Messages From Our CEO

What's Next?

Monday, September 28, 2020

Dear Valued Members,

2020 has brought forth a perfect storm of challenges, including a worldwide pandemic, shuttering of thousands of businesses, civil unrest, and a global economic recession. Now more than ever, Logix is committed to providing you with peace of mind and trustworthy financial value and service.

We are proud to pay leading Money Market, Certificate, and IRA rates, backed by 83 years of unmatched financial strength. Credit Card, Home Equity Lines and Vehicle rates have dropped, and mortgage rates are at the lowest levels we’ve ever seen. Platinum members continue to earn three rewards points per dollar spent on their Platinum Rewards credit card.

With elevated COVID-19 cases and double-digit unemployment rates, the communities we serve need our help more than ever. We donated 1,000 N95 masks to Henry Mayo Newhall Hospital, raised $20,000 for local food banks, and donated $50,000 to local hospitals through our Paying with a Purpose campaign. We also assisted 16,000 members impacted by the pandemic by deferring loan payments for 90 days or longer.

Through employee donations and proceeds from the sale of Robix-branded masks, the Logix Community Stars Foundation is on track to raise $202,000 this year to support its non-profit partners: Burbank Temporary Aid Center, Circle of Hope, For the Troops, and Penny Lane Centers.

The pandemic has increased the need for remote access to banking services. Calls to our Member Service Center and the use of online and mobile banking increased considerably. Digital wallets such as Apple Pay, Google Pay, and Samsung Pay provide members with a fast and contact-free way to pay for in-app and in-person purchases using their Logix cards. While it’s exciting to see members adopt digital services, there’s nothing better than seeing you in person at a Logix branch! In July, Logix became the first credit union to open a branch in Calabasas, providing convenient access to members in the West San Fernando Valley.

What’s Next, You Ask?

We want to be available when and where you need us, so we are focused on adding to our menu of digital offerings. We will soon add Zelle, a mainstream Person-to-Person (P2P) payment solution, making it fast and easy to send and receive money to friends and family, regardless of where they bank. We will issue cards digitally as well as physically, making cards immediately available for use in digital wallets. Mobile app services will expand to include more self-service options, including adding accounts, changing card PIN, requesting increases to daily card limits, managing notifications, and submitting fraud and dispute claims on card transactions. These are just a few of the enhancements we are working on for you.

Thank you!

Thank you for your membership and for recognizing Logix as the best credit union in our communities. This year, we were voted best in a financial services category for the 15th consecutive year by readers of the Santa Clarita Valley Signal. Additionally, we received recognition from the San Gabriel Valley's Readers Choice Awards and readers of the Antelope Valley Press and the San Fernando Valley's Daily News. Thanks to you, we were also named a Best-In-State Credit Union by Forbes for the third consecutive year.

Please stay safe and know that you can count on Logix!

Warmest regards,

Ana E. Fonseca
President and CEO


Further Expansion of Services

Monday, June 1, 2020

Dear Valued Members,

Since my last update, we had an overwhelmingly positive response to our expanded branch and contact center hours. A special thanks to all our members who visited a Logix branch and for your patience as we continue to exercise safety protocols. The health and safety of our members and employees remains our highest priority, thus we continue to enforce safety protocols until COVID-19 is no longer a serious threat.

Please see our latest updates below, effective Monday, June 1.

  • Contact Center Availability. The contact center is open from 7:00 a.m. to 7:00 p.m. PDT Monday through Friday and Saturday from 9:00 a.m. to 3:00 p.m. PDT. We are answering most calls live and look forward to assisting you with your needs.
  • Branch Access. Our Valencia Bridgeport branch will open Monday, June 1. Branches are open six days a week from 9:30 a.m. to 4:00 p.m. PDT Monday through Friday and from 9:00 a.m. to 1:00 p.m. PDT on Saturday. All branches have Financial Service Officers and Financial Consultants available for your mortgage, investment and other financial needs. To make an appointment to see an FSO, please click here.

