SMARTLAB by Logix

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.

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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.

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I look forward to the beginning of each new year as an opportunity to set self-improvement goals. For many of us, New Year's resolutions are focused on health but it’s just as important to evaluate your financial wellness and resolve to set some long- and short-term goals. Fortunately, January is Financial Wellness month, which was created to remind us to pay closer attention to our financial well-being after the hustle, bustle, and high spending that comes with the holiday season.

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Fact: Credit unions charge fewer fees and have better loan and deposit rates, on average, than banks.

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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. Lockheed Aircraft Employees Credit Union was chartered by twelve Lockheed employees in 1937, just as the country was climbing its way out of the Great Depression. Our members – then, all Lockheed employees – found safety, financial value, and excellent service in the years that followed and this continues to be true 85 years later.

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