Located in Allen Township, Macy was named after David Macy who was once president of the Indianapolis, Peru and Chicago Railway. Macy was laid out in 1860 when the railroad arrived there and was originally named Lincoln, however the name was changed to avoid confusion in the mail system because there was also a Lincoln in neighboring Cass County.

Macy was home to Ruth Riley, a center in the WNBA who retired in 2014.

The Lane Sisters, a famous singing and acting trio who gained popularity in the 1930's, were born in Macy. Lola Lane, who played a fictional reporter named Torchy Blane in one of her movies, was the inspiration for Superman's girlfriend Lois Lane.