After a year on the drawing boards, the $3.3 billion Lockheed Federal Credit Union will become Logix FCU on July 9, a name change reflecting a lessening of formal ties to its original corporate sponsor.
Burbank-based credit union changing name this summer after 75 years, says change should eliminate confusion over who can join.
The 107,000-member, $3.2 billion Lockheed FCU has signed on with CO-OP Financial Services for credit card processing.
Lockheed had a credit card portfolio of roughly 36,000 active accounts worth roughly $115 million in outstanding balances as of the end of 2011.
Four of five were former Lockheed FCU employees, including vice president billed for $832,000 in restitution.