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First South Financial

Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
1.26%5-year CD60 Month CD
2.35% - Synchrony Bank 60 Month CDAdvertisement
0.65%1-year CD12 Month CD
1.50% - Ally Bank No Penalty 11-Month CDAdvertisement
0.05%SavingsSavings Plus
1.30% - Goldman Sachs Bank USA Online SavingsAdvertisement
View all First South Financial rates »

Overview / Commentary
www.firstsouth.com
901-380-7400
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 494th largest credit union in the nation. It was established in 1957 and as of June of 2017, it had grown to 112 employees and 59,938 members at 15 locations. First South Financial has an A+ health rating.

Field of Membership Restrictions

First South Financial Credit Union of Tennessee is open to the residents, people that maintain employment, church members, and registered students within these qualified counties: Shelby, Tipton, Fayette, Dyer, Madison, DeSoto, Marshall, Tate, and Tunica.
See current membership details

Related Posts

$200 Checking Bonus At New Collierville Branch Only - 10/22/2016

Get $200 when you open a First South Financial checking account*Offer valid through 11/30/16Checking account must be opened with at least $50You must make at least 15 debit card purchases within the first 60 days the account is open$200 bonus will be paid 30 days after the account qualifiesAccount must be opened at our Collierville banking centerCollierville Only Specials - First South Financial

10% 1Yr CD & $200 Checking Bonus In Memphis Area - 10/21/2016

Grand opening specials at First South Financial Credit Union’s new Collierville location (accounts must be opened at this location by 11/30/16) 10% apy 1-year CD $1,000 max per household $200 bonus for opening checking account must be opened with at least $50 must make at least 15 debit card purchases within the first 60 days the account is open $200 bonus will be paid 30 days after the account qualifies Grand opening specials page link They also have a $50 direct deposit bonus and a $25 refer-a-friend bonus that are available at all locations. Promotion page link

Reviews (6)

Excellent Place To Bank

Posted by: threedogmom | Jul 10, 2015

Been banking with them for almost 19 years and have never gotten bad service. I was paying a monthly service fee to a bank for my checking account unless I kept $700 in it! Crazy! Theirs is much lower. Love to bank with First South Financial!

2

A loyal customer for 7 years.

Posted by: mandychandler | Aug 9, 2014

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.

4

Great for small depositors

Posted by: MatrixScoop | Sep 24, 2017

I have been a member of First South Credit Union since 2012 when I had to open an account after my aunt died. I needed a way to keep the funds from her estate separate from my bank account. After her estate was settled, I started my own account with them. What I like best about them is that you only have to keep a balance of $200 in checking to avoid any fees. Many times I have come close to this balance but I never got a fee except one time when I went under. But when I put more money in, it never happened again. It has good locations in my city with ATMs. The only strange thing is a lack of deposit slips inside. One has to go to the window and tell the teller whether you want to put the money in checking or savings. I haven't had any problems with them and I know my money is secure. They are also fast about transferring money from checking to savings or vice versa. I recommend them to my family and friends.

1

A Great Credit Union

Posted by: RickSY | Dec 7, 2016

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.

3

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

Posted by: mrcheapskate | Jan 9, 2014

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.

6

Horror At First South

Posted by: Suzy Deutsch | Nov 29, 2015

First South wrongfully transferred 100% of my funds and violated banking regulations around source of funds verification.

Its response: Errors happen.

Its errors. My legal expense. Months before I recovered any of my funds.

I highly recommend USAA, not First South.

2


Health
A+

Data as of Q2 2017

Learn why bank health matters

Health Grade Components

Overall
NCUA #68084
Year Chartered1957
Employees112
Primary Regulator
Profit Margin
Return on Assets - YTD1.93%
Return on Equity - YTD6.99%
Annual Interest Income$6.7MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$548.5MM$519.2MM
LoansQ2 2017vs Q2 2016$348.7MM$300.1MM
DepositsQ2 2017vs Q2 2016$385.3MM$369.7MM
Equity CapitalQ2 2017vs Q2 2016$151.4MM$140.6MM
Loan Loss AllowanceQ2 2017vs Q2 2016$12.3MM$12.6MM
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$517.00K$232.00K
Real Estate OwnedQ2 2017vs Q2 2016$56.00K$89.00K
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

