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 607th largest credit union in the nation. It was established in 1955 and as of June of 2021, it had grown to 98 employees and 38,966 members at 8 locations. Legacy Community Federal Credit Union's savings rates are 10X the national average, and it boasts an A+ 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
Great Credit Union
Overall, a great local credit union. I would recommend them. Customer service in our local branch has always been exceptional.
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.
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.
The Worst Credit Union
I was a checking and savings account member for 7 years.
I wish I never joined this credit union because of the inexplicable overdraft fees, no alert system for low balance, mysterious automatic account payments, and the poor customer service.
Do yourself a favor and consider a different credit union.
Data as of Q2 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24421 |
| Year Chartered | 1955 |
| Employees | 98 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.39% |
| Return on Equity - YTD | 3.85% |
| Annual Interest Income | $6.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2021vs Q2 2020 | $592.6MM$540.9MM |
| Loans | Q2 2021vs Q2 2020 | $337.0MM$329.9MM |
| Deposits | Q2 2021vs Q2 2020 | $528.1MM$475.4MM |
| Equity Capital | Q2 2021vs Q2 2020 | $60.4MM$60.7MM |
| Loan Loss Allowance | Q2 2021vs Q2 2020 | $740.00K$813.00K |
| Unbacked Noncurrent Loans | Q2 2021vs Q2 2020 | $403.00K$532.00K |
| Real Estate Owned | Q2 2021vs Q2 2020 | $0$0 |