75-Year-Old Credit Union Selects New Name to Encourage Member Growth
BURBANK, CA--(Marketwire - May 9, 2012) - Lockheed Federal Credit Union (LFCU) is changing its name and will officially become Logix on July 9, 2012.
"We are very excited about our new name and the future of our credit union," LFCU President and CEO Dave Styler said. "We've served Lockheed Corporation and Lockheed Martin employees and their families for 75 years, and we're tremendously proud of our history and heritage. This change is one of many steps we are taking to positively position the credit union for sustained, healthy growth for the next 75 years."
The LFCU leadership team, in conjunction with the credit union branding partner Weber Marketing Group, spent a year conducting extensive research and analysis with its members and non-members to determine how the credit union's name was perceived in the community, as well as how a new name and brand would help future growth. During the research, the LFCU team learned that the Lockheed Federal Credit Union name created confusion with potential members who were uncertain if they could join if they were not Lockheed or government employees.
"We chose the name Logix because it is distinctive, memorable, and suggests a smarter, more logical banking choice," Styler said. "Our new name will also feature the tagline 'smarter banking' to reflect our credit union's better rates, lower fees, proactive service, easy access to state-of-the-art banking technology, and culture of member advocacy."
The name change is not a result of a merger or change of ownership for the credit union.
Lockheed Federal Credit Union has 11 branches in Los Angeles and Ventura counties, and more than 105,000 members. The credit union was named one of Los Angeles Business Journal's best places to work in 2010 and 2011. More information is available at www.lfcu.com.
About Lockheed Federal Credit Union
Lockheed Federal Credit Union has more than $3 billion in assets, and is rated "excellent" for financial strength. Chartered in 1937, LFCU offers preferred rates on savings and loan accounts, surcharge-free access to 28,000 ATMs and access to a nationwide network of branches.
Today, LFCU is the largest financial institution headquartered in the San Fernando Valley. LFCU operates branches in the San Fernando, San Gabriel, Santa Clarita and Antelope valleys, as well as eastern Ventura County. Most Southern California residents are eligible to open an account. Deposits in LFCU are federally insured by the National Credit Union Administration, a U.S. Government Agency. LFCU is an equal housing lender.