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
We have been with Logix long before it was Logix. We do all our banking with them. Including HELOC, Mortgage, Savings, Checking, and credit card.
I love the fact that anytime I call there is always a live person answering my calls. Everyone is very courteous and pleasant to talk to.
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 :)
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||1.21%|
|Return on Equity - YTD||8.41%|
|Annual Interest Income||$176.1MM|
|Assets and Liabilities|
|Assets||Q3 2020vs Q3 2019||$7.59B$6.16B|
|Loans||Q3 2020vs Q3 2019||$5.28B$5.50B|
|Deposits||Q3 2020vs Q3 2019||$6.18B$4.96B|
|Equity Capital||Q3 2020vs Q3 2019||$1.06B$962.0MM|
|Loan Loss Allowance||Q3 2020vs Q3 2019||$70.5MM$65.6MM|
|Unbacked Noncurrent Loans||Q3 2020vs Q3 2019||$24.4MM$24.7MM|
|Real Estate Owned||Q3 2020vs Q3 2019||$0$0|
Rates for Logix Federal Credit Union are currently being reviewed.