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Overview / Commentary
6471 Stage Rd Ste 200
Bartlett, TN 38134-2847

First South Financial is headquartered in Bartlett and is the 8th largest credit union in the state of Tennessee. It is also the 478th largest credit union in the nation. It was established in 1957 and as of March of 2014, it had grown to 106 employees and 51,594 members. First South Financial has a A+ health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in Dyer, Madison,Shelby, Tipton and Fayette counties in Tennessee as well as DeSoto, Tunica, Tate & Marshall county in Mississippi. - See Details

Reviews (2)

A Fee-Happy Credit Union With Low Interest Rates On Deposits

I prefer credit unions over banks for their lower and fewer fees. I mostly chose to open an account at First South because they have locations that are convenient for me.

Unfortunately, I think I've ended up paying more fees at First South than any other bank or credit union I've used. Most recently, they've started charging members a 3% fee to deposit coins. The current annual interest yield on my share account is measly 0.07%. I have a bank account that pays over ten times that rate.

First South provides clear evidence that credit unions aren't always a better value than banks.

On a positive note, in my experience First South has a lot of young and attractive tellers to ogle while waiting in line. This might be the only reason I continue to maintain an account there.

A loyal customer for 7 years.

Being a loyal customer of First South Financial credit union for almost seven years, Id have to say that I have really enjoyed my experiences with them. They have convenient online banking that's easy for me to access my account and great customer service over the phone. Upon visiting one of their local branches I'm always greeted with very friendly service and every person there is always willing to assist me. Another reason I've enjoyed banking with First South Financial Credit Union is that they are always finding ways to improve their customers banking needs and since they have been so great to me I cant help but to recommend them to all my friends and family.


Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 First South Financial had $406,000 in non-current loans and owned real-estate with $132.93 million in equity and loan loss allowances on hand to cover it. This gives First South Financial a Texas Ratio of 0.31% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for First South Financial experienced no significant changes from 0.20% as of March 31, 2013 to 0.31% as of March 31, 2014, resulting in a negative change of 55.83%. This indicates that the balance sheet and financial strength for First South Financial has had no significant changes in recent periods.

Deposit Growth


In the past year, First South Financial has increased its total deposits by $13.68 million, resulting in 4.09% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth First South Financial has shown is excellent.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. First South Financial has $476.34 million in assets with $132.93 million in equity, resulting in a capitalization level of 27.91%, which is excellent.

Institution Statistics

NCUA #68084
Year Chartered1957
Primary Regulator
Assets and Liabilities
Assets$476.34 million
Loans$223.87 million
Deposits$348.18 million
Equity Capital$120.73 million
Loan Loss Allowance$12.21 million
Unbacked Noncurrent Loans$362,000
Real Estate Owned$44,000
Historic Data - March 2013
Assets$455.43 million
Equity Capital$111.94 million
Loan Loss Allowance$11.54 million
Unbacked Noncurrent Loans$362,000
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets1.66%
Return on Equity6.54%
Interest Income$2.62 million

Always verify rates and promotions with the bank or credit union. We are not First South Financial, we are a rate comparison website and can not provide official rates or promotions.

First South Financial Savings Account Rates

0.10%$20k-Health Savings Accounts
0.10%$20k-Prime Savings
0.07%--Vacation Savings Club
0.07%--Christmas Club
0.05%$1k-Savings Plus

First South Financial Money Market Rates

0.35%$100k-Money Market Account

First South Financial Checking Account Rates

0.05%$1k-Interest Checking

First South Financial CD Rates

1.16%$50k-60 Month CD
0.85%$50k-36 Month CD
0.85%$50k-48 Month CD
0.70%$50k-24 Month CD
0.70%$50k-30 Month CD
0.55%$50k-12 Month CD
0.55%$50k-18 Month CD
0.40%$50k-6 Month CD
0.30%$50k-3 Month CD
0.15%$100$10k6 Month Build-it CD
0.10%$100$10k3 Month Build-it CD

First South Financial IRA Rates

1.16%$50k-60 Month IRA
0.85%$50k-36 Month IRA
0.85%$50k-48 Month IRA
0.70%$50k-24 Month IRA
0.70%$50k-30 Month IRA
0.55%$50k-12 Month IRA
0.55%$50k-18 Month IRA
0.40%$50k-6 Month IRA
0.30%$50k-3 Month IRA

First South Financial has 15 locations. Click to view all First South Financial locations.