$150 Checking Account Bonus at Logix FCU - Easy Membership

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This credit union name may be new to you. It's the new name for Lockheed Federal Credit Union. On July 9th the name changed to Logix Federal Credit Union. It's now offering a nice checking account promotion in which you can earn up to $150. Details of the offer are listed in this Logix checking bonus page. To qualify for the full $150 requires the following:

  • $50 when you open a Checking Account with a $250 initial deposit or more
  • $50 when you sign up for monthly direct deposit of $250 or more
  • $50 when you make three or more electronic payments of $50 or more (per payment) through Web BillPay

Some additional important details from the small print are listed below:

Direct Deposit and Bill Pay activity must occur within your first 60 days after Checking Account open date to earn bonus. Bonus will be deposited to your checking account within 30 days of required activity. Bonus amounts are taxable. Limit one per household. Current Logix checking accounts are excluded from this offer.

Update 8/19/2014: New accounts must be opened in person at a Logix FCU branch location to take advantage of this offer.

There are potential monthly fees with the 3 checking accounts that are available. You can compare them in this checking page. The Advantage Checking seems to be the best one since you can have the monthly fee waived with e-statements. The credit union is partnered with the CO-OP ATM Network which gives members access to free ATMs throughout the nation.

Membership and Application

Update 8/19/2014: American Consumer Council can no longer be used to join the credit union. According to the first page of the online application, membership is open only to those who live in one of the following states: AZ, CA, DC, MA, MD, ME, NH, NV, or VA. Exceptions can be made if you're a family member of a credit union member.

Credit Union Overview

This Credit Union Times article provides some background on the name change:

The new brand, rolled out in a series of emails to members, should help the Burbank, Calif., credit union eliminate ongoing confusion over membership eligibility, a problem that has long plagued the credit union, explained David Styler, president/CEO.

The credit union started to separate from Lockheed Martin Corp. in 1996 when it became a separate entity. It continues to serve Lockheed's employees, but as the name and the expanded field of membership show, it's trying hard to expand membership beyond the company.

Credit union branches are located in several areas of Southern California including the cities of Burbank, Pasadena, Woodland Hills and Santa Clarita. Logix is also part of the CU Service Centers.

Logix is a large credit union with $3.36 billion in assets and 406 employees. The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas ratio of 6.95% (excellent) based on June 2012 data. Please refer to our financial overview of Logix FCU for more details. The credit union is federally insured by the NCUA (Charter # 1999).

Other Credit Union and Bank Bonuses

We have a bank promotions page with a table of all of the active bank and credit union promotions. You can filter the table based on the type of promotion and based on your state. I have more details about how to use this page in this blog post.

You can view my latest bank bonus blog posts in this bank bonus page. I and DepositAccounts.com readers often post on bonuses in the checking account deals forum.

Edit 10/18/2012: Added more details about membership.

Comments
Logix
Logix   |     |   Comment #1
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
Anonymous   |     |   Comment #2
Can anyone open a account at this bank? Do I have to become a member if so how?
Anonymous
Anonymous   |     |   Comment #3
Just spoke with CSR.  Anyone can join, but they do hard pull.
Anonymous
Anonymous   |     |   Comment #4
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
Anonymous   |     |   Comment #5
So anyone can join without having to join the america council? I cannot seem to find the membership requirement on their page. 
Logix
Logix   |     |   Comment #6
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
Anonymous   |     |   Comment #7
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
Anonymous   |     |   Comment #8
@Logix: So, the promotion is not available to those who open online?
Logix
Logix   |     |   Comment #9
"@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
Anonymous   |     |   Comment #10
@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
Anonymous   |     |   Comment #11
It seems the checking bonus page in Logix website is gone.
Anonymous
Anonymous   |     |   Comment #12
I opened my account online on 11/7/12 using promo code '50' and had $100 bonus sitting in my account the next day!

 

  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
Anonymous
Anonymous   |     |   Comment #13
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. :/
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