MyGreek vs LegFi

What is LegFi?

LegFi (short for Legacy Financial) is a fraternity and sorority financial management platform, founded in 2007, that helps chapter treasurers bill members, collect dues, and manage expenses. In 2018 it was acquired by OmegaFi, and it still operates under the Legacy Financial name today, which makes it an established but legacy option in the space.

Getting set up on LegFi

Getting started on LegFi means reaching out to their sales team and signing a contract before your chapter can begin. The platform is built on late-2000s foundations with updates layered on since, so the experience feels more traditional than a tool built from scratch in the modern era.

How LegFi billing works

LegFi organizes dues billing as Invoices, which contain line items sorted into Revenue Categories. To bill members, a treasurer:

• Creates a new invoice and manually adds the members to charge
• Adds each charge with a title, one-time or recurring setting, amount, description, financial account, revenue category, and billing schedule
• Sends the invoice once every charge is added

For budgets, treasurers head to Finances, open Budgets, set a date range, and enter revenue and expenses month by month, managing categories as they go.

LegFi pricing and fees

LegFi costs between $2 and $4 per member per month, which works out to roughly $720 to $1,440 a year for a 30-member chapter. On top of that, card processing runs about 3.15% for credit and 3% for debit. The catch most treasurers run into: LegFi does not let you pass those processing fees to members automatically, so the chapter absorbs them unless you go back and re-charge each payer by hand.

Is LegFi worth it?

LegFi is a consolidated, treasurer-focused platform that has historically done a good job keeping crowdfunding and chapter finances in one place. But it is paid, contract-based, dated, and now an OmegaFi-owned legacy product, which is exactly why so many chapters weigh it against a modern, free alternative like MyGreek. Here is how the two compare.