Interconnected Locks Add Convenience and Security to Credit Union
Customer Company Size
Large Corporate
Region
- America
Country
- United States
Product
- Axessor IP - Electronic Combination Safe Lock
Tech Stack
- TCP/IP network
- AES encryption
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Productivity Improvements
Technology Category
- Cybersecurity & Privacy - Network Security
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Cybersecurity
- Remote Asset Management
Services
- System Integration
- Software Design & Engineering Services
About The Customer
The Logix Federal Credit Union in California was founded as the Lockheed Aircraft Employees Federal Credit Union in 1937. It has maintained a perfect record of positive earnings since 1937, it’s rated A+ by Deposit Accounts, and ranks 38th on their America’s Top 200 Healthiest Credit Unions Report. Logix also holds a 5-Star rating for financial strength from Bauer Financial. And, it has made the Forbes “Best in State” list for credit unions for two consecutive years. The credit union has 17 branches located in California and provides an array of banking solutions to their members, such as various savings and checking accounts, loaning, investing, insurance, and much more.
The Challenge
Logix Federal Credit Union in California was facing a challenge with their traditional code management system. The system required codes to be sealed in an envelope and sent to the credit union’s headquarters. If an employee needed to float between branches, he or she would need codes for multiple branches. When an employee left, the lock had to be manually reprogrammed by a locksmith to remove the employee’s code. This process was not only costly but also decreased the level of security as codes were inactive in a lock that no longer had an employee assigned to it. Logix outlined several opportunities to improve efficiency and reduce cost. These included reducing service and locksmith charges, removing lock user management from the individual branch managers, allowing more users per lock in each location, and centralizing lock management with the Logix Security Team.
The Solution
The solution to Logix's challenge was the Axessor IP Electronic Combination Safe Lock. This lock integrates the latest technological advances and meets all recognized safety standards. Compared to the USB version, the IP-enabled Axessor® lock offers an extended scope of features and an optional extension, the eBox for connecting to a TCP/IP network for central control of all locks. The networking allows easy and resource-optimized management and monitoring of an unlimited number of locks. The widely used AES standards encrypt all network communication with a remote SDK or AS284 software. With the eBox, five additional input and output ports are available. The Axessor IP can efficiently manage up to 40 user codes remotely, access lock status and perform up to 10,000 audit events, and is powered through a network cable with battery backup.
Operational Impact
Quantitative Benefit
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