After a year on the drawing boards, the $3.3 billion LockheedFederal Credit Union will become Logix FCU on July 9, a name changereflecting a lessening of formal ties to its original corporatesponsor.

The new brand, rolled out in a series of emails to members,should help the Burbank, Calif., credit union eliminate ongoingconfusion over membership eligibility, a problem that has longplagued the credit union,  explained David Styler,president/CEO.

“This is something that we've agonized over for a long time, andI am getting mixed and understandable reaction so far from memberswho feel attached to the Lockheed name, something we are equallyproud of our history and heritage.”

Nonetheless, “we chose the name Logix because it is distinctive,memorable and suggests a smarter, more logical banking choice,” headded

The new name, he said, “will also feature the tagline 'smarterbanking' to reflect our credit union's better rates, lower fees,proactive service, easy access to state-of-the-art bankingtechnology and culture of member advocacy.”

Weber Marketing Group of Seattle provided the creative and thebranding package, said Styler, noting it was produced after monthsof focus group research and internal analysis.

“We've served Lockheed Corp. and Lockheed Martin employees andtheir families for 75 years,” said Styler.  The Logix namerepresents “one of many steps we are taking to positively positionthe credit union for sustained, healthy growth for the next 75years.”

Lockheed FCU, with 11 branches in Los Angeles and Venturacounties, has 105,000 members and is the largest financialinstitution headquartered in Los Angeles' San Fernando Valley.

Styler said that he has long thought the Lockheed name carriedenough branding weight, but found that the public still thinks youhave be an employee of Lockheed to be a member.

“Even with all the advertising we do, the reader sees the nameLockheed and does not bother to read the copy,” said Styler.

Because of the sensitivity of a name change, Lockheed has beenrolling out the notices to members in phases. The first 30,000members will got an email notices last week “and depending onreaction we get at our call center, we'll send out the remainderlater on,” he said.

While some members understand management motivation “and thebarriers to growth, there are some who are sad and emotional aboutthe change,” said Styler.

To accommodate the sensitivities and to recognize history, onechange, he said has been to allow images of Lockheed aircraft toremain on debit and credit cards.

Styler declined to put a price tag on the marketing andrebranding project but said the signage will be ready by the July 9kickoff date.