Legacy Community Federal Credit Union


Overview / Commentary
205-930-5000
1400 South 20th Street
Birmingham, AL 35255

Legacy Community Federal Credit Union is headquartered in BIRMINGHAM and is the 14th largest credit union in the state of Alabama. It is also the 625th largest credit union in the nation. It was established in 1955 and as of March of 2024, it had grown to 113 employees and 39,485 members at 9 locations. Legacy Community Federal Credit Union's savings rates are 10X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership in Legacy Community Federal Credit Union is open to those who live, work, worship, or attend school in Bibb, Blount, Chilton, Jefferson, Shelby, St. Clair, or Walker Counties in Central Alabama.
See current membership details

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

Posted by: |

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.

Bought My Credit Union, Changed CD Terms!

Posted by: |

This is a cross-review with the credit union that Legacy bought out - 1st Resource Credit Union in Birmingham, AL:

I have a couple of certificates with 1st Resource. They are ADD-ON certificates. However, Legacy credit union CHANGED THE TERMS. No longer am I able to add funds to these existing CDs per customer service.

I've read on this site that this happens from time to time. If they change the terms then I should AT LEAST be able to break the CD without penalty.

Legacy Community Federal Credit Union

Posted by: |

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.

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Health
B+

Health Grade Components

Overall
NCUA #24421
Year Chartered1955
Employees113
Primary Regulator
Profit Margin
Return on Assets - YTD0.22%
Return on Equity - YTD2.1%
Annual Interest Income$6MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$656.9MM$656.5MM
LoansQ1 2024vs Q1 2023$402.9MM$388.6MM
DepositsQ1 2024vs Q1 2023$581MM$588.5MM
Equity CapitalQ1 2024vs Q1 2023$67.5MM$62.1MM
Loan Loss AllowanceQ1 2024vs Q1 2023$1MM$832K
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$1.7MM$966K
Real Estate OwnedQ1 2024vs Q1 2023$0$0
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.00%*$0$10kIncentive Savings
OTHER TIERS: 0.25% $1k+
0.50%*$100k*-Daily Share Balance
OTHER TIERS: 0.10% $100 - $2.5k | 0.35% $2.5k - $40k | 0.45% $40k - $100k
0.50%*$100k*-Club IRA Balance
OTHER TIERS: 0.10% $100 - $2.5k | 0.35% $2.5k - $40k | 0.45% $40k - $100k
0.10%$0-Christmas Club Account
0.10%$0-Regular Club Account

Legacy Community Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.50%*$100k*-Preferred Money Market
OTHER TIERS: 0.05% $0 - $10k | 0.45% $10k - $25k | 1.00% $25k - $100k

Legacy Community Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%$0$15kEngage Checking

Legacy Community Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.50%$500-6 Month CD
4.50%$500-12 Month CD
4.50%$500-13 Month CD
4.50%$500-5 Month CD
4.50%$500-9 Month CD
2.90%$500-60 Month CD
2.80%$500-48 Month CD
2.70%$500-36 Month CD
2.60%$500-30 Month CD
2.50%$500-24 Month CD
2.50%$500-25 Month CD
2.40%$500-18 Month CD
2.40%$500-15 Month CD
0.50%$500-91 Day CD

Legacy Community Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.50%$500-6 Month IRA
4.50%$500-12 Month IRA
4.50%$500-13 Month IRA
4.50%$500-5 Month IRA
4.50%$500-9 Month IRA
2.90%$500-60 Month IRA
2.80%$500-48 Month IRA
2.70%$500-36 Month IRA
2.60%$500-30 Month IRA
2.50%$500-24 Month IRA
2.50%$500-25 Month IRA
2.40%$500-18 Month IRA
2.40%$500-15 Month IRA
0.50%$500-91 Day IRA
Locations


Legacy Community Federal Credit Union Locations
Branch Office200 Corporate RdgBirmingham, AL 35242-2948
Branch Office810 Colonial Promenade PkwyAlabaster, AL 35007
Branch Office1920 4th Ave SBirmingham, AL 35233-2014
Branch Office6001 Service RdBirmingham, AL 35235-2179
Branch Office9825 Parkway EBirmingham, AL 35215-7301
Branch Office701 Princeton Ave SWBirmingham, AL 35211-1303
Branch Office1400 20th St SBirmingham, AL 35205-4914
Branch Office1880 Chace DrHoover, AL 35244-1825
Branch Office47 W Oxmoor RdBirmingham, AL 35209-6409

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