DEPOSIT ACCOUNTS
These types of accounts establish you as an 'Allegacy Owner' with only a $5 minimum balance requirement. Whether you choose the basic Daily Access or the YMCA linked AllHealth Wellness, both account types are subject to Reg D.
What are Savings Accounts?
This service offered to members includes features such as eStatements, Money Management, Webpay, and Welby.
What is Web Banking?
With low, prime-based rates, and limits up to $25,000, these "platinum" products allow you to make transactions online or in-person. The Signature Rewards option earns points on purchases which can be redeemed later for rewards; while the Secured option is a smart way to start building credit or improve your credit score.
What are Allegacy Credit Cards?
These personal savings plans offer specific tax benefits and are one of the most powerful savings tools for planning your future. Even if you contribute to a 401(K) or other plan at work, you should also consider investing in one of these.
What is an Individual Retirement Account (IRA)?
Whether a member is a first time buyer, shopping for the best rate options, or looking to refinance this department can help them with their home loan needs.
What is Mortgage?
Allegacy offers 3 types of these accounts. Digital Best is designed for a paperless and worry-free experience; Preferred offers members free checks; and Smartrate is eligible for premium dividends and ATM fee refunds.
What are Checking Accounts?
This service offers banking at your fingertips 24/7 with features such as imaged check deposits, electronic transfers, and Bill Pay.
What is Mobile Banking?
You may be looking for one of these types of loans or lines of credit to consolidate debt (Consolidation Loan), borrow funds to improve your life (Lifestyle Loan), or protect your Smartrate checking account from overdraft fees (Overdraft Line of Credit).
What is Personal/Unsecured?
Establishing one, or more, of these on deposit accounts ensures that upon the account owners' passing, the money remaining in the account will belong to these designated beneficiaries and will not be controlled by a Will.
What is Payable on Death (POD)?
This department delivers resources, tools, training, and individualized coaching related to budgeting, building credit, and managing debt to help inform and equip members to reach their financial goals.
What is Financial Education?
These types of accounts help members save money for holidays or vacations by not allowing withdraws throughout the year until the funds are automatically transferred to their primary savings account on either March 31st or September 30th.
What are Club Accounts?
You will be able to chat with a real person to cash checks, make a deposit, make an Allegacy payment, transfer funds, or withdraw cash all from your car with these easy, quick, and personal machines.
What are Interactive Teller Machines (ITMs)?
As a homeowner, you can borrow against this to consolidate debt, finance one-time expenses, or keep a lower-interest line of credit open for emergencies.
What is Home Equity?
This legal authorization gives a designated person, deemed the agent, the power to act for another person, known as the principal. The agent may be given broad or limited authority to make decisions about the principal's property, finances, investments, or medical care.
What is a Power of Attorney (POA)?
Whether a member is just starting to look ahead, navigating life changes, or trying to stay on track, this department can help them put together a solid plan and follow through with them to a future that lives up to their expectations.
What is the Investment Group?
This interest earning account can be opened with a minimum amount of $500 and an agreement from the member to leave funds on deposit for a certain period of time.
What is a Certificate of Deposit?
This free online education platform promotes financial wellbeing through a rich content library of short articles, videos, courses, and webinars that explore critical personal finance topics that can be customized to each user’s needs. This platform is available for both members and employees.
What is Enrich?
Whether you're shopping new, used, or even something with a little more miles (Extended Mileage), Allegacy can help you get on the road with one our auto loans that are offered with these 3 'peace of mind' products.
What is Guaranteed Asset Protection (GAP), Payment Protection (Life/Disability/Unemployment), & Mechanical Repair Coverage (MRC)?
This type of account is handled by an executor or court-appointed administrator to manage a deceased person's assets, pay debts, and to distribute money to beneficiaries.
What is an Estate?
This department strives to build relationships with organizations considered to be the "backbone of our economy" by understanding their business goals and providing loan, deposit, cash management, and payroll solutions.
What is Business Services?
These accounts are similar to savings accounts, but with the flexibility of a checking account. They typically earn a dividend rate that is higher than rates on savings or checking accounts because of their higher minimums to open.
What are Money Market accounts?
This online tool makes it simple to switch automated payments and direct deposits from other financial institutions to your Allegacy accounts in a just a click.
What is ClickSwitch?
If you’re well on your way to paying off your home, refinancing with this product may help rid you of that bill faster with terms up to 15 years, an 80% loan-to-value maximum, and little to no closing costs!
What is a Mortgage Eliminator?
You can leave property to your beneficiaries using this type of agreement, prepared by an attorney. The property outlined in the agreement passes directly to the beneficiaries according to the terms. There are 2 basic types: Revocable (or Living) and Irrevocable.
What is a Trust?
This department strives to deepen members' relationships with the credit union by focusing on their retail needs. This concierge level of service is a great option for individuals or business owners with high balances and/or net worth, but not necessarily looking to invest their assets elsewhere.
What is Private Banking?