    As Los Angeles and Ventura Counties continue to open, we remain guided by the recommendations of public health authorities, as well as state and federal mandates regarding reopening businesses. This means we enforce sanitizing protocols throughout our branches, along with social distancing procedures. These procedures require us to limit the number of members allowed inside a branch at any given time to ensure safe distancing. We are also making every effort to provide shade and chilled water outside our branches to maintain comfort during hot weather for those waiting for service. For everyone’s safety, we require members and employees to wear face masks while inside of our branches. We appreciate your compliance with this requirement.
  • Remote Access. For your convenience, members have access to a variety of remote banking services. I’d like to remind you that we have increased check e-deposit limits on our mobile app and increased daily withdrawal limits at ATMs.
  • Hardship Relief. We have provided assistance to more than 14,000 members during this difficult time and we are here to help you with your needs. Please call us or initiate a request for help here. For anyone currently under a loan extension or mortgage forbearance agreement, we will contact you about options available to you at least 30 days before the end of your agreement.

Thank you for your continued trust in Logix. We value your trust above all else. I really enjoy reading your stories and sharing them with our employees, so please continue to send them to TellUsYourStory@lfcu.com. I wish you continued health and safety.

With gratitude and sincerity,

Ana E. Fonseca
President and CEO


Expanding Hours and Availability

Friday, May 15, 2020

Dear Valued Members,

On behalf of our entire Logix family, I want to thank you again for your continued trust and the efforts you are making to keep yourselves and loved ones safe. In my last communication, I explained how your current needs and financial wellbeing are helping us shape decisions about how we serve you during these challenging times.

To that end, we are expanding our contact center hours and reopening most of our closed branches beginning Monday, May 18.

  • Contact Center Availability. The contact center will be open from 7 AM to 7 PM PDT Monday through Friday and on Saturday from 9 AM to 3 PM PDT.
  • Branch Access. Our Valencia Promenade, Porter Ranch, Newbury Park, Tapo Canyon, Tarzana and Thousand Oaks locations will reopen Monday, May 18. Our branches are returning to a six-day-a-week schedule and will be open from 9:30 AM to 4 PM PDT Monday through Friday and from 9:00 AM to 1 PM PDT Saturday. We will no longer require in-person appointments for teller transactions. This means you will be able to safely enter our branches at your convenience so we can serve you in a safe and secure environment. Our Financial Service Officers (FSO) remain available by phone for new mortgages and other financial needs. We will have one FSO available in-person at each branch during business hours, we strongly encourage members to make an appointment to meet with an FSO.

    Safety will continue to be our top priority. As such, we will remain guided by the recommendations of public health authorities, as well as state and federal mandates regarding reopening businesses. Throughout the pandemic and beyond, we will remain committed to the health, safety and wellbeing of our members and employees. That means we will continue to enforce sanitizing protocols throughout our branches, along with social distancing procedures. We have also introduced new measures to enhance your comfort when you visit our branches. For example, while we limit the number of members allowed inside a branch at any given time to ensure safe distancing, we will provide shade outside our branches with cold bottled water available to maintain comfort during hot weather for those waiting for service.
  • Remote Access. We will continue to offer you access to remote services and encourage you to peruse our guide to remote banking services. I’d also like to remind you that we have increased check e-deposit limits on our mobile app and increased daily withdrawal limits at ATMs.
  • Hardship Relief. We have provided assistance to over 14,000 members during this difficult time and continue to be here to help you with your needs. Please call us or initiate a request for help here.

Throughout our history, and during every period of uncertainty and crisis, Logix has extraordinarily served its members. We work extremely hard every day to earn your trust. We value that trust above all else. I wish you continued health and safety.

With gratitude and sincerity,

Ana E. Fonseca
President and CEO


From My Home to Yours

Monday, May 11, 2020

Dear Valued Members,

On behalf of each of us at Logix Federal Credit Union, I hope that you and your loved ones are safe and healthy.

When the pandemic first took hold, our leadership team and I tried to anticipate what life would be like for you, our Logix members. We immediately took steps to ensure we could continue serving you during this unprecedented crisis. This was a challenge since, like many Americans, many of our employees are working from home.

We quickly introduced safe and healthy practices in our branches, provided a plethora of information on our website and improved convenience through our remote channels. We wanted all of you focused on remaining healthy instead of worrying about the safety of your deposits or worrying about making your next mortgage payment, in the event you were financially affected. We created multiple relief options to assist you during this difficult time and many of us, including me, had several opportunities to personally connect with many of you.

