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Legacy Bank

Legacy Bank Banks the Unbankable
Legacy Bank Banks the Unbankable

In October of 2001, Kathy Varga, a First Accounts customer with Legacy Bank, filed for bankruptcy. As a result, it became particularly difficult for Varga to find a bank that would take her based on her credit history. She was simply treated as though she had done something wrong and that she was poor. Not only was this a difficult personal experience, but, for an entire year she did not have a checking account and was very inconvenienced as a result. She had to resort to purchasing money orders to pay bills and cashing checks at check cashing entities. The inconvenience of this situation became financially inefficient as well. As a community outreach employee of Legacy Bank, Ms. Margaret Henningsen came to Varga’s place of employment and informed her and her coworkers of Legacy’s financial products. As a result, Varga and her coworkers were given a second chance at participating in the financial market. Varga recalls, “I am 25 and am not poor. I am not rich but not poor. I have been at my place of employment for 7 years. Ms. Margaret came to my place of employment and informed us of what her bank has to offer for people like us. Meaning, people that really need a second chance.” The next day she opened a checking account at Legacy Bank. This experience was possible due to Legacy’s First Accounts participation and their Financial Liberty Accounts. “I like Legacy Bank because of the very friendly staff, the understanding and helping of different situations that arise in one's life, feeling safe - every time I come to the bank the security guard greets me and makes sure I am safely in my car.”

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