First South Financial Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%*$20k*-Health Savings Account
OTHER TIERS: 0.05% → $200 - $3k | 0.07% → $3k - $20k
0.10%*$20k*-Prime Savings
OTHER TIERS: 0.05% → $200 - $3k | 0.07% → $3k - $20k
0.07%--Vacation Savings Club
0.07%--Christmas Club
0.05%$1k-Savings Plus

First South Financial Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.35%*$100k*-Money Market Account
OTHER TIERS: 0.10% → $2,500 - $15k | 0.15% → $15k - $25k | 0.21% → $25k - $50k | 0.25% → $50k - $100k

First South Financial Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$1k-Interest Checking

First South Financial CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.26%*$200k*-60 Month CD
OTHER TIERS: 0.30% → $500 - $10k | 1.11% → $10k - $50k | 1.16% → $50k - $200k
0.95%*$200k*-36 Month CD
OTHER TIERS: 0.30% → $500 - $10k | 0.75% → $10k - $50k | 0.85% → $50k - $200k
0.95%*$200k*-48 Month CD
OTHER TIERS: 0.30% → $500 - $10k | 0.75% → $10k - $50k | 0.85% → $50k - $200k
0.80%*$200k*-24 Month CD
OTHER TIERS: 0.25% → $500 - $10k | 0.60% → $10k - $50k | 0.70% → $50k - $200k
0.80%*$200k*-30 Month CD
OTHER TIERS: 0.25% → $500 - $10k | 0.60% → $10k - $50k | 0.70% → $50k - $200k
0.65%*$200k*-12 Month CD
OTHER TIERS: 0.20% → $500 - $10k | 0.45% → $10k - $50k | 0.55% → $50k - $200k
0.65%*$200k*-18 Month CD
OTHER TIERS: 0.20% → $500 - $10k | 0.45% → $10k - $50k | 0.55% → $50k - $200k
0.50%*$200k*-6 Month CD
OTHER TIERS: 0.15% → $500 - $10k | 0.30% → $10k - $50k | 0.40% → $50k - $200k
0.40%*$200k*-3 Month CD
OTHER TIERS: 0.10% → $500 - $10k | 0.20% → $10k - $50k | 0.30% → $50k - $200k
0.15%$100$10k6 Month Build-it CD
0.10%$100$10k3 Month Build-it CD

First South Financial IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.26%*$200k*-60 Month IRA
OTHER TIERS: 0.30% → $500 - $10k | 1.11% → $10k - $50k | 1.16% → $50k - $200k
0.95%*$200k*-36 Month IRA
OTHER TIERS: 0.30% → $500 - $10k | 0.75% → $10k - $50k | 0.85% → $50k - $200k
0.95%*$200k*-48 Month IRA
OTHER TIERS: 0.30% → $500 - $10k | 0.75% → $10k - $50k | 0.85% → $50k - $200k
0.80%*$200k*-24 Month IRA
OTHER TIERS: 0.25% → $500 - $10k | 0.60% → $10k - $50k | 0.70% → $50k - $200k
0.80%*$200k*-30 Month IRA
OTHER TIERS: 0.25% → $500 - $10k | 0.60% → $10k - $50k | 0.70% → $50k - $200k
0.65%*$200k*-12 Month IRA
OTHER TIERS: 0.20% → $500 - $10k | 0.45% → $10k - $50k | 0.55% → $50k - $200k
0.65%*$200k*-18 Month IRA
OTHER TIERS: 0.20% → $500 - $10k | 0.45% → $10k - $50k | 0.55% → $50k - $200k
0.50%*$200k*-6 Month IRA
OTHER TIERS: 0.15% → $500 - $10k | 0.30% → $10k - $50k | 0.40% → $50k - $200k
0.40%*$200k*-3 Month IRA
OTHER TIERS: 0.10% → $500 - $10k | 0.20% → $10k - $50k | 0.30% → $50k - $200k
Locations

Availability