When I provided my direct phone number to thousands of members in a letter about our safety and soundness, I wasn’t expecting to receive many calls. You proved me wrong, with dozens of you reaching out to me personally to share your concerns, requests and compliments about Logix and our staff. I am so grateful for these opportunities to connect with you. During these calls, I got to know you better and have been forever moved by your stories.

I was especially moved by one member, an elderly Lockheed retiree and Burbank resident, who was concerned about her branch closing down temporarily. She needed to know how she would be able to deposit a check she was expecting but mostly, she wanted to make sure that the branch staff was healthy and that she would be able to see them again. I also spoke to a long-time member who needed to withdraw enough cash to weather this storm but wanted to avoid crowds and ATMs. I was able to arrange an appointment for him the next business day to fulfill his request. I spoke to many of you who wanted to know if your stimulus payment was deposited or whether your beneficiaries on your account were up to date. One theme was consistent during these calls: that you consider Logix part of your family. Hearing this time and time again was heartwarming and a good reminder of why we are here for you.

Your concerns, your needs and your stories have helped shape our strategy for operating during this time:

  • Branch Access. You are the reason why we kept many of our branches open and reopened a few that had been closed. You told us you needed face-to-face opportunities for the most critical of your financial needs. We have procedures in place for the health and safety of our members and employees. Our branches are cleaned thoroughly with sanitizing products each day. This month, we will begin opening more of our branches as our staffing levels normalize.
  • Remote Access. You are the reason we made remote access more convenient. For those of you who remain hunkered down in your homes and want the reassurance that your funds are safe and available, we are virtually here for you. We provided a guide to remote banking services, increased check e-deposit limits on our mobile app and increased daily withdrawal limits at ATMs. Our Financial Services Officers remain available by phone for new mortgages and other financial needs.
  • Hardship Relief. You are the reason we instituted convenient access to assistance with your loans and are waiving many fees. We will continue to be here for you to help you with your needs. Please call us or initiate a request for help here.

The history of credit unions is a history of partnership, with employees and members all invested together in mutual challenges and success. In previous communications with you, I have written about our financial strength to reassure you that Logix is one of the healthiest and strongest financial institutions in the nation with more than double the regulatory well-capitalized level required to protect your assets and provide the kind of support you expect from us during a crisis and beyond.

This communication is about a different kind of fortitude - a strength of spirit and character that is demonstrated daily by Logix members and our employees. This kind of strength combined with our financial strength will allow us to emerge even stronger as we look forward and prepare for our “new normal”.

We remain committed to helping our members thrive. Please keep your stories coming by emailing TellUsYourStory@lfcu.com. Tell us how we can help you. That’s what we want to hear. Your financial needs are the basis of how we make decisions at Logix.

To the members who have personally expressed gratitude for the service they received from staff and told me that Logix is like family to you - I am grateful for your continued trust in us. My hope for you and your loved ones is that you remain safe and that together we see the other side of this crisis soon.

With much appreciation,

Ana E. Fonseca
President and CEO


Safe & Secure

Monday, March 30, 2020

Dear Valued Members,

With the ups and downs of the economic markets it can be confusing to know whether you should invest, divest, or withdraw cash and keep it at home in your safe or elsewhere. Having a trusted partner to help provide reassurance and guidance during these times is vital.

We take the trust you have in us very seriously. You chose to deposit your money with Logix because of the financial value you receive but more importantly because of the security you feel due to our financial strength. I want to provide you some information about Logix that I hope brings you peace of mind.

Credit unions emerged in response to The Great Depression with the express purpose of protecting the financial health of a field of membership, instead of for the benefit of shareholders who may or may not be customers. Times of great instability are when credit unions thrive. Logix, your trusted credit union, is one of the healthiest and strongest financial institutions in the nation with 15% capital, which is more than double the regulatory well-capitalized level of 7%. This has helped us weather many storms throughout our history and this time will be no different. Through every market downturn, every crisis, every period of doubt and instability, Logix has successfully continued to serve members. In each case, we have emerged even stronger, never losing a penny of our members' deposits in 83 years.

