This year, we’re lighting the candles and celebrating a remarkable milestone – Legacy Credit Union’s 70th Anniversary! Since opening our doors in 1955 as University Credit Union, we’ve been committed to serving our members with care, dedication, and a vision for their financial success. What began as a small credit union for the UAB community has grown into a trusted institution proudly serving the Greater Birmingham Metropolitan Area, spanning seven counties. Over the years, we’ve evolved to meet the needs of our members while staying true to our mission of crafting financial solutions. Join us as we reflect on our journey, honor our roots, and celebrate the future we’re building together!

“In 1955, banking was not particularly accessible to the average middle-class resident of Birmingham,” said S. Glenn Bryan, Legacy’s President & CEO. In 1934, Congress passed the Federal Credit Union Act, which led to many credit union charters to serve various groups of employees. A group of employees at UAB, which at the time was not an independent university, saw the need to create a financial provider that could promote systematic savings and reasonably priced access to credit. The original nine UAB employees each invested $5 to provide the initial deposits for University Credit Union. At the end of 1967, the credit union reached $1 million in assets.

Flashforward to the early 2000’s, the Credit Union Movement had become larger, and overlaps in Fields of Membership were becoming very common. “While UAB was the largest employer in the state,” said Bryan. “The leadership of the Credit Union realized that with the growth in the industry and the overall growth in the Birmingham-Metro area, it would be imperative for the long-term health of the Credit Union to be in the best possible position to tap into the growth.” To promote growth and remain competitive, the decision was made to convert to a Federal Community Charter. This was approved at the end of 2003, and the name change to Legacy was approved by NCUA in 2004 (although it was not actually fully implemented until 2006). 

Emmett Colston, Vice President of Branch Operation said, “Throughout my career, I’ve had the privilege of witnessing the incredible dedication of countless Legacy employees. I could fill an entire book with stories of the commitment and care our employees have shown over the years.” Colston was then asked about the evolution of financial services and how it has impacted our members. “I started my career in the late 90s, I still remember when we used typewriters to create CDs.” He goes on to note that since then, Legacy has continuously invested in operational improvements that propel member engagement to new heights. He closed by saying he’s often “in awe when we sit at the table and discuss ‘what’s next?’”

As we celebrate 70 years serving Birmingham, we’re also focused on the next 70 years. When asked how we will continue to grow, Bryan said it boils down to two things: “hearts focused on service and minds set on growth. Everything we do begins with serving our members, our colleagues, and our community.” When discussing growth, the CEO said that growth “represents acceptance by our members and the communities we serve. Also leads to the scale that is imperative in today’s financial environment in order to offer high level technology, to meet the complex requirements of regulatory compliance, and to meet the costs of staffing and operation.” In closing Bryan said “sustainable service cannot happen without sustainable growth, and sustainable growth will not happen without sustainable service.”

As this year rolls on, we cannot wait to celebrate this milestone with our members. Whether it’s celebrating the opening of a new branch or helping a new member secure their first auto loan, we look forward to crafting financial solutions for the next 70 years.