Checking Accounts

An overdraft occurs when you do not have enough money in the available balance in your account to cover a transaction at the time it is presented for payment, but Logix Federal Credit Union pays it anyway. We can cover your overdrafts in two different ways:

1. We have standard overdraft practices that come with your account.
2. We also offer overdraft protection transfer plans, such as a transfer from your savings, which may be less expensive than our standard overdraft practices.

Click here for all the details.

We do authorize and pay overdrafts for the following types of transactions:

• Checks and other transactions made using your checking account number
• Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to:

• ATM transactions
• Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined.

Under our standard overdraft practices, no Courtesy Pay Fee is charged if your available balance overdraft is $5.00 or less. The following tiered fees apply if your available balance overdraft is more than $5.00:

• No Charge for any item/transaction of $5.00 or less;
• $10.00 for each item/transaction amount between $5.01 and $15.00; and
• $30.00 for each item/transaction amount over $15.00

The maximum you could be charged per day for Consumer accounts is five (5) overdraft fees totaling up to $150.00 and for Business accounts are ten (10) overdraft fees totaling up to $300.00.

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions here are your options:

• In Person - When applying for membership or at any time, just ask to Opt-In to Courtesy Pay for ATM and everyday debit card transactions and complete and sign our Opt-In Consent form.
• Online - When logged on to Online Banking, go to the Account Services tab, select Courtesy Pay Options to go to the Courtesy Pay page, and click on the Opt-In button, or
• Over the Phone - Call us at (800) 328-5328

If you no longer want us to authorize and pay overdrafts on ATM and everyday debit card transactions:

• In Person - Visit us at any one of our branches.
Online - When logged on to Online Banking, go to the Account Services tab, select Courtesy Pay Options to go to the Courtesy Pay page, and click on the Opt-Out button, or
• Over the Phone - Call us at (800) 328-5328

Logix offers a Premier Checking Account that earns dividends with a minimum $2,500 balance, and a High-Rate Checking Account that earns dividends with a minimum $20,000 balance. *

*Dividends are earned daily, are credited, and compounded monthly on the first day of each month. For current rates click here.

Yes, Logix Checking Accounts offer either Silver, Gold, or Platinum Rewards based on your combined household income. *

*Combined household income balance includes any loan, mortgage, checking, money market, and savings balances (excluding certificates) at Logix.

To set up Direct Deposit, provide your employer with your routing and account number(s) for the Checking or Savings Account want your paycheck or Social Security funds deposited into.

Your employer may request that you supply them with a “voided” physical check if you’d like the deposit to go into a checking account. The check includes the routing and account numbers needed to process the direct deposit. If a voided check is not requested, the Logix routing number and your unique account numbers can be found by logging into your Logix Online Banking account or the Mobile Banking App. For reference, the Logix routing number is always 322274187.