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What is "Smarter Banking" Anyway?

Posted by Brad Blue on 8/24/2016

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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.

When Thomas Edison invented the light bulb, he called it the “new type Edison lamp.” He didn't see it as a new thing, just an improvement on the lamp.

Likewise, when Diamler invented the modern car, he called it a “motorized carriage.”

Even movies were called “motion pictures” when they were created in the late 19th century.

These ideas, revolutionary as they were, were only improvements on every-day items like carriages, oil lamps, and pictures. And while we didn’t invent banking, we believe the idea of cooperative banking is so much… smarter… than traditional banking, we put it in the tagline.

Here are a few tangible differences between traditional banking and Logix. You can call them whatever you want, but we call them smarter:

1: We are a not-for-profit cooperative. This means we will never take the profit we make from operating and send it to people who don’t use the credit union. Whenever we are running profitably (which has been every single year since our inception in 1937) we are obligated to use that money for the good of our membership.

2: We actually have lower loan rates, lower fees and higher deposit rates. But don't take our word for it. Here's a rate comparison chart.

3: We are awesome. Using the industry-standard method of calculation (Net Promoter Score) we are in the 100th percentile in satisfaction. 9.6 out of 10 members say they would recommend us to a friend. 

We call ourselves Logix, Smarter Banking because that’s what we are – a more logical choice for your banking, and an improvement upon the status quo. 

If you still aren’t convinced – just don’t bank here. Hey, some people out there are still riding in their horse carriages by the light of an oil lamp, too. But if you’re ready for something new, here’s how to open an account.

Topics: Insider, Consumerism, Credit Unions

Meet the blogger

Brad Blue

Brad Blue

No matter what Brad were to say about himself in this bio, it would be easy to find the truth about him with a simple google search. This applies to business as well, and the new business rules created by such transparency are what make Brad look forward to each day spent working in online Marketing at Logix! If you really were thinking about running a search, you’d mostly find lots of stuff about the CSU Rams, some truly awful puns, and many gushing posts about his wife and new daughter.

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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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