In 1941, both Calgary Firefighters and Calgary Terminal Credit Unions were founded. Even from this early stage there was cooperation between the two Credit Unions as the founding fathers of Calgary Terminal Credit Union Ltd. lent support in founding the Calgary Firefighters Credit Union Ltd.
On June 5, 1981 the location on 12th Avenue was opened by the Calgary Firefighters Credit Union and in 1987 the Calgary Firefighters and Calgary Terminal Credit Unions merged.
The name was officially changed from Calgary Firefighters Credit Union to Legacy Savings & Credit Union Ltd. in July of 1999. In the fall of 2009, Legacy Savings & Credit Union moved to their new location at 1940 – 9 Avenue S.E.
In June 2015 members from both Legacy Savings and City Plus Credit Union unanimously voted in favour of merging the Credit Unions. On November 1, 2015 the Credit Unions merged the banking systems and officially became known as Legacy Savings and Credit Union Ltd.