The Logix Federal Credit Union Regular Certificates range from as short as 91 days up to 60 months (five years). You must deposit at least $1,000 to open a Regular Certificate and keep this much in the account to earn the APY.
Logix Federal Credit Unionâ€™s rates are average. If you have relationship status because of your combined balance at the credit union, it will give you a higher interest rate based on your status (Silver, Gold or Platinum).
It has several promotional offers with different rates and terms. It currently offers promotions for a 13-month and 27-month certificate with higher rates. The 27-month certificate also comes with a bump-up feature, which automatically increases your rate if market rates go up before your certificate matures. You must deposit at least $2,500 to use these promotions.
Logix Federal Credit Union also offers a 12-month Bump certificate that takes a minimum deposit of $5,000. If the credit union starts paying more after you sign up, you have the option for a one-time rate increase. Finally, Logix Federal Credit Union has a 12-month Flex certificate, which takes a $1,000 deposit. This certificate lets you make one additional contribution within the first 11 months of opening, and you can withdraw up to 25% of your initial deposit without a penalty.
If you make an early withdrawal on the other certificates or go over 25% for the Flex certificate, Logix Federal Credit Union charges an early withdrawal penalty:
If you take money out of your certificate early so that you can transfer the funds into a qualified brokerage product with Logix Financial Services (either a qualifying annuity or mutual fund), the credit union will waive the early withdrawal penalty.
Before you can open a Regular Certificate, you need to join Logix Federal Credit Union. You can apply online, at a branch or by completing the forms at home and mailing them in. The application will ask for your address, Social Security number and a form of government ID such as a driverâ€™s license or passport. You will also need to open a savings account with a minimum $5 deposit.
Once youâ€™re a member, you can apply for a Regular Certificate through the online banking portal, at a branch or by calling customer service. You will need to submit your opening deposit along with your application.