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, Massachusetts, Maryland, Maine, New Hampshire, Nevada, and Virginia.
See current membership details
Related Posts
8/28 - Logix MM Dropped To 0.80% $100K Minimum To $249,999
10/4/16 - 2.10% 5Yr C/D 180Day --- Calif
10/16/12 - $150 Checking Account Bonus at Logix FCU - Easy Membership
9/8/11 - $150 Checking Account Promotion at Lockheed FCU in CA & NH - Local Only
7/23/10 - 10% 6-Month CD Special ($2,500 Max) at Lockheed FCU (SoCal Only)
4/25/09 - $150 Checking Account Bonus at Lockheed FCU - Branch Visit in CA or NH Required
2/12/07 - Update on the 6% Money Market Account at Lockheed FCU
1/4/07 - 6.00% Money Market Account - $10K Max (Lockheed FCU)
Best Credit Union And/Or Bank
I have been with them over 20 years. The are efficient and professional, I was hacked and they rescued me.
I am new to mobile banking but found with their help, I was easily able to master it.
Excellent Rates, Service, And Products
Logix has been my best banking or even credit union experience by far. I have had good experiences with both a mortgage and car loan as well as accounts in general and have quite enjoyed the occasional share dividend (separate from interest on accounts). The recent no-nonsense 1.99% automatic loan for anything (I used it for consolidation--including a Logix account, no restriction nor additional percentage/transfer) was great too.
Sometimes wish the website/phone app was slightly snappier or there were a couple more branches (North Hollywood to Sherman Oaks area would be great) but also appreciate they're not like First Entertainment blowing through all their money to pop up and advertise everywhere while providing mediocre rates and service.
Logix Credit Cards
I paid off my entire balance in August, then in October I was called and informed that i owed them 430 dollars. When I inquired as to what it was for, I was given the explanation that it is for interest from the prior billing cycle. I was confused and asked when the interest was accrued. "From May until you paid it off. Then the late fees, and the interest from that balance." I was not notified of any of this until October 20th. After giving me the run around, and after I asked too many questions, they said they were just talking in circles and were going to disconnect. Extremely unethical in how they conduct business. They make it difficult to arrange auto-payments, which of course leads to late payments and those tasty late fees. I regret doing business with them.
If you know any loan sharks, or have mob connections, use them first. I'll be posting this everywhere.
20 Years No Problems
They called when I started using a VPN to see if it was really me. Most people wouldn't know what a VPN was. Top notch tech support.
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 1999 |
| Year Chartered | 1937 |
| Employees | 820 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.72% |
| Return on Equity - YTD | 5.95% |
| Annual Interest Income | $214.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $9.82B$9.85B |
| Loans | Q2 2024vs Q2 2023 | $7.69B$7.8B |
| Deposits | Q2 2024vs Q2 2023 | $7.59B$7.42B |
| Equity Capital | Q2 2024vs Q2 2023 | $1.19B$1.09B |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $78.5MM$79.3MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $37.3MM$23.5MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $283K$0 |
