Logix Federal Credit UnionUnaffiliated
Strongly not recommended
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The Logix Federal Credit Union is a full-service, not-for-profit credit union that serves people in Arizona, California, Washington DC, Maryland, Massachusetts, New Hampshire, Maine, Nevada and Virginia. The credit union started in 1937 with 12 charter members as an service exclusively for Lockheed Aircraft employees and their families. Now it has $3.8 billion in assets and over 131,000 members. Its return on average assets in 2013 was 0.38%.
There is a $25 minimum amount to open a checking account and a $5.95 monthly service fee. The fee is waived when you have a balance of $2,500 or more in your account. Saving accounts have a $5 monthly fee, which is waived if you have a balance of at least $500. Saving accounts have a 0.25% APY, while checking accounts have an APY that ranges from 0.05% to 0.40% depending on what relationship tier a member is placed in. Members earn points with their financial transactions, which increases their relationship tier. The penalty for nonsufficient funds is $29.