Anyone heard of Logix FCU?

[mark1210]

Was browsing the Interwebs tonight and stumbled upon a credit union called Logix.  Upon further investigation it appears it is related to or was Lockheed FCU.  Was curious if anyone here uses them - feedback?  How are their credit lines and ease of credit/loans?

It appears anyone can join as long as they join ACC.

Thanks!

[Crashem]

Anything special about it?

[mark1210]

Their auto rates seem quite low - I haven't app'd with them yet...but was hoping someone here could shed some light on the topic.  This may be a bad assumption but I would assume that perhaps if someone didn't have Logix but had Lockheed it would be similar?

[toi34]

I app'd with Logix in June. They are Lockheed, but changed the name recently. I was approved for their Visa card. I called-in my app and it was a soft pull on Ex. Since I did not have a banking relationship with them I was only given a $500 limit. The rep tried to get me a higher limit; she put me on hold and spoke to an underwriter, but he couldn't do it without a banking relationship. So i opened a savings account and put $100 in it. I will request a CLI in December, which puts me at about 6 months. CS was nice, and they really try to help.

[djc1puno]

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@toi34 wrote:

I app'd with Logix in June. They are Lockheed, but changed the name recently. I was approved for their Visa card. I called-in my app and it was a soft pull on Ex. Since I did not have a banking relationship with them I was only given a $500 limit. The rep tried to get me a higher limit; she put me on hold and spoke to an underwriter, but he couldn't do it without a banking relationship. So i opened a savings account and put $100 in it. I will request a CLI in December, which puts me at about 6 months. CS was nice, and they really try to help.

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any requirements for opening checking savings (ie score, sp/hp?, lockheed employee?)?

[cheychey99]

I joined Logix FCU in April of this year. I set up a checking and savings account and was approved for a VISA 1k limit when my EX score was 610. They did a hard pull for membership but IIRC they used that same HP for the cc. The CSR are very friendly and they offer some pretty good car loan rates. Anyone can join if you are willing to donate to whatever org they are affiliated with.

[toi34]

There is a requirement for membership, but I cannot remember what you need to be a member of. I am a member of CTA already so that qualified me. My EX report shows two soft pulls, one for membership, and another for the credit app CLI after the rep tried to recon with the UW, otherwise, she used the same initial soft pull for both the membership and the visa...but you need to call-in, if you apply online it will be a hard pull.

[mark1210]

Oh how I wish I saw that about calling in first to avoid a hard pull.  I applied online late last night, was an immediate decline for their Logix Visa Platnium.  Very puzzled by that, I have just wrapped up an app spree.  Interestingly enough though this morning I get a phone call from them wanting to discuss why I requested 20,000 CL.  I explained that I wanted to establish a good credit line for a balance transfer without hurting my utilization.  She said my score was EQ 701 (it's dropped a bit from all the hard pull action from my app spree) but fits the credit qualifications.  She puts me on holds and checks with a loan officer on why it was declined.  10 minutes later, approved- wasn't at 20K, but 15K - still happy overall.  

Long story short - she never really explained why the system declined even after I asked her a few times.  Qualified for the card along with the 4.99 Balance Xfer promo.  Happy camper but definately not applying for anything new for a good year or so. 

I definately appreciate the call from them - obviously they wanted to try to do something.  Them being proactive was a nice touch.  I really can't find out a lot about this credit union - I found a few posts on google saying their membership was stuck at only 20% of eliglbe lockheed folks and that the name change was to increase their membership.  From what I can find, seems their finances are pretty strong.

[TATATA]

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@mark1210 wrote:

Was browsing the Interwebs tonight and stumbled upon a credit union called Logix.  Upon further investigation it appears it is related to or was Lockheed FCU.  Was curious if anyone here uses them - feedback?  How are their credit lines and ease of credit/loans?

It appears anyone can join as long as they join ACC.

Thanks!

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I had their secured credit card a little over a year ago. Their customer service is great! They can be conservative. HP on EXP for membership and use the same pull for credit products. 

[Hightechredneck]

I have found Logix is a very conservative lender. Small CL with a decent CS. I declined them.