Are Credit Unions Safer than Banks?

In the realm of personal finance, making informed decisions is paramount. One question that often arises is, "Are Credit Unions Safer than Banks?

If you’re looking for a short answer, you’ll be happy to know that we’re not making you read the whole post: Credit Unions and banks are roughly identical in safety because deposits at both are insured by the Federal government to $250,000. Read more here about how to increase your insured deposits at Logix beyond $250,000. 

Longer answer: Well… maybe just a little bit safer. You should read more about that below. But there are 1,000 other reasons why credit unions are a better home for your financial relationships than banks. With safety being essentially the same, consider that your deposit, or even your checking account balance at a credit union goes directly to helping people in your community get a loan or other banking services instead of lining the pockets of a bank owner.

Let's delve into this topic, focusing on what makes credit unions a unique and secure option.   

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Why Your Logix Card Belongs in Your Digital Wallet

Picture this: you're cozily nestled on your couch, mobile device in hand, doing some online shopping. You've stumbled upon that must-have item, effortlessly added it to your cart with just a couple of taps, and entered your shipping info in a breeze. You're on the brink of retail euphoria when you reach the payment section, only to be met with the dreaded card number, expiration date, and CVV fields. But, wait for it... your card is nowhere to be found! It's chilling out in your wallet, which might as well be in Narnia for all the effort it takes to retrieve it. Your couch cocoon feels too comfortable to leave, and you half-jokingly contemplate calling out, "Alexa, fetch my card!" Alas, reality strikes, and you're faced with the daunting prospect of getting up and finding your card. The struggle is real.

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Enable Card Notifications in the Logix Mobile Banking App

In the ever-evolving world of digital banking, the Logix Mobile Banking App continues to stand out with its array of features. Among these is the much-needed Card Notifications feature, which provides a seamless way to stay updated on your debit and credit card activity, ensuring you never miss a beat. 

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Preventing Card Fraud: Freeze/Unfreeze Your Card in the Mobile App

Year after year, reports of debit and credit card fraud and associated financial losses continue to rise. As scammers become more skilled and sophisticated with their schemes, individuals need to enhance their digital security. So, how do you stay ahead of the game, you ask? Well, with the right knowledge and tools, of course. One powerful weapon is the ability to freeze or unfreeze your card using the Logix Mobile Banking app.

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Deposit Checks On the Go

With the advancements in technology, mobile banking apps offer simple and time-saving solutions for various services, including depositing checks on the go. Whether you're at home or in the office, the Logix Mobile Banking app* provides the power of banking right at your fingertips. Gone are the days of making trips to your local branch or waiting in line for a check deposit!

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