Welcome to the Logix SmartLab

Logix Employees Give at our 9/11 Remembrance Blood Drive

Posted by Kay K on 9/11/2017

Every year, in remembrance of the victims of September 11, an American Red Cross team visits Logix Headquarters.  In a matter of moments, they combine two conference rooms into one bustling blood drive site.  With tons of energy, upbeat music playing, friendly chatter, and the smell of freshly baked treats, Logix employees ready themselves for their blood donation appointments.

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Topics: Credit Unions, Great Place to Work, Community

A Pure Imagination Toy Drive

Posted by Admin on 8/18/2017

We just had a toy drive and it was extraordinary.

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Topics: Credit Unions, Community, Community Stars

Logix Employees Give $120,000!

Posted by Admin on 6/29/2017

In case you missed it, last week was an exciting time for us and the four local charities we support!  We proudly presented $30,000 checks to Penny Lane Centers, Burbank Temporary Aid Center, For The Troops, and Circle of Hope, Inc.

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Topics: Credit Unions

What is "Smarter Banking" Anyway?

Posted by Brad Blue on 8/24/2016



We should clarify a bit of confusion about our tagline, "smarter banking." We aren’t a bank. We never have been a bank, and we never will be a bank. You see “smarter banking” in our tagline, because, quite simply, that’s what we offer.

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Topics: Insider, Consumerism, Credit Unions, Your Financial Life, Thoughts on Money, Gen Y

Crowdsource your GPS. Crowdsource your banking.

Posted by Brad Blue on 7/22/2016

 
Look for this graphic on the Waze® GPS app to visit your local Logix FCU branch.
 
 
ALERT: Smarter banking found on road ahead.
 
Why do so many people love the Waze® GPS app? It's all about the philosophy of people helping people. Without user participation, Waze would be just like any other GPS app, but with its users, it becomes much more powerful.
 
You have been thanked 0 times by your big bank.
 
The same philosophy of "people helping people" that makes Waze so much better than its competitors is what makes credit unions like Logix superior, too. Without member ownership and participation, we'd be like any old bank. With our members, c redit unions become more useful than our competitors. Just like Waze serves as an efficient way for drivers with information to supply it to drivers who need information, the credit union is a way for depositing members to supply money to members who need loans.

Recalculating alternate rate. Possible savings discovered. Reroute now?

When members help each other, they take out a great big expense they'd incur by using a traditional bank. Most financial institutions have to make a profit to send to their owners, so they price everything to make sure they come out ahead. Credit unions like Logix are owned by their members and not-for-profit. In fact, even our Board of Directors are members who volunteer their time to serve! There's not much point in charging extra when the people who would benefit from overcharging are the same people being overcharged. Instead, credit unions price things like rates and fees to ensure the continuing viability of the credit union with the financial health of the membership driving each decision. 

Watch out! Objects found in wallet ahead. Refi now as low as 1.74% APR 


The result? Our auto loan rates are now as low as 1.74% APR!* It's tough for the competition to match that kind of rate and still make a profit for their owners.

ALERT: Heavy traffic reported leaving your big bank for Logix. Divert now?


We're excited to welcome you to the Logix family! Oh, and. by the way...


Thank you for sharing this alert!

 

*APR = Annual Percentage Rate. "As low as" auto rates are our best rates for up to 125% financing on approved credit and includes a 1% discount for Automatic Payment (AutoPay). Rates subject to increase if AutoPay is discontinued. Actual interest rate offered may be higher depending on applicant's credit rating and other underwriting factors. In some instances Logix may require borrowers to purchase Guaranteed Auto Protection on new and used auto loans. Maximum 17.99% APR. Monthly payments at 1.74% APR over a 48 month term are estimated at $21.59 per $1,000. Rates accurate as of 7/22/14 and are subject to change.

 

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Topics: Consumerism, Credit Unions, Your Financial Life, Thoughts on Money, Auto Loans, Vehicle Loans

How much does our Board of Directors make? Here's a hint:

Posted by Admin on 4/11/2016

 

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Topics: Video Blog, Credit Unions

Logix Announces $5M Loyalty Dividend

Posted by Admin on 2/23/2016

Today, Logix will return $5 million to the people who helped us earn it.

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Topics: Insider, Credit Unions, Dividend

A Letter from our CEO: Tapping the Brakes to Avoid Excessive Growth

Posted by Logix CEO, Dave Styler on 1/31/2016


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.

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Topics: Insider, Credit Unions, Inner Circle

A Brief History of Credit Unions

Posted by NerdWallet on 12/18/2015

 

Although chances are good that you’ve stepped foot inside a credit union or two, you may not know a whole lot about them. Credit unions — which are nonprofit, member-owned financial institutions that typically offer better interest rates and fewer fees than national banks — have a rich and complex history.

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Topics: Credit Unions

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Feel free to peruse about. Here you’ll find stories, posts and tools aimed to assist you as you’re faced with daily to once-in-a-lifetime financial quandaries. This is your SmartLab (lab coat optional). We want you to get the most from our articles, and we welcome your ideas to help us continue to bring valuable content to you. Check out the comment section at the bottom of every post for easy ways to share feedback. We’re learning, too, and what better way to encourage smarter banking than to share tips and resources with each other? Not to mention, it’s a great chance for us to get to know each other!

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