Savings

Savings (Share) Account

Your Savings Account (also referred to as a Share Account) provides the foundation of your membership.  With a minimum initial deposit requirement of only $5, your Savings Account establishes membership with us and enables you to take advantage of our many financial services.

Deposits can be made in person with any of our Member Service Representatives, by mail, night depositories at both of our locations, direct deposit with your employer, or wire transfer into your savings account.  You may also transfer funds from another deposit account at Your Legacy Federal Credit Union to your savings account.

Secondary Savings Account

A Secondary Savings Account offers an excellent way for you to save for special needs, such as a vacation or planned purchase.  A Secondary Savings Account provides a way to successfully achieve your financial goals.

Christmas Club Account

Save for the holidays throughout the year with a Christmas Club Account.  As with a Savings Account and a Secondary Savings Account, this special savings account also earns interest (also referred to as dividends) and includes the convenience of weekly, bi-weekly, semi-monthly, or monthly deposits either in person or electronically.  The funds accumulated in your Christmas Club Account are normally disbursed to you annually in the month of October.

Trailblazer Account

A Trailblazer Account is a youth account made available for children ages 0-12 .  Deposits to a Trailblazer Account earn interest at a rate higher than a regular Savings Account.  At age 13, the account is converted to a regular Savings Account, or the funds may be converted to a Certificate of Deposit.

Money Market Account

A Money Market Account offers a reward for higher account balances.  No interest is paid on average daily balances of less than $500; however, interest is paid based on balances between $500 – $24,999, $25,000 – $49,999, and $50,000 and above.  The higher the average daily balance maintained, the higher the interest rate.  The minimum withdrawal is $100, and withdrawals are limited to a combination of six withdrawals and transfers per periodic statement, as with our Savings Accounts, Secondary Savings Accounts, and Christmas Club Accounts.

Certificate of Deposit (Share Certificate of Deposit)

A Certificate of Deposit provides you with the opportunity to earn higher rates of interest by choosing a commitment to a term of deposit.  The longer the term of your investment, the higher the rate of interest that is paid to you.  Terms range from six months to sixty months.

IRA (Individual Retirement Account)

Your Legacy Federal Credit Union has two investment vehicles in both our Traditional IRA and our Roth IRA.  You may elect to save for retirement by deposits into a savings account designated as an IRA or by purchasing Certificates of Deposit (all referred to as Share Certificates of Deposit). The interest rate on an IRA Regular Savings is the same rate that is paid on a Regular Share Account, Secondary Savings Account, and Christmas Club Account. The interest paid on IRA Certificates is dependent upon the term of the Certificate of Deposit.  Terms between six months and sixty months are available.