High-Yield Reward Checking Account at Legacy Community FCU in Alabama - Local Only


Update: The rate and balance caps have fallen. Please refer to the bottom of the post for the rate history.

Legacy Federal Community FCU is offering a reward checking account called Premier Checking. The account has the following rates and features if certain monthly requirements are met (as of 4/9/2012):

  • 2.00% APY on balances up to $15,000
  • 0.50% on portion of balances above $15,000
  • 0.25% base rate if qualifications are not met
  • Refunds ATM fees nationwide up to $20 per cycle

The monthly requirements include:

  • 12 debit card purchases
  • One direct deposit or automatic payment
  • Access online banking
  • Receive electronic statements

Additional features of the account regardless of the monthly requirements include:

  • No minimum balance requirement
  • No monthly service charge

Membership is open to anyone who lives, works, worships, or attends school in the 7-county Birmingham-Hoover Metro area. Refer to the membership link at the credit union's home page for more details.

The credit union's ratings for safety and soundness are strong: 5 stars (superior) at BauerFinancial and 4 stars (sound) at Bankrate.com. The above rates are based on 3/31/09 financial data. The credit union is federally insured by the NCUA (Charter # 24421).

Other Reward Checking Accounts

To find reward checking accounts in other areas of the nation or to learn more about these accounts, please refer to my High Yield Checking website.

Rate History:

  • 04/06/11: 2.00% APY up to $15K
  • 12/01/10: 2.50% APY up to $25K
  • 07/01/10: 3.00% APY up to $25K
  • 08/09/09: 4.00% APY up to $25K; 0.50% over; 0.25% base
rjm (anonymous)   |     |   Comment #1
There is also a $25 bonus deal for opening a new checking account and the rep told me that I could do both.

But, they do NOT waive the requirements for the first month.

That is, if I open an account today and it takes 10 days to get the debit card. I have to hurry to do the 12 transactions.

Its local so I plan on going in this week. Hopefully today if my wamu/chase CD proceeds ever come.

They SAY they sent the check on the 26th. Somehow, I dont have it yet. And the darn thing ended on the 22nd.

Nice way to STEAL a months worth of interest.

If it wouldnt hurt my credit score, I would CANCEL both my credit cards with them.
60-Month CD at Legacy Community FCU in Alabama - Local Only

Update: The rates have fallen. Please check the credit union's website for the latest rates.

Legacy Community Federal Credit Union is offering a competitive rate of 3.75% APY for a 5-year certificate. Minimum deposit is $500, and it's also available in an IRA CD. The shorter term CDs are not nearly as competitive. This 3.75% APY is listed in the credit union's certificates rates page as of 10/08/09.

The credit union continues to offer 4.00% APY on balances up to $25,000 in its Legacy Premier Checking Account. This is a reward checking...

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5.90% 5-Month CD at an Alabama CU (Legacy FCU)
Legacy Community FCU is offering a 5.90% APY 5-month certificate of deposit. The minimum is $500. The rate is available for both a regular and IRA CD. A branch visit is required to open an account.

The field of membership includes anyone who lives, works, worships, or attends school in the 7-County Birmingham-Hoover Metro area. That includes the Central Alabama counties of Jefferson, Shelby, Blount, St. Clair, Walker, Chilton and Bibb. Membership requires a $25 deposit into a savings account.

The credit union is NCUA insured. It has $189 million in...

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