This is such a great idea. I’ve banked with my credit union for nearly 40 years. They are conservative in their financial dealings (they keepmtheir loans in house and don’t sell them off in those dubious tranches), have better rates, better service, and fewer fees than ANY big bank. I don’t want to solicit uninvited on this site, but I’m a huge proponent of my credit union. If you’re looking for a great financial institution and you’re unsure of where to start, let me know and I’ll give you their name/link. I really have so many good things to say about my FCU.
Excellent, please go ahead and share the name of your credit union so others can benefit from your experience. Many people don't even know where to start when it comes to investigating banks and credit unions.
Thank you Robyn. I bank with Logix FCU. Link: Logixbanking.com phone:800-328-5328
I joined this credit union when I got my first job. Over the years, they have grown with me and met my needs every step of the way. For 40+ years, there's been no annoying voice menu when you call — an actual human service rep greets every call. In the last 2 months, they’ve "temporarily " implemented a menu, but at least you’re not asked to "describe your issue" to a computer that can never understand you. It's a direct routing to the appropriate department. Hopefully this is truly temporary. I blame Covid.
Several years ago I moved out of the area and thought I would like to have an account at a local credit union just in case I needed to do some face-to-face banking. I thought all credit unions were the same level of wonderful, but boy was I wrong. The level of service at the new CU was adequate, but the fees were higher and the rates were lower. I did open an account and make a nominal deposit, but I haven’t really had any need to utilize them. I have taken several loans with Logix over the years and they have been so professional, accommodating, and have never had a single glitch when it came to closing. Further, I really felt they had my best interest at heart as opposed to the realtor's lender who was really only interested in "closing the deal".
Anyways, probably TMI, but I just wanted to emphasize how much how special Logix Federal Credit Union really is! I hope this helps someone have a really great experience and support a credit union that supports you!
I was disappointed to learn that this particular credit union only serves eight states, but they can offer all services including various auto, mortgage, HELOC, etc. loans. The 8 states are: AZ, CA, MA, MD, ME, NH, NV, or VA
ALSO IMPORTANT: The agent informed me that any US citizen can join by selecting the option that says “ i’d like to qualify by joining the American Consumer Council". There is no cost to join and there is no requirement to provide proof of membership.
Open to US citizens in the above eight states and non-citizens can join, but should call the 800 number because it’s just too much information to provide in the space.
REGARDING FEES: this, too has changed slightly since the last I inquired. again, call the 800 number and for anyone who has limited funds, the service rep will be very helpful in guiding you to the best way to avoid fees. But in summary, as little as $5 is required to open a savings account with no fees. If you want savings and checking, that’s where the fees begin, but in my opinion they are still far lower than any commercial bank you will find. Summary:
Savings only: Minimum to open and min balance -$5
Paired Checking and Savings
Minimum to open checking: $1,000
Min savings/checking balances to avoid $5//month fee: $250/$750
NOTE: Minimum direct deposit of $250 to checking each month eliminates low balance fees
I have always found their number of fee free ATM transactions to be very reasonable, but I couldn’t find the fee schedule with a quick look. The short story is that they have a fairly liberal allowance for ATM transactions and free paper checks (if anyone uses those anymore!) with higher balances. And of course they offer Zelle, really convenient mobile check deposits, and a fairly decent app. Plus the outstanding customer service provided on the 800 line.
This is such a great idea. I’ve banked with my credit union for nearly 40 years. They are conservative in their financial dealings (they keepmtheir loans in house and don’t sell them off in those dubious tranches), have better rates, better service, and fewer fees than ANY big bank. I don’t want to solicit uninvited on this site, but I’m a huge proponent of my credit union. If you’re looking for a great financial institution and you’re unsure of where to start, let me know and I’ll give you their name/link. I really have so many good things to say about my FCU.
Excellent, please go ahead and share the name of your credit union so others can benefit from your experience. Many people don't even know where to start when it comes to investigating banks and credit unions.
Thank you Robyn. I bank with Logix FCU. Link: Logixbanking.com phone:800-328-5328
I joined this credit union when I got my first job. Over the years, they have grown with me and met my needs every step of the way. For 40+ years, there's been no annoying voice menu when you call — an actual human service rep greets every call. In the last 2 months, they’ve "temporarily " implemented a menu, but at least you’re not asked to "describe your issue" to a computer that can never understand you. It's a direct routing to the appropriate department. Hopefully this is truly temporary. I blame Covid.
Several years ago I moved out of the area and thought I would like to have an account at a local credit union just in case I needed to do some face-to-face banking. I thought all credit unions were the same level of wonderful, but boy was I wrong. The level of service at the new CU was adequate, but the fees were higher and the rates were lower. I did open an account and make a nominal deposit, but I haven’t really had any need to utilize them. I have taken several loans with Logix over the years and they have been so professional, accommodating, and have never had a single glitch when it came to closing. Further, I really felt they had my best interest at heart as opposed to the realtor's lender who was really only interested in "closing the deal".
Anyways, probably TMI, but I just wanted to emphasize how much how special Logix Federal Credit Union really is! I hope this helps someone have a really great experience and support a credit union that supports you!
This is awesome! I presume anyone in the US can open an account?
I’m so glad you asked because I called them and learned some things today. As the old caveat says: “terms are subject to change“ and they have since the last I checked. I will try to boil down what I can to make it easy here, but anyone interested can call the 800-328–5328, select 0 and the customer service agent was super helpful. Also, this link has most of the info regarding opening an account (which people can do at this same link): https://apply.logixbanking.com/xa/xpressApp.aspx?enc=Kw21Wblm1yxpjJabdoZaD2NUHeKqLnlXKlGUDIgb89lVdVjCQro58fb0Nn7p3MeSHEOkQt-3jSX1x09F42CEIjfn8z7PogWvIx7n1Zh-OCo
I was disappointed to learn that this particular credit union only serves eight states, but they can offer all services including various auto, mortgage, HELOC, etc. loans. The 8 states are: AZ, CA, MA, MD, ME, NH, NV, or VA
ALSO IMPORTANT: The agent informed me that any US citizen can join by selecting the option that says “ i’d like to qualify by joining the American Consumer Council". There is no cost to join and there is no requirement to provide proof of membership.
Open to US citizens in the above eight states and non-citizens can join, but should call the 800 number because it’s just too much information to provide in the space.
REGARDING FEES: this, too has changed slightly since the last I inquired. again, call the 800 number and for anyone who has limited funds, the service rep will be very helpful in guiding you to the best way to avoid fees. But in summary, as little as $5 is required to open a savings account with no fees. If you want savings and checking, that’s where the fees begin, but in my opinion they are still far lower than any commercial bank you will find. Summary:
Savings only: Minimum to open and min balance -$5
Paired Checking and Savings
Minimum to open checking: $1,000
Min savings/checking balances to avoid $5//month fee: $250/$750
NOTE: Minimum direct deposit of $250 to checking each month eliminates low balance fees
I have always found their number of fee free ATM transactions to be very reasonable, but I couldn’t find the fee schedule with a quick look. The short story is that they have a fairly liberal allowance for ATM transactions and free paper checks (if anyone uses those anymore!) with higher balances. And of course they offer Zelle, really convenient mobile check deposits, and a fairly decent app. Plus the outstanding customer service provided on the 800 line.