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Thursday, Mar 28, 2024

Credit Union Banking On New Home

With a growing staff and no more room at its Burbank office, Logix Federal Credit Union decided to move its headquarters to a yet-to-be-constructed building in Santa Clarita. Chief Executive David Styler said the financial institution considered other options, including remodeling its current home at 2340 N. Hollywood Way. It also looked at other locations in that city and elsewhere in the San Fernando Valley, but couldn’t find space. “We found the best approach would be to sell this facility and to buy a piece of land in Santa Clarita and build a new building,” Styler explained. The relocation will take place in 2018. The new home will be located on 12 acres in the Valencia Commerce Center near where the 5 freeway meets state Route 126. Holly Schroeder, chief executive of nonprofit Santa Clarita Valley Economic Development Corp., said it was exciting to have a company of Logix’s caliber moving to the city and bringing good jobs. The land the credit union bought was one of the larger empty parcels in the commerce center. “That project is one of a couple of projects that has entitlements and is ready to build,” she said. The new headquarters will total 170,000 square feet. Logix has about 350 employees at its Burbank headquarters, a number expected to grow to 400 by the time of the move. The new headquarters will have capacity for up to 800. Logix was known as Lockheed Federal Credit Union until changing its name in 2012. Its Burbank headquarters comprises 75,000 square feet for offices and 6,000 square feet for its flagship branch. The new headquarters will not have a branch located in it because the location in an industrial park isn’t conducive to walk-in customers, Styler said. – Mark R. Madler

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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