Legacy Bank Deposits

Checking Accounts:

From the most basic of banking needs to complex depository needs Legacy Bank has you covered. Our products are setup to maximize the value to our customers while not complicating the account structures or include hidden fees. For that reason we are often one of the lowest service charge structures in the market. Each account is designed for maximum efficiency depending on your usage.

Our products are also set up with our account users in mind. From mobile banking to ACH to internet banking we can offer multiple ways to manage and move your money. While offering an array of products, we also have employees trained to take care of your needs and specific issues. Personable customer-oriented staff offer our customers the best of both worlds. Big-time products with service only found in a hometown bank.

 

Consumer Checking Accounts:
Student Checking
A starter account with features for students
Simply Checking
A basic account with no minimum balance
(after $100 opening deposit)
E-Checking
A convenient account for those who are on the go
Legacy Checking
An account that rewards our established customers
Minimum Balance to Open $100 $100 $300 $1,000
Monthly Service Charge N/A N/A $15.00
if average daily balance falls below $300
$15.00
if average daily balance falls below $1,000
Interest Bearing N/A N/A N/A
Debit Card * $1 Non-Legacy ATM* ** *
Bill Pay $5 per month
Free Paper Statements $5 paper statement with images $5 paper statement with images
Checks Please ask about our check prices

* ATM Fee – you may be charged a fee from the ATM operator or network. Non-Legacy means an ATM that is outside Legacy Bank’s network or that is not Privileged Status.
** No Non-Legacy fee if direct deposit is set up. Non-Legacy means an ATM that is outside Legacy Bank’s network or that is not Privileged Status. You may be charged an additional fee from the ATM operator or network.

 

Business Checking Accounts:
Non-Profit Business
Great for churches, clubs & organizations
Small Business Checking
Ideal for DBAs & Sole Proprietorships
Small Corporations
Ideal for LLCs & Partnerships
Legacy Business Checking
Ideal for Public Funds
Large Corporations
Ideal for large companies
Minimum Balance to open N/A $100 $500 $1,000 $1,000
Minimum Balance to avoid monthly service charge N/A $100 average daily balance to avoid $10 monthly service charge $500 average daily balance to avoid $20 monthly service charge $1,000 average daily balance to avoid $15 monthly service charge N/A
Transaction Limitations N/A 25 free debits per month; $.25 per debit after 25 Based on average balance* N/A $.25 per item processed
Debit Card
Interest Bearing N/A N/A N/A Tier Based N/A
Bill Pay
Paper Statements ** ** ** **
Business Checks Please contact one of our locations for check prices

* Average balance $0-$2,000 = 50 free transactions per month; $2,000-$5,000 = 75 free transactions per month; $5,000-$25,000 = 100 free transactions per month; $25,000 and up = unlimited free transactions per month. $.25 per debit after free transactions.
**Paper statements with images are available, a $5 plus tax fee applies

Savings Accounts:

Holding money is often a major concern of many of our customers. How to do that effectively while giving our customers peace of mind is foremost on our priority list. Legacy starts with competitive rates for our account holders to earn interest while the funds sit. Couple that with the peace of mind that only comes with FDIC insured funds ($250,000 limit). Legacy is headquartered in Altoona, Iowa which means that our funds stay local and so does our commitment to our communities.

For customers over the maximum thresholds we offer multiple other products to protect your funds. From insured programs to government backed securities and funds, we are a one-stop shop for your savings needs.

 

Consumer Savings and Money Market Accounts:
Student Savings
A great way to start saving
IAUTMA Savings
A great way to save for the future
Regular Savings
A safe and secure way to save
Money Market
Maximize your potential
Minimum Balance to Open N/A N/A $200 $2,500
Minimum Balance Requirements No minimum balance required until the age of 18 No minimum balance required until the age of 18 Minimum daily balance of $200 Minimum daily balance of $2,500
Monthly Service Charge No monthly service charge until the age of 18 No monthly service charge until the age of 18 $5 statement cycle fee if below daily minimum balance $5 statement cycle fee if below daily minimum balance
Interest Bearing Tier Based*
Transaction Limits** Six free debits per month Six free debits per month Six free debits per month Six free debits per month

*Please contact a Legacy Bank location for rates
** $1 per debit after free debit transactions

 

Business Savings & Money Market Accounts:
Business Savings
A safe & secure way to save
Business Money Market
Maximize your earning potential
Minimum Balance to Open $200 $2,500
Service Charge $5 service charge if balance falls below $200 $5 monthly service charge if balance falls below $2,500
Transaction Limits 6 debits per month, $1 per debit after six 6 debits per month, $1 per debit after six
Interest Bearing Tier Based
Paper Statements

Certificates of Deposit:

Do you have funds that need to be held securely, with the backing of a bank and that offers competitive rates? Legacy Bank offers a multitude of ways to hold these funds while earning ongoing income. Our rates change weekly with many durations and price points to fulfill your individual needs. At Legacy we don’t believe in teaser products or rate confusion which can lead to a product that may not be right for our customers or delivers a higher degree of risk than what people are initially lead to believe. Come see a Legacy representative to see what we can do for you.

