Logix SmartLab Blog

Does a Checking Account Earn Interest?

Maria Espinosa / February 23, 2024

A traditional checking account is often seen as a staple in day-to-day personal finance, facilitating debit card purchases, ATM withdrawals, and direct deposits. Yet, many account holders may not realize that certain types of checking accounts, specifically interest-bearing checking accounts, offer the potential to earn interest (or dividends) on the account balance. Financial institutions, including banks and credit unions, provide various financial products, with some designed to accrue earnings over time.

Logix Selected as Business of the Year by the SCV Chamber

Logix / February 16, 2024

On February 2, Logix Federal Credit Union was recognized as Business of the Year by the Santa Clarita Valley Chamber of Commerce. More than 300 guests celebrated at the Hyatt Regency Valencia. Other honorees include Terrell Edwards Top Entertainment, the SCV Hub Virtual Food Hall, Assistance League Santa Clarita, Captain Justin Diez and Marlee Lauffer.

Tech Support Scams

Sherlogix Holmes / February 6, 2024

Tech support fraud occurs when the subject claims to be associated with a computer software or security company, or even a cable or Internet company, offering technical support to the victim. Phony tech support companies utilize several different methods to contact or lure their victims. This list is not all inclusive, as the subjects are always varying their schemes.

Planning for Long Term Care

Logix / February 1, 2024

Why is it important to plan for long-term care? The odds of needing long-term care are high: For many, the cost of long-term care can be expensive, absorbing income and depleting savings. Some of the average costs in the United States for long-term care include:

How to Order Checks: A Step-by-Step Guide

Maria Espinosa / January 26, 2024

The traditional checkbook still holds its unique place in managing finances. Whether it's paying for rent, settling a personal debt, or handling transactions that require a paper trail, checks are indispensable. Did you know that you can seamlessly reorder your checks through Online Banking or via the Logix Mobile Banking App? Follow these steps to get started.

A Letter From Our CEO

Ana Fonseca / January 23, 2024

Discover the highlights from the past year and what's ahead in 2024 from our CEO, Ana Fonseca.

Benefits of Checking Accounts

Kevin Rishko / January 16, 2024

The world is moving away from handwritten checks, yet having a checking account is more important than ever because of the many ways it allows you to access your money the moment you need it. This guide will explore the numerous benefits of checking accounts, tailored specifically for those exploring their banking options. By the end, you'll have a comprehensive understanding of why a checking account is a crucial tool for managing your money.

Easy Money or Money Mule?

Sherlogix Holmes / January 4, 2024

A money mule acts as a layer of distance between a scammer and their victims by handling stolen funds on behalf of someone else, either knowingly or unknowingly. Money mules make a scam harder to trace and the money even harder to find. Beware of offers that promise quick cash or a commission in exchange for receiving money and then sending it to someone else. This may take the form of a fake job opportunity, investment scheme, or prize award.

Logix Donates $60,000 to Local Charities With Paying With a Purpose Campaign

Logix / December 29, 2023

Logix Federal Credit Union announced today the conclusion of its latest Paying with a Purpose: Curtain Up for Kindness Campaign, having raised $60,000 to benefit six local nonprofits. Logix is celebrating the impact of performing arts in our communities and donated $10,000 to the New West Symphony, Simi Valley Cultural Arts Foundation, Garry Marshall Theatre, Olive Branch Theatricals, San Fernando Valley Youth Chorus, and The Unusual Suspects this week.

The NCUA vs FDIC: Know Your Deposit Insurance Options

Kevin Rishko / December 22, 2023

For those navigating the financial landscape in the United States, the assurance of deposit safety stands as a cornerstone of financial security. This critical assurance is largely provided by two key federal entities: the National Credit Union Administration (NCUA) and the Federal Deposit Insurance Corporation (FDIC). These entities play a pivotal role in ensuring the safety of depositors' funds, but they cater to different sectors within the financial ecosystem. Before we delve into the specifics of NCUA and FDIC insurance, let's address the primary question: What sets these two organizations apart in the realm of deposit insurance and how do they relate to broader financial concepts and practices? Understanding this distinction is not just about recognizing the difference in coverage. It's about appreciating how each contributes to the stability and resilience of the financial landscape, ensuring that depositors can confidently engage with their chosen financial institutions, whether they are banks or credit unions.

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