Legacy Community Federal Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | HOW THEY COMPARE |
|---|---|---|
| 2.00% | Reward Checking | 2.09% - National Average |
| 2.85% | 5-year CD | |
| 1.50% | 1-year CD | 2.65% - Barclays 12 Month Online CD |
Legacy Community Federal Credit Union is headquartered in BIRMINGHAM and is the 12th largest credit union in the state of Alabama. It is also the 632nd largest credit union in the nation. It was established in 1955 and as of September of 2018, it had grown to 111 employees and 38,986 members at 9 locations. Legacy Community Federal Credit Union's CD rates are 67% higher than the national average, and it has an A health rating.
Field of Membership Restrictions
Membership is open to those who live, work, worship, or attend school in Jefferson, Shelby, Blount, St. Clair, Walker, Chilton, and Bibb Counties in Central Alabama.
See current membership details
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Legacy Community Federal Credit Union
Legacy Community Federal Credit Union in Birmingham, Alabama has been my credit union for over 25 years. I have had my paychecks direct deposited there since I graduated college in 1992. Legacy offers local banking with very reasonable fees, and the atmosphere inside the main branch is welcoming and is a very relaxing environment in which to do my business.
The one drawback that I have with Legacy is the terrible rate of return on deposit accounts (Savings, Checking, Money Market, CDs, IRAs). That is why I do not save large sums of money at Legacy Federal Credit Union, preferring, instead, to utilize online banking opportunities. In other words, I just use Legacy for clearing my checks and paying my bills. All other savings are then funneled to my online savings accounts.
Great credit union!
I've banked with Legacy for 5 years now. I opened the account at the suggestion of my friend at a car dealership when I was buying a used car. If I was a member I could get a really low rate. So I deposited 50 dollars into a savings account and was able to get the rate for the car I was buying. I ignored the open savings account for at least a year until I realized they were offering a 2% interest rate on checking which is higher than a lot of CD products, so I switched over 90% of my paycheck to the credit union. Since then, I've started using the credit union as my primary bank. I love the Credit Union experience.
I Like It, As Advertised
Good rewards system (2% interest checking). The staff are friendly. Been using this for about a year. ATM rewards have happened without a hitch. I use ACH from a different bank which quals for direct deposit. I do a bunch of $1 payments for my internet payment which counts as my required transactions. Overall, good stuff and I'm happy. No issues and convenient locations for me in Birmingham, AL.
Overdraft Fees And Transfer Problems
Please tell me why Legacy only allows 6 online transactions per month? If you have computer banking why only 6? Also why do they transfer 3.00 at a time from your savings when you are about to overdraw and then charge you 3.00 to do it? Is this a ploy to use up your 6 transactions because even if you have money in your savings to cover any overdraw they will not transfer any more money after 6 transfers have been made(these include any you have already made) and will then start charging you 36.00 per overdraw regardless of how much money you have in savings which is supposed to be linked to your checking. I really don't want a useless 3.00 transfer if it's going to use up one of my 6 transactions and I'm going to be charged 3.00 for the service. I discussed this practice with my coworkers and no one could believe the way they handle their online banking.The consensus was why have online banking if it's so limited and how ineffective their overdraft protection was. I'm starting to wonder if this isn't just another way for them to insure fees without being as obvious a bigger banking institutions as they tout themselves as being smaller and more about their customers. If they were really about their customers they would figure out a better solution for their overdraft protection and their computer banking.
Data as of Q3 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24421 |
| Year Chartered | 1955 |
| Employees | 111 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.6% |
| Return on Equity - YTD | 4.53% |
| Annual Interest Income | $9.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2018vs Q3 2017 | $421.7MM$425.8MM |
| Loans | Q3 2018vs Q3 2017 | $274.6MM$242.8MM |
| Deposits | Q3 2018vs Q3 2017 | $361.3MM$367.1MM |
| Equity Capital | Q3 2018vs Q3 2017 | $56.0MM$55.3MM |
| Loan Loss Allowance | Q3 2018vs Q3 2017 | $1.1MM$849.00K |
| Unbacked Noncurrent Loans | Q3 2018vs Q3 2017 | $568.00K$1.0MM |
| Real Estate Owned | Q3 2018vs Q3 2017 | $0$1.5MM |
Always verify rates and promotions with the bank or credit union. We are not Legacy Community Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
Legacy Community Federal Credit Union Savings Account Rates
Legacy Community Federal Credit Union Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.70%* | $50k* | - | Preferred Money Market | ||
| OTHER TIERS: 0.15% → $2.5k - $25k | 0.55% → $25k - $50k | |||||
Legacy Community Federal Credit Union Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 2.00%* | - | $15k | Premier Checking | ||
| OTHER TIERS: 0.50% → $15k+ | |||||
| 0.05% | $2.5k | $1m | Preferred Checking | ||
Legacy Community Federal Credit Union CD Rates
Legacy Community Federal Credit Union IRA Rates
| Legacy Community Federal Credit Union Locations | ||
|---|---|---|
| Branch Office | 2815 Greystone Commercial Blvd Ste 600 | Birmingham, AL 35242-2663 |
| Branch Office | 810 Colonial Promenade Pkwy | Alabaster, AL 35007 |
| Branch Office | 100 CORPORATE RDG STE 200 | BIRMINGHAM, AL 35242-2994 |
| Branch Office | 1920 4TH AVE S | BIRMINGHAM, AL 35233-2014 |
| Branch Office | 6001 Service Rd | BIRMINGHAM, AL 35235-2179 |
| Branch Office | 9825 PARKWAY E | BIRMINGHAM, AL 35215-7301 |
| Branch Office | 701 PRINCETON AVE SW | BIRMINGHAM, AL 35211-1303 |
| Branch Office | 1400 20th St S | Birmingham, AL 35205-4914 |
| Branch Office | 1880 Chace Dr | Hoover, AL 35244-1825 |