 

Retirement Accounts – Traditional and Roth

Both Traditional and Roth IRAs are tax beneficial accounts to save specifically for retirement. While Traditional IRAs defer taxes on contributions until they are withdrawn, Roth IRAs are the opposite, taxing contributions but allowing them to possibly grow tax-free. We offer fixed rate timed deposits or variable rate savings account options.

Traditional IRAs and Roth IRAs are both beneficial financial tools, but you should consult your tax advisor to see which would best fit your needs.
  • Team Member

    Sandy PedersonExec. Asst.
    IRA/CD Specialist

 

Deposit Services:

Products and services continue to change. At Legacy we believe in offering our customers a wide variety of tools to help manage their money. Internet & Mobile Banking, Remote Deposit Capture and Cash Management all are examples of products designed to allow you the flexibility to manage your funds. Every day we strive to enhance these areas by tirelessly working on new ways to engage our customers. Talk to a customer service representative about seeing what we have for you.

 

 

Digital Banking Features

 

Features iPhone Android Internet Banking
View account balance & history
Mobile check deposit
View Mobile Check Deposit(s)
Transfer money between accounts
Bill Pay
Person to Person Payment
View Account Statements
Find a nearby ATM
Branch location
Contact us

Read More on Digital Banking

 

Remote Deposit for Business
Make deposits quickly and securely without leaving your desk! Remote Deposit for Business from Legacy Bank can help you speed workflow, reduce expenses, improve cash flow, and eliminate trips to the bank. Remote Deposit for Business utilizes secure, web-based technology to capture check images and transmit them electronically to Legacy Bank for deposit. Call us today to receive your scanner and get signed up!
  • Team Member

    Josh BarberRetail Manager

  • Team Member

    Kaylie FieldsOperations

 

Cash Management

Running the many facets of a small business can be challenging and time consuming. Legacy Bank can help you improve your efficiency with the help of our various Cash Management Services. Our ACH department can help provide access to automatic payroll deposits, accounts payable services as well as electronic payments from your existing membership or customer base. Whether you are a small business, non-profit organization, government entity or other specialized business, let us sit down today and explore the options available to efficiently help your organization succeed.

Grand Lifestyles

The Grand Lifestyles Club is a distinctive and prestigious club that offers extra banking services and special benefits. Any valued customer of Legacy Bank who is 50 years of age or better may join this club.

When you join the Grand Lifestyles Club, you can take advantage of the special club package of extra banking services at Legacy Bank. You’ll also become eligible to participate in club trips, tours, events, and much more.  We know how important service is to you. Legacy Bank offers first class service with a personal touch. We take the time to get to know all of our customers. Feel free to call us anytime with questions about finances and club activities, or to give us comments on our various banking services.

How to Qualify – It’s easy to become a member. As a customer of Legacy Bank all you have to do is meet one of the following requirements and you’ll start enjoying the benefits of the Grand Lifestyles Club:

  • Maintain $1,500 in any Legacy Bank checking account
  • Maintain $5,000 in a combination of a Legacy Checking account, savings account, time certificates of deposit or IRAs

*Joint accounts qualify for any account owner 50 or better.  If members choose not to have accounts with the above minimum balance requirements there will be a $15 monthly fee.

Member Benefits – As a valued member of the Grand Lifestyles Club, you will receive the following special benefits:

1) Checking Account Grand Lifestyles Club members receive complimentary “club” checks plus no monthly service charge on your club checking account.

2) Bonus Rate on Certificates of Deposit The bank, from time to time, will offer special bonus rate promotions for a limited time to its members on designated Certificates of Deposit.

3) No Bank Charges on the Following:

  • Cashiers Checks
  • Direct Deposit Services
  • Notary Services
  • Account Reconciliation
  • Photocopy Services (limit of 5 per month)

4) No Annual Fee on Legacy Bank Debit Card  – Club members at Legacy Bank will receive a free Legacy Bank Debit Card with no annual fees. All new club members, if desired, will receive a transaction lesson on how to use their card.

5) Insufficient Funds Transfer – In the event that a Grand Lifestyles Club member’s checking account becomes overdrawn, checks would be paid by debiting the member’s savings account (with adequate funds) if a member would want to sign up for this service by completing the automatic transfer authorization form at a branch. Standard overdraft charges apply.

6) Grand Lifestyles Club Activities Grand Lifestyles Club members can participate in a variety of activities:

  • Tour and Travel Opportunities
  • Club Social Events
  • Personalized Banking Service in a Grand Style