We also want to remind you that:

  • Your deposits at Logix are federally insured by the NCUA up to at least $250,000 per individual depositor. IRAs are insured separately up to an additional $250,000. To learn more, click here.
  • Logix is rated "superior" by Bauer Financial, a rating agency devoted to evaluating financial strength of banks and credit unions.
  • As a member-owned cooperative, we operate with one goal in mind: Helping you thrive.
  • Our Business Continuity Plan was created by the industry's foremost experts and is tested regularly. Thus far, it has proven effective in every disaster and crisis.

We understand that having access to cash is important for our members. Our branches remain open for you but you can also withdraw cash from one of 30,000 CO-OP ATMs. We caution against having too much cash on you or in your home. Once withdrawn from your Logix account, those funds are no longer insured and pose a risk of loss or theft. We want you and your money to remain safe.

At Logix, we remain committed to serving your financial needs now and in the future.

Sincerely,

Ana E. Fonseca
President and CEO


Our COVID-19 Response

Wednesday, March 11, 2020
(Updated Wednesday, April 17, 2020)

Dear Valued Members,

During this time of uncertainty and concern about coronavirus (COVID-19) and related market volatility, we want to let you know that we are here for you!

The health and safety of our members and employees is our top priority. We are closely monitoring reports and recommendations from the CDC (Centers for Disease Control) and other experts to guide our decisions and practices to prevent the spread of COVID-19 and other illnesses. Logix is well-prepared for any contingencies, and we've put the following measures in place:

Branch locations and ATMs:

Our branches and ATMs are cleaned daily as part of our normal course of business. We have increased those efforts by continuously disinfecting surfaces that are frequent points of contact, such as door handles, keyboards, PIN pads, ATM screens and many others, throughout the day. We have suspended hand shaking and have hand sanitizer available at all branches for employees and members.

Effective Monday, April 6, appointments with Financial Service Officers will be conducted exclusively via telephone. We are also closing our Bridgeport, Newbury Park, Porter Ranch, Simi Valley Tapo Canyon, Tarzana, Thousand Oaks and Valencia Promenade branches temporarily and reducing our operating hours to access teller services and Financial Consultants at all other branches. (A full list of Logix branches and availability can be found here.)

Headquarters Facility:

We have increased the frequency and extent of cleaning and disinfecting all surfaces and areas that are frequent points of contact, such as doors, handles, elevator buttons, handrails, conference rooms, dining areas and restrooms. A large percentage of our staff is required to work remotely, while staff members who are unable to work remotely are being relocated to decrease proximity to others.

Business Continuity:

We are prepared to continue operations according to our business continuity planning (BCP) procedures. Our BCP is very comprehensive and it is reviewed, updated and exercised annually to ensure critical functions and services remain available for our members.

Your Deposits are Insured by the NCUA:

We know you may have some concerns with the economic uncertainty this virus has caused. We want to assure you that your money is safe with Logix. Your deposits are not only insured up to $250,000 by the National Credit Union Association (NCUA), but for more than a decade, Logix has earned the highest rating of "Superior" (5-Stars) by Bauer Financial for financial stability. We are one of the healthiest and strongest financial institutions in the nation with 15% capital, which is more than double the regulatory "well capitalized" level of 7%. As a valued member-owner of this credit union, that's something we hope you're proud of and helps put your mind at ease.

Access Your Account Anytime, Anywhere:

You can also access your accounts remotely and conveniently through the options listed below.

  • Call our Contact Center at (800) 328-5328 weekdays from 8 AM to 6 PM and Saturdays from 9 AM to 3 PM (Pacific Time)
  • Utilize the Logix mobile app 24/7 to check balances, view and conduct transactions, and more
  • Visit online banking 24/7 from your desktop or mobile device at www.lfcu.com
  • Use any one of 30,000 free CO-OP ATMs. Click here for a detailed map.
  • Access automated account information 24/7 by calling (800) 841-4123

We appreciate your membership and are grateful that you trust Logix with your financial wellbeing. We continue to evaluate the rapidly evolving situation and, as new information becomes available, will take appropriate measures to ensure ongoing operations. If you would like additional information on COVID-19 virus, please visit the CDC's website at www.cdc.gov.

Thank you,

Ana E. Fonseca
President and CEO