When it comes to your hard-earned money, ensuring its safety is a top priority. You may be considering joining a credit union and wondering, "Are credit unions FDIC insured?" This is an important question, and we're here to provide you with all the information you need to make an informed decision about your finances.
Are Credit Unions FDIC Insured?
Monday, November 13, 2023
A conventional home mortgage is a type of home loan that is NOT backed or insured by a government agency like the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA), but many conventional loans end up being purchased by Fannie Mae and Freddie Mac. Instead, conventional mortgages are typically offered by private lenders such as banks, credit unions, and mortgage companies. These loans often require a higher credit score and a larger down payment compared to government-backed mortgages. Conventional mortgages can be used for various types of 1 - 4 unit homes, including primary residences, second homes, and investment properties. They are a common choice for homebuyers with good credit and financial stability.
Avoid Scams That Pose as a Financial Institution
Thursday, November 02, 2023
Scams impersonating financial institutions have become increasingly prevalent in our digital age. Falling for one can cost you money and peace of mind. Stay informed and safeguard your financial well-being as we dive into the latest tactics of fraudsters that masquerade as legitimate financial institutions.
Are Credit Unions Safer than Banks?
Wednesday, November 01, 2023
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.
Why Your Logix Card Belongs in Your Digital Wallet
Monday, October 23, 2023
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.
