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Legacy Member
A legacy member is a long-time member of a credit union, with family membership often spanning multiple generations.
More Details
A legacy member is a member of an organization or group who has a long history of involvement or has made significant contributions to the organization. The term "legacy" typically refers to something that has been passed down from the past, and a legacy member is often someone who has been associated with the organization for a long time or who has played a key role in its development.
Example
You are a third-generation member of MCU and have been a part of our community your entire life. You are a valued legacy member of MCU.
Related Terms
Inactive Account
A financial account that has not had any activity or transactions for a long period of time.
Collateral
Property or assets offered as security for a loan. If the borrower defaults, the lender can seize the collateral to recover the value of the loan.
Account History
A history of a customer's deposits, withdrawals, and payments over a specified period of time.