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Share Certificate Accounts

Earn higher rates than regular savings when you leave your funds untouched for a term that matches your financial goals.

A family benefits from opening a Share Certificate account.

Benefits of Legacy Share Certificate Accounts:

Higher Earnings

Get a competitive APY* based on your chosen term length and watch your balance grow.

Range of Terms

Choose a term of 91 days to 60 months with longer terms offering higher rates.

Low Minimum

You can open an account with as little as $500 and there’s no maximum deposit.

Federally Insured

Your funds are insured by NCUA up to $250,000 and you don’t need to worry about the markets.

Why Open a Share Certificate Account or IRA Certificate?

There’s no reason to leave your money sitting in your checking or savings account when there’s a simple way for our members in Birmingham, Alabama to earn higher rewards.

All you need to do is invest a little bit of time into a Legacy Share Certificate Account or an Individual Retirement Account (IRA) Certificate.

  • Highly competitive dividends
  • A variety of terms from 91 days to 60 months
  • A minimum of $500 to open

It’s true there’s a penalty for early withdrawal, but that’s only to help you achieve your goals faster.

A couple goes on a trip using the earnings from their certificate account.

Legacy Credit Union Share Certificate Account Rates

Interest rates for our Share Certificates and IRA Certificates are generally higher than what you can get through other savings options. Another key feature of a Certificate Account is that your rate goes up when you choose a longer term.


It's Easy to Join Legacy Credit Union

Check You're Eligible

Check You're Eligible

You need to live, work, worship, or attend school in Jefferson, Shelby, Blount, St. Clair, Walker, Chilton, or Bibb county.

Open a Share Account

Open a Share Account

With a deposit of just $5, you can open a savings account and become a member of the credit union.

Enjoy Legacy Benefits

Enjoy Legacy Benefits

Access all our quality financial products and services plus member benefits and support from our team.


“I have been a member since the beginning and have always had good service.”

– Barbara W., Birmingham, Alabama

FAQs About Certificate Accounts

Legacy offers both Share Certificate and Individual Retirement Account (IRA) Certificate investment options to help our members in Birmingham, Alabama, make the most of their money. In contrast to unpredictable stocks and bonds, your funds are safely invested in other Certificates and earn guaranteed fixed rates.

  • Both accounts require a minimum deposit of $500 but a key difference is that a Share Certificate does not allow additional deposits while an IRA Certificate lets you add funds continually to save for your retirement.
  • A Share Certificate is also known as a Certificate of Deposit (CD). With a Term Share Certificate, you can access your funds when your chosen term ends, and you don’t need to pay any taxes or fees at that time.
  • An IRA Certificate is also known as an IRA CD. You may be penalized if you withdraw funds from an IRA Certificate before age 59 ½. Like a Traditional IRA, you’ll likely pay income tax on your withdrawals because contributions are often tax-deductible.
  • If you don’t withdraw funds at the maturity date, both types of Certificates will automatically reinvest your funds for the same term, or you can choose a different term based on current rates.
  • The National Credit Union Administration (NCUA) insures funds in both accounts up to $250,000.

Your choice of account will depend on your plans for the funds.

Choose a Share Certificate to help you achieve short- to medium-term goals. These may include:

  • Boost your existing savings by earning higher rates for your chosen term.
  • Lock away a nest egg to enhance your financial security.
  • Save for something specific like a car or home down payment, or a vacation.

Choose an IRA Certificate if your purpose is to boost your retirement savings. Keep in mind:

  • You can avoid the 10% penalty tax if you wait until you’re 59 ½ to withdraw funds.
  • You can often open an IRA Certificate in addition to a 401(k) or workplace plan.
  • You pay taxes on your withdrawals based on your income level at that time, so you can save money if you’re currently in a higher tax bracket and your contributions are tax-deductible.

Long terms earn higher rates so it makes sense to choose the longest term possible.

With a Share Certificate, you want to make sure you won’t need the funds before your term ends.

  • It’s a good idea to have a separate emergency fund rather than tying all your funds up in a certificate.
  • Choose a shorter term if you’re concerned about paying the early withdrawal penalty.

With an IRA Certificate, the idea is that your funds are continually reinvested in Certificates until you reach at least 59 ½ or until you reach retirement.

  • You will usually choose the longest term available so you get the highest rates.
  • You want to check current rates each time your term ends because there may be special rates on offer for specific terms.

Take Your Next Steps With Legacy Credit Union:

Apply Today
Call: 205-930-5000
Contact Us

More Ways to Save and Earn

Savings Share Accounts

Begin your credit union journey with a deposit of just $5. Once you open your account, you can access all our other products and services.

Learn More

Incentive Savings

Save effortlessly when we round up your debit card purchases to the nearest dollar and transfer the difference. Plus, earn a great rate on balances up to $1,000!

Learn More

Club Accounts

Save for a specific purpose like a vacation, the holiday season, Christmas, or a major purchase. Earn dividends and access your funds when the time comes.

Learn More
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