Whether you’re looking for a houseplant, a coffee table, or a new gaming console, online marketplaces can be great places to start. But be careful. Anonymous listings and virtual transactions are ripe for online marketplace scams, which can take a variety of forms.
Many members came to #creditunions chasing a great rate, not realizing that they are taking part in something larger and more important – especially during times of economic uncertainty. So, while every company that has your email address wrote you last week about the safety of your account, I’d like to tell you why the one from your credit union might be worth a second look.
After all, you own the place.
We’d like to introduce you to compound interest. It’s a simple principle that works consistently in practice. When you invest, your investment starts to earn money. Then the gains it accumulates also start to earn money and your initial investment can snowball very quickly.
Dear Valued Members,
Given recent events in the banking industry, including the sudden shuttering of Silvergate Bank and the FDIC’s takeover of Silicon Valley, Signature, and now First Republic Bank, I saw an opportunity to reach out about your relationship with Logix. At times like this, it’s nice to be reminded of the security of your deposits and our long-standing commitment to your financial health. Times like this can also be eye-opening; we’ve experienced an increase in calls from individuals who are moving funds to Logix over concerns with their bank's safety. Besides competitive rates and trustworthy service, it would be hard to find a safer home for your deposits – particularly those exceeding $250,000.
You may have seen some of the recent e-mails we’ve sent to let you know that, despite these uncertain times, your money is safe with Logix Federal Credit Union.
You might have even noticed some similar language in each one: Your deposits are federally insured up to $250,000 by the National Credit Union Administration; we’re one of the healthiest and strongest financial institutions in the nation and capitalized at 13.3%! Then we tell you that these statements ought to put our members’ minds at ease.