Lockheed Aircraft Employees Federal Credit Union was officially chartered January 21, 1937. Several weeks ago, with that milestone anniversary rapidly approaching, I took a few minutes to again read the original charter application, signed by the 12 Lockheed employees who founded our institution.
Our CEO’s column in our employee newsletter, Logix Out Loud, is always an enjoyable read. Usually it is filled with big happenings at Logix, ideas for providing great service, or insights about how the credit union is doing. This month, Dave used his column to tell our staff about one of his favorite books, “The Richest man in Babylon.” The financial advice in the book is timeless, and certainly worth sharing with our members. Here’s Dave’s post to our staff:
Topics: money management, Mortgage, Saving, Financial Planning, Consumerism, Buying a Home, Credit Cards, saving money, Student Loans, Investing, Compound Interest, Your Financial Life, Thoughts on Money
I’ve never been good at predicting election outcomes, although I did correctly call Ronald Reagan’s 1980 victory over Jimmy Carter (not particularly impressive, as virtually everyone except Carter knew Reagan would win in a landslide). I also know from experience that it’s a bad idea to use a company communication forum to discuss political issues, let alone to predict the outcome of hotly contested elections.
Logix Federal Credit Union again experienced an exceptional year in 2015.
For the fifth year in a row, a record number of members joined Logix, taking advantage of our low auto and mortgage loan rates to help generate the highest loan volume in our history. Thousands of members deepened their savings relationships and opened checking accounts. We launched a new Porter Ranch branch, and again in 2015, over 96% of members indicated they would recommend us to others.
Based on our industry-leading net worth position, our Board of Directors authorized a total of $5.2 million in Loyalty Dividend payments to qualifying members.
This dividend was deposited into qualifying members’ savings accounts on February 24, 2016.
We hope this dividend demonstrates the unique advantage of membership in Logix (we share our success with those who make it possible), and serves as a reminder of our commitment to you, our loyal members.
For more information about your Loyalty Dividend, please take a moment to read the Q&A here. You may also give us a call at (800) 328-5328 (6 a.m. to 8 p.m. M-F, 8 a.m. to 5 p.m. Saturdays) or contact me directly at email@example.com.
We are pleased to share our success with loyal members like you. Thanks again for your membership.
President & CEO
Want to let us know how you feel about the dividend? Please join the conversation on social media using the hashtag #LogixDividend!
When I arrived at LFCU in 1989 as CFO, the Credit Union had roughly 100,000 members. When I left briefly in 1993, LFCU had roughly 100,000 members; and when I returned to LFCU in 2001 as CEO, we still had roughly 100,000 members. In fact, from the late 1980s until 2010, the credit union’s total member population remained relatively constant, at about 100,000.