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Q: What differentiates a credit union from a traditional bank?
A: Banks are generally shareholder-owned so they’re driven by profit and are meant to benefit the shareholders. Credit unions are not for profit and are meant to benefit their members. Customers become members and part owners when they open an account here (and) 100 percent of our profits are returned to them in the form of better rates, lower fees and improved services.
Q: What can you tell us about your history?
A: We started out as a credit union just for Lockheed employees and their family members (as the Lockheed Aircraft Employees Federal Credit Union) in 1937. It’s been 30 years since we have been open to the public and over 80 years of serving members.
Q: In what ways does your branch get involved with the community?
A: We do quite a bit of community support, especially with schools. We’ve supported the Thousand Oaks High School softball, baseball, boys’ basketball and girls’ water polo teams, Westlake High School basketball team, Los Cerritos Middle School and the Odyssey of the Mind program. We also support Hospice of Conejo Valley and are a member of the Greater Conejo Valley Chamber of Commerce.
Q: What do you love about working in Thousand Oaks?
A:The community has embraced us and allowed us into their family. We are not just another bank or lender, but we are working for them to help improve their overall financial picture. As well, this community is close-knit and we get a lot of member referrals.
Answers provided by Thousand Oaks branch manager Nancy Nuno, who’s been with Logix for five years and in the T.O. office for four.