2016 Dividend: A letter to our members from Logix CEO, Dave Styler
Logix Federal Credit Union again experienced an exceptional year in 2015.
For the fifth year in a row, a record number of members joined Logix, taking advantage of our low auto and mortgage loan rates to help generate the highest loan volume in our history. Thousands of members deepened their savings relationships and opened checking accounts. We launched a new Porter Ranch branch, and again in 2015, over 96% of members indicated they would recommend us to others.
Based on our industry-leading net worth position, our Board of Directors authorized a total of $5.2 million in Loyalty Dividend payments to qualifying members.
This dividend was deposited into qualifying members’ savings accounts on February 24, 2016.
We hope this dividend demonstrates the unique advantage of membership in Logix (we share our success with those who make it possible), and serves as a reminder of our commitment to you, our loyal members.
For more information about your Loyalty Dividend, please take a moment to read the Q&A here. You may also give us a call at (800) 328-5328 (6 a.m. to 8 p.m. M-F, 8 a.m. to 5 p.m. Saturdays) or contact me directly at dstyler@lfcu.com.
We are pleased to share our success with loyal members like you. Thanks again for your membership.
Sincerely,
Dave Styler
President & CEO
#LogixDividend
Want to let us know how you feel about the dividend? Please join the conversation on social media using the hashtag #LogixDividend!
Q: How was the 2016 Logix Loyalty Dividend calculated?
Today, Logix will return $5 million to the people who helped us earn it.
A Letter from our CEO: Tapping the Brakes to Avoid Excessive Growth
When I arrived at LFCU in 1989 as CFO, the Credit Union had roughly 100,000 members. When I left briefly in 1993, LFCU had roughly 100,000 members; and when I returned to LFCU in 2001 as CEO, we still had roughly 100,000 members. In fact, from the late 1980s until 2010, the credit union’s total member population remained relatively constant, at about 100,000.
