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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
Foreclosure
The legal process by which a lender repossesses a property when the borrower fails to make their mortgage payments.
Credit
The ability to borrow money or to purchase goods or services on the promise of future payment.
Federal Deposit Insurance Corporation (FDIC)
A US government agency that protects depositors by providing deposit insurance to banks and other financial institutions.