Ana Fonseca

Dear Valued Member, 

Logix wants to share the safety and security of your deposits, and our long-standing commitment to your financial health. Besides competitive rates and trustworthy service, it would be hard to find a safer home for your deposits – particularly those exceeding $250,000.

  • Excellent Liquidity – Logix has more than $7.4 billion in stable, well-diversified deposits, along with $3.1 billion in unused borrowing capacity at the Federal Home Loan Bank and Federal Reserve Bank
  • Conservative Investments & Strong Balance Sheet – Logix maintains conservative investment and balance sheet management practices. We have no exposure to recently failed banks or cryptocurrency assets.
  • 5-Star rating – Logix consistently earns the highest possible rating for financial strength, as measured by industry analyst, Bauer Financial
  • Strong Capital Position – Our net worth (or capital) is 13.1% of assets, well above the 7% threshold our regulators, NCUA, require to be well-capitalized, and significantly above the bank average of 8.9%
  • Federally Insured – Member deposits are federally insured to at least $250,000 per individual vesting, with another $250,000 allowed for IRAs. By opening accounts using different individual/joint ownership structures, a family can secure coverage well above the federal insurance limit
  • Positive earnings – Your credit union maintained a perfect record of positive earnings over our 86-year history, including the great financial crisis of 2008. Click here to review our most recent audited financial statements

Logix remains committed to protecting your trust and providing peace of mind that comes with knowing your money is safe. Please call (800) 328-5328 with any questions you may have.

Sincerely,

Ana E. Fonseca
President and CEO

BauerFinancial™ Financial Strength Star Ratings based on 6/30/23 financial data (the most current available). Criteria used to determine the BauerFinancial™ Star-Rating includes capital ratio, profitability/loss trend, the level of delinquent loans, charge-offs and repossessed assets, the market versus book value of the investment portfolio, regulatory supervisory agreements, historical data, liquidity, and other factors. Logix financial results current as of 6/30/23. Your savings are federally insured to at least $250,000 by the NCUA, a U.S. Government Agency.

Logix is safe and strong

Here's how a few important financial ratios compare to the industry.

Net Worth (Capital)
Net Worth (Capital)

Logix capital ratio (also known as net worth or retained earnings) is nearly double the amount required by regulators. Logix capital provides a cushion of more than $606 million to protect member deposits, in addition to the federal insurance guarantee of at least $250,000 per individual vesting.

Uninsured Deposits to Total Deposits
Uninsured Deposits to Total Deposits

Compared to the average credit union and bank, Logix uninsured deposits represent only a small portion of total deposits. Logix maintains conservative investment and balance sheet management practices to ensure liquidity remains robust.

Loan Charge-off Ratio
Loan Charge-off Ratio

Logix net charge-off ratio is 0.16%, which means only a fraction of the loans we make result in a loss. Logix has never participated in subprime mortgage lending.

Loan Delinquency Ratio
Loan Delinquency Ratio

History shows that delinquency is an indication of future loan losses or charge-offs. We carefully review and underwrite all loan requests, and our lending policies remain conservative.

The charts above show Logix Federal Credit Union’s financial results as of 6/30/23. Bank and Credit Union averages are also current as of 6/30/23 (the most recent period available) and are based on institutions with $3 billion or more in assets. Source: Callahan & Associates and FDIC.gov.

Federally Insured Deposits
ACCOUNT OWNERSHIP TYPE
EXAMPLE ACCOUNT
NCUA COVERAGE
NOTES
Individual
Savings, Checking, Money Market – For Self Only
Up to $250k protected
Total amount in combined accounts.
Joint
Savings, Checking, Money Market – Multiple Owners
Up to $250k protected per owner
Amount per each owner's interest in joint accounts
Trust
Formal or Informal Revocable Trusts
Up to $250k protected per beneficiary
Amount per beneficiary, for each owner. Special rules apply for accounts over $1.25 million
Retirement
Traditional / Roth IRA, Keogh
Up to $250k protected
Amount in traditional and Roth IRA accounts added together. Keogh accounts insured separately. Beneficiaries do not change the coverage amount.
Business
Business Savings, Business Checking, Business Money Market
Up to $250k protected
Corporation, partnerships, or an unincorporated association are added together and insured to the $250k maximum. Sole proprietors or DBA accounts are insured as individual accounts. The amounts will be aggregated with the other individual ownership accounts at the credit union.

* Investment and Insurance products are not NCUA/NCUSIF insured.

Calculate your Federally Insured Deposits

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. You can calculate your federally insured deposits at the link below.  

Calculate my Insured Deposits

Your money is safe here. Deposits are federally insured to at least $250,000 per individual vesting (and another $250,000 for IRAs) by the National Credit Union Administration. We've maintained a perfect record of positive earnings since 1937 and hold a 5-Star rating for financial strength from Bauer Financial.

Bauer Financial NCUA
Additional Resources
The Best of the Best – Why Logix is (Objectively) Smarter Banking

Fact: Credit unions charge fewer fees and have better loan and deposit rates, on average, than banks. But don't take our word for it...

What is Capital and Why is it Important?

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...