership requirements are listed in the credit union's online application)
See current membership details

Related Posts

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Great Institution!

Posted by: swm | Nov 5, 2011

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

Chexsystems Inquiries

My initial application for membership was declined because of the number of ChexSystems inquiries (not negative information, just the number of inquiries). I was able to join after appealing the decision, and the credit union has some unique products: it's one of the few that offers mortgages on investment properties instead of primary residences.

Sloppy, Lost All Account Materials

Posted by: planxy | May 26, 2013

Customer service assured me could open roll-over of IRA from another place into Roth IRA. Sent application in with  signatures and lotsa documentation. Was assured that it had been received.  Months later nobody there has any idea of ever receiving or processing same. Maybe you need a branch nearby to use. Moved on, Roth IRA now with stockbrokerage.

Beware Of Newly Imposed Low Balance Fees

After carrying a six- figure Logix credit card balance and paying them close to $100 monthly interest and always making on- time payments for several years, I finally was able to pay off my card. Within a week, I received a letter informing me that a $5 per month low-balance maintenance fee would now be assessed unless I either boosted my credit card debt, or keep $1,000 on deposit. I belong to five other credit unions and have never seen this kind of BofA.-style nickel and diming , money squeezing B.S at any credit union. Wrote a much more polite, complaint letter to [email protected] (Chief Op Ofc) and [email protected] (CFO) and neither responded. I closed my account yesterday. You can do much better elsewhere. Try NASA credit union, which is open to the public if you buy a one time association membership of around $20 if I recall the amount correctly, or try PenFed. Say goodbye to Hollywood.

VIEW MORE REVIEWS

Health
A+

Health Grade Components

Overall
NCUA #1999
Year Chartered1937
Employees692
Primary Regulator
Profit Margin
Return on Assets - YTD0.99%
Return on Equity - YTD6.48%
Annual Interest Income$58.9MM
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$6.07B$5.55B
LoansQ1 2019vs Q1 2018$5.44B$4.97B
DepositsQ1 2019vs Q1 2018$4.75B$4.26B
Equity CapitalQ1 2019vs Q1 2018$922.9MM$850.2MM
Loan Loss AllowanceQ1 2019vs Q1 2018$62.2MM$57.8MM
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$20.5MM$16.5MM
Real Estate OwnedQ1 2019vs Q1 2018$0$0
Rates

Rates for Logix Federal Credit Union are currently being reviewed.

Locations

Availability



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