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  Logix Federal Credit Union Bump Certificate

Logix Federal Credit Union Bump Certificate

in CD Accounts from Logix Federal Credit Union · Member ncua

Unaffiliated

Logix Federal Credit Union Bump Certificate

Unaffiliated

in CD Accounts from Logix Federal Credit Union · Member NCUSIF

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Highlights
Minimum Opening Deposit Starting at $1,000
Deposit Term 12 months
APY (Annual Percentage Yield) 0.2% - 0.55%

Logix Federal Credit Union Bump Certificate Review

Logix Federal Credit Union Bump Certificate is offered by Logix Federal Credit Union, a credit union founded in 1937 and based in Burbank, CA. Logix Federal Credit Union Bump Certificate is available in 8 states across the USA.

Key Takeaways
  • Only one CD account type available. Logix Federal Credit Union Bump Certificate only offers bump up CD accounts.
  • Very high APY. This account offers an annual percentage yield of up to 0.55%, which is much higher than the national average for a CD account.
  • $1,000 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit.
  • Limited selection of CD terms. Logix Federal Credit Union Bump Certificate only offers one CD terms. This limits your options when trying to set up a CD ladder.
Pros & Cons of Logix Federal Credit Union Bump Certificate
Pros Cons
  • NCUSIF insured.
  • High-interest yield.
  • No charge on incoming domestic or international wire transfers.
  • Only available in 8 states.
  • Poor selection of CD terms.
  • There isn't a no-penalty CD option.
  • Does not offer an IRA CD.
Logix Federal Credit Union Bump Certificate FAQ

Are cd accounts from Logix Federal Credit Union federally insured?

Yes, your Logix Federal Credit Union cd accounts are insured up to $250,000 per person by the National Credit Union Share Insurance Fund (NCUSIF). Individual Retirement Accounts (IRA) are insured separately up to $250,000. The National Credit Union Administration (NCUA), a federal agency, administers the insurance fund and regulates federally insured credit unions. The fund is backed by the full faith and credit of the U.S. Government.

What types of CDs does Logix Federal Credit Union offer?

Logix Federal Credit Union Bump Certificate provides the following types of CDs.
  • Traditional CDs. These CDs pay a fixed interest rate i you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or rolling over the CD for another term.
  • Bump-up CDs. Bump-up CDs allow you to increase the interest rate you earn on your savings if the going interest rates rise. These CDs are useful in a changing interest rate environment.

What CD rates does Logix Federal Credit Union offer on its CDs?

Logix Federal Credit Union Bump Certificate offers an APY starting at 0.2% and ranging up to 0.55%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding.

What terms does Logix Federal Credit Union Bump Certificate offer?

Logix Federal Credit Union offers CD terms of the following lengths:
Logix Federal Credit Union Bump Certificate Rates & Terms
Description
12-Month APY 0.2% - 0.55%
APY (Annual Percentage Yield) 0.2% - 0.55%

What is the minimum deposit to open a CD account with Logix Federal Credit Union?

Logix Federal Credit Union Bump Certificate requires a minimum deposit of $1,000 to open an account.

What is the grace period for Logix Federal Credit Union Bump Certificate?

There is a 7-day grace period for Logix Federal Credit Union Bump Certificate. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the 7-day grace period. Note that the new CD rates probably won’t be the same as the original.

What types of fees, such as early withdrawal penalties, does Logix Federal Credit Union Bump Certificate charge?

Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the CD term ends.

Logix Federal Credit Union does not charge an early withdrawal fee.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

  • Headquarters
  •   2340 N Hollywood Way
    Burbank, CA 91505
  •   Visit Site

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 5:00pm
  • Tuesday 9:00am - 5:00pm
  • Wednesday 9:00am - 5:00pm
  • Thursday 9:00am - 5:00pm
  • Friday 9:00am - 5:00pm
  • Saturday 9:00am - 2:00pm

Other Services by Logix Federal Credit Union

Icon for CD Accounts
View all cd accounts offered by Logix Federal Credit Union

Availability

  Available in 8 states
  • Arizona
  • California
  • Massachusetts
  • Maryland
  • Maine
  • New Hampshire
  • Nevada
  • Virginia

Feature Breakdown

Minimum Opening Deposit Starting at $1,000
12-Month APY 0.2% - 0.55%
APY (Annual Percentage Yield) 0.2% - 0.55%
CD Accounts Bump Up
Grace Period for Account Changes 7 days
Deposit Term 12 months

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