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.
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
I joined Logix back when they were Lockheed Federal Credit Union here in Palmdale, CA. I have been with them ever since for all banking products, including car loans, personal loans and credit cards. When our daughter moved to CO I was concerned about access and convenience but their customer service, even remotely from CA, remains excellent and she would not dream of leaving "her" credit union. Both our children have their own Logix accounts and plan to keep them wherever they end up in life :)
Over the past 60 some years i have done business and had accounts with every Bank that has done business in California and they all pale in comparison with LOGIX. Remarkably it seems every employee in every department knows exactly what they are doing at all times and everyone is committed to prompt and enlightened customer service ! This is an amazing organization !!! If you are not on board you are missing out.
Having been with a competing well respected credit union for over 15 years, I am thrilled I moved my money to Logix. The highest yields on liquid savings of any brick and mortar bank near me. They are a rock solid financial institution. They were solid during the 2008 financial meltdown. I checked them out thoroughly for stability, security and longevity.
Convenient, safe and great service. A brick and mortar business is reassuring place to keep my hard earned dollars. Nice to have a real location with people I know that will talk to me if I have a problem. Web banks may give you a slightly higher rate, but Logix has a long track record I can count on and a real location not just a web address.
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.
|Return on Assets - YTD||0.91%|
|Return on Equity - YTD||6.34%|
|Annual Interest Income||$119.8MM|
|Assets and Liabilities|
|Assets||Q2 2020vs Q2 2019||$7.19B$6.14B|
|Loans||Q2 2020vs Q2 2019||$5.48B$5.50B|
|Deposits||Q2 2020vs Q2 2019||$5.83B$4.82B|
|Equity Capital||Q2 2020vs Q2 2019||$1.02B$942.2MM|
|Loan Loss Allowance||Q2 2020vs Q2 2019||$68.9MM$63.5MM|
|Unbacked Noncurrent Loans||Q2 2020vs Q2 2019||$22.3MM$25.1MM|
|Real Estate Owned||Q2 2020vs Q2 2019||$0$0|
Rates for Logix Federal Credit Union are currently being reviewed.