First South Financial is headquartered in Bartlett and is the 10th largest credit union in the state of Tennessee. It is also the 514th largest credit union in the nation. It was established in 1957 and as of June of 2022, it had grown to 120 employees and 68,727 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
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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.
A Great Credit Union
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.
Warning Credit Union Will Steal Your Money
Help needed! ASAP, I have cared for peoople in the tri-state area since the COVID pandemic. I am a front-line Registered Nurse serving those that have served us. The United States Government currently has various loan repayment options available for healthcare workers. I transposed my account number at the credit union. I reached out to the credit union explained the mistake.
Multiple bank reps stated the money would be sent back to the issuer. Every morning I reached out to the bank. Only to have my money placed into my account then removed by bank's risk management. The credit union deposited a portion of the check then stated the other money was deposited into someone's account. It's my fault by law the credit union does not have to replace the funds. I want every person banking with a credit union to know the difference in financial institutions. There are Federal regulated and state regulated credit unions. Your money is protected with a Federal credit union. But a state regulated credit union has a different set of rules. A Tennessee regulated credit union took my funds. And will not replace the money. The bank stated I need to get a lawyer and go sue the people who spent the money. Everyone beware of shady business practices. Put your money in a Federal insured credit union. First South credit union is a Tennessee regulated credit union, don't make the mistake putting your in money here. First South has not sent me any information. Be very aware
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 68084 |
| Year Chartered | 1957 |
| Employees | 120 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.18% |
| Return on Equity - YTD | 4.49% |
| Annual Interest Income | $7.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $800.9MM$760.8MM |
| Loans | Q2 2022vs Q2 2021 | $413.8MM$432.4MM |
| Deposits | Q2 2022vs Q2 2021 | $579.8MM$551.3MM |
| Equity Capital | Q2 2022vs Q2 2021 | $208.4MM$197.8MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $18.8MM$17.4MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $734.00K$476.00K |
| Real Estate Owned | Q2 2022vs Q2 2021 | $0$0 |
