The following is an open letter from our Dave Styler, president and CEO of Logix Federal Credit Union (formerly known as Lockheed FCU):
For the past 78 years, it has been our privilege to serve our members’ financial services needs from our headquarters in Burbank. During this time, we have grown from a small credit union serving only employees of the Lockheed Aircraft Corporation, to an institution with over 150,000 members and $4 billion in assets.
As our membership has grown, our employee family has grown as well, all focused on providing excellent service and value to every member. We are grateful for the trust placed in us by our members, and the rapid growth from members referring their family and friends to Logix.
After 27 years in our current headquarters building, we have reached the point that we need a larger facility to accommodate our expanding employee population. In fact, we were already forced to lease an additional 12,000 square-foot facility in Burbank, to house our Contact Center.
After careful analysis of costs to expand on our current headquarters property, as well as evaluation of alternate locations, we determined our best long-term option is in Santa Clarita. We recently purchased a 12-acre vacant parcel near the junction of the I-5 and State Highway 126, and will soon begin construction of our new headquarters at that location.
As part of these plans, to accommodate growth over the next three years, and since we intend to sell our current headquarters facility, we will relocate the Burbank branch to two new locations within the next year. We are currently looking for available lease space in the downtown Burbank and Toluca Lake areas, and we believe members will find the new branch locations convenient and accessible.
Construction of our new headquarters facility will take up to three years, and we will remain in our current Burbank headquarters until that time. As mentioned, the Burbank Branch will relocate within the next year, and we will provide routine updates on those plans, so members know what to expect.
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