Logix SmartLab Blog

The Best of the Best – Why Logix is (Objectively) Smarter Banking

Logix / January 6, 2023

We're grateful to Callahan and Associates for providing such concrete evidence of our service and value commitment to you, our members.

Protecting Yourself From Holiday Identity Theft

Logix / December 23, 2022

The holiday season is a time when people are more vulnerable to identity theft scams. Not only are people making more purchases than any other time of year, but they are often distracted when doing so. During the holiday season, stores and shopping malls are bustling with people – especially at peak shopping times during evenings and weekends. When shoppers are focused on their gift lists, looking for bargains, or tending to the kids, attention might not be on security.

Required Minimum Distributions

Logix / December 12, 2022

Retirement plan participants are responsible for taking the correct amount of RMDs every year from their accounts.

Set ‘Em and Forget ‘Em: Four Financial Resolutions You Can Accomplish Now

Logix / December 7, 2022

New Year’s resolutions are a mixed bag for many of us. On the one hand: personal betterment! On the other hand: methodical auditing of our refrigerator, checking account, and various vices. On the cusp of a fresh calendar year, we feel compelled to immediately transform our lives, but— as is the case with most good things— change takes time. This is especially true when it comes to financial goals. And in the aftermath of steep holiday spending, our goalposts can feel...far away.

7 Tips to Get Smart About Credit

Logix / November 8, 2022

If you are dealing with credit and debt, you aren't alone. You have a great opportunity to assess your financial situation and make a plan to move forward.

A Letter From Our CEO: 85 Years of Smarter Banking

Ana Fonseca / October 26, 2022

This year marks our 85th year of helping members thrive! We’re celebrating this remarkable milestone by recognizing you, our members, for contributing to our success all these years.

How Do Fed Rates Affect Financial Institutions?

Logix / October 13, 2022

To understand how the federal funds rate or "Fed rate" affects banks and credit unions, we first need to understand what the federal funds rate is and its role in the financial world. The Federal Government requires all depository institutions, like banks and credit unions, to have a minimum reserve level in proportion to their deposits. Those that do not have enough reserves borrow from other financial institutions that do. The Fed rate is the interest rate banks charge when lending money to each other from their reserve balance.

ATM Safety Tips

Sherlogix Holmes / August 24, 2022

With increasing rates of ATM scams in recent years, it's extremely important to stay alert and protect yourself when using the ATM. ATM fraud occurs when criminals steal card information through an ATM, and use that information to make unauthorized purchases or withdrawals. They typically rely on equipment installed at ATMs or wireless sensors to capture the information and create duplicate cards. Even without a physical card, the stolen data can be used to charge purchases or withdraw funds from your account.