First South Financial

Overview / Commentary
2723 Summer Oaks Dr
Bartlett, TN 38134

First South Financial is headquartered in Bartlett and is the 8th largest credit union in the state of Tennessee. It is also the 499th largest credit union in the nation. It was established in 1957 and as of March of 2020, it had grown to 129 employees and 67,531 members at 17 locations. First South Financial has an A+ health rating.

Field of Membership Restrictions

First South Financial Credit Union of Tennessee is open to those who live, work, attend school or worship in Shelby, Tipton, Fayette, Dyer, Madison, DeSoto, Marshall, Tate, and Tunica counties in Tennessee.
See current membership details

I Love First South!

I have been banking with First South for close to 13 years! They have an amazing call center and branch staff who provide excellent customer service. I do all my banking with First South and could not be happier!

A Great Credit Union

Posted by: |

I love this credit union! I have been using it for about 5 years. In that time, I have only once been charged a fee. That is when I let my checking account balance dip below $200. Checking accounts are free if you maintain a balance of $200, which is very nice. I also have a savings account there. It has several branches in my city and the suburbs and it has ATM machines for 24 hour access. It offers easy transfers between accounts. The only strange thing I found was the lack of deposit slips. If I want to make a deposit, I can either do so at the ATM or at the teller's window. I just give them the money or the check and tell them which account it should go in. I have had no issues with this credit union whatsoever. Setting up my account was easy and the tellers are very friendly. It has great reviews and has been in business for a long time.

Tanya Austin

Just had the most rude lady ever “assisting” me with my account. I was totally insulted. She should NOT be working customer service. Not to mention I feel that this credit union has robbed me of $144!
After reading their Facebook reviews, I see that this is a systemic issue and common practice.
I will be changing my direct deposit IMMEDIATELY! MIlitary... don’t waste your time or business with this establishment! I will definitely be informing all of my junior troops troops that are newly reporting to this area. Beware. Seek a different banking establishment.


First of all, customer service at the branches is severely lacking. I've visited most of the branches and can say that the branch managers at Collierville, Highland, Cordova and Bartlett are some of the rudest ladies I have ever encountered. They discuss personal business and use curse words constantly. Not sure how they remain employed.
Secondly, their average member probably has a less than 500 credit score yet they only lend to those with 780+ credit score (this was told to me by a FS employee). How is that a credit union helping its members? It's definitely not.
Thirdly, their CEO has a million-dollar home and makes millions a year, while their tellers make $11/hour and work 6 days a week. Must be nice to be at the top.
Finally, $12/month service fee for a checking account?!?! Are they COMPLETELY out of touch with reality when I can go next door and open an account for free, with no minimum balance required?
As my subject said, stay as far away as you can. They need to just start over...from the top down.



Health Grade Components

NCUA #68084
Year Chartered1957
Primary Regulator
Profit Margin
Return on Assets - YTD1.64%
Return on Equity - YTD5.56%
Annual Interest Income$4.7MM
Assets and Liabilities
AssetsQ1 2020vs Q1 2019$638.5MM$588.9MM
LoansQ1 2020vs Q1 2019$314.9MM$337.7MM
DepositsQ1 2020vs Q1 2019$444.6MM$405.2MM
Equity CapitalQ1 2020vs Q1 2019$185.4MM$172.1MM
Loan Loss AllowanceQ1 2020vs Q1 2019$14.4MM$14.2MM
Unbacked Noncurrent LoansQ1 2020vs Q1 2019$616.00K$662.00K
Real Estate OwnedQ1 2020vs Q1 2019$0$28.00K

Rates for First South Financial are currently being reviewed.



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