Dear Valued Members,
As we step into the New Year, I want to take a moment to express my deepest gratitude for your continued trust and loyalty to Logix Federal Credit Union. Your support has been the cornerstone of our success, and it's my pleasure to share with you some highlights from the past year and what’s ahead for 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.
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 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.
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.
