Legend Microfinance Bank Nigeria Limited was originally established in 1992 as Inisa Community Bank Limited – a Limited Liability concern with Registration Certificate number 205591. The company was established to carry out grassroots banking business within Odo-Otin Local Government Area of Osun State.

In 2008, the Central Bank of Nigeria licensed it as a Microfinance outfit in compliance with the Federal Government of Nigeria policy on Micro Credit – Licence Number 000102 of December 2008. It was one of the community banks that successfully converted into a full-fledged Microfinance bank in Osun State.