First South Financial
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 1.16% | 5-year CD | 60 Month CD 1.85% - Synchrony Bank 60 Month CD |
| 0.55% | 1-year CD | 12 Month CD 1.05% - Ally Bank High Yield 12-Month CD |
| 0.05% | Savings | Savings Plus 1.00% - Ally Bank Online Savings Account |
First South Financial is headquartered in Bartlett and is the 9th largest credit union in the state of Tennessee. It is also the 489th largest credit union in the nation. It was established in 1957 and as of June of 2016, it had grown to 107 employees and 56,185 members at 14 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
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.
Excellent Place To Bank
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!
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.
Horror At First South
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.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 68084 |
| Year Chartered | 1957 |
| Employees | 107 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.79% |
| Return on Equity - YTD | 6.58% |
| Annual Interest Income | $5.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2016vs Q2 2015 | $519.2MM$494.7MM |
| Loans | Q2 2016vs Q2 2015 | $300.1MM$254.2MM |
| Deposits | Q2 2016vs Q2 2015 | $369.7MM$354.2MM |
| Equity Capital | Q2 2016vs Q2 2015 | $140.6MM$131.4MM |
| Loan Loss Allowance | Q2 2016vs Q2 2015 | $12.6MM$12.4MM |
| Unbacked Noncurrent Loans | Q2 2016vs Q2 2015 | $232.00K$287.00K |
| Real Estate Owned | Q2 2016vs Q2 2015 | $89.00K$0 |
Always verify rates and promotions with the bank or credit union. We are not First South Financial; we are a rate comparison website and cannot provide official rates or promotions.
* 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.05% | $1k | - | Interest Checking |
First South Financial CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 1.16%* | $50k* | - | 60 Month CD | ||
| OTHER TIERS: 0.30% → $500 - $10k | 1.11% → $10k - $50k | |||||
| 0.85%* | $50k* | - | 36 Month CD | ||
| OTHER TIERS: 0.30% → $500 - $10k | 0.75% → $10k - $50k | |||||
| 0.85%* | $50k* | - | 48 Month CD | ||
| OTHER TIERS: 0.30% → $500 - $10k | 0.75% → $10k - $50k | |||||
| 0.70%* | $50k* | - | 24 Month CD | ||
| OTHER TIERS: 0.25% → $500 - $10k | 0.60% → $10k - $50k | |||||
| 0.70%* | $50k* | - | 30 Month CD | ||
| OTHER TIERS: 0.25% → $500 - $10k | 0.60% → $10k - $50k | |||||
| 0.55%* | $50k* | - | 12 Month CD | ||
| OTHER TIERS: 0.20% → $500 - $10k | 0.45% → $10k - $50k | |||||
| 0.55%* | $50k* | - | 18 Month CD | ||
| OTHER TIERS: 0.20% → $500 - $10k | 0.45% → $10k - $50k | |||||
| 0.40%* | $50k* | - | 6 Month CD | ||
| OTHER TIERS: 0.15% → $500 - $10k | 0.30% → $10k - $50k | |||||
| 0.30%* | $50k* | - | 3 Month CD | ||
| OTHER TIERS: 0.10% → $500 - $10k | 0.20% → $10k - $50k | |||||
| 0.15% | $100 | $10k | 6 Month Build-it CD | ||
| 0.10% | $100 | $10k | 3 Month Build-it CD | ||
First South Financial IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 1.16%* | $50k* | - | 60 Month IRA | ||
| OTHER TIERS: 0.30% → $500 - $10k | 1.11% → $10k - $50k | |||||
| 0.85%* | $50k* | - | 36 Month IRA | ||
| OTHER TIERS: 0.30% → $500 - $10k | 0.75% → $10k - $50k | |||||
| 0.85%* | $50k* | - | 48 Month IRA | ||
| OTHER TIERS: 0.30% → $500 - $10k | 0.75% → $10k - $50k | |||||
| 0.70%* | $50k* | - | 24 Month IRA | ||
| OTHER TIERS: 0.25% → $500 - $10k | 0.60% → $10k - $50k | |||||
| 0.70%* | $50k* | - | 30 Month IRA | ||
| OTHER TIERS: 0.25% → $500 - $10k | 0.60% → $10k - $50k | |||||
| 0.55%* | $50k* | - | 12 Month IRA | ||
| OTHER TIERS: 0.20% → $500 - $10k | 0.45% → $10k - $50k | |||||
| 0.55%* | $50k* | - | 18 Month IRA | ||
| OTHER TIERS: 0.20% → $500 - $10k | 0.45% → $10k - $50k | |||||
| 0.40%* | $50k* | - | 6 Month IRA | ||
| OTHER TIERS: 0.15% → $500 - $10k | 0.30% → $10k - $50k | |||||
| 0.30%* | $50k* | - | 3 Month IRA | ||
| OTHER TIERS: 0.10% → $500 - $10k | 0.20% → $10k - $50k | |||||
First South Financial has 14 locations. Click to view all First South Financial locations.