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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 498th largest credit union in the nation. It was established in 1957 and as of March of 2018, it had grown to 114 employees and 62,712 members at 16 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.
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Reviews (8)

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 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.

Great for small depositors

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.

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.

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.

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.

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

NCUA #68084
Year Chartered1957
Primary Regulator
Profit Margin
Return on Assets - YTD1.93%
Return on Equity - YTD6.79%
Annual Interest Income$3.7MM
Assets and Liabilities
AssetsQ1 2018vs Q1 2017$570.3MM$545.1MM
LoansQ1 2018vs Q1 2017$341.2MM$341.9MM
DepositsQ1 2018vs Q1 2017$397.1MM$386.6MM
Equity CapitalQ1 2018vs Q1 2017$159.8MM$148.5MM
Loan Loss AllowanceQ1 2018vs Q1 2017$13.2MM$12.4MM
Unbacked Noncurrent LoansQ1 2018vs Q1 2017$459.00K$555.00K
Real Estate OwnedQ1 2018vs Q1 2017$0$55.00K
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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

0.20%*$20k*-Prime Savings
OTHER TIERS: 0.10% $200 - $3k | 0.15% $3k - $20k
0.10%*$20k*-Health Savings Account
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

0.40%*$100k*-Money Market Account
OTHER TIERS: 0.15% $2,500 - $15k | 0.20% $15k - $25k | 0.25% $25k - $50k | 0.30% $50k - $100k

First South Financial Checking Account Rates

0.05%$1k-Interest Checking

First South Financial CD Rates

1.71%*$200k*-60 Month CD
OTHER TIERS: 0.95% $500 - $10k | 1.51% $10k - $50k | 1.61% $50k - $200k
1.61%*$200k*-48 Month CD
OTHER TIERS: 0.85% $500 - $10k | 1.41% $10k - $50k | 1.51% $50k - $200k
1.51%*$200k*-36 Month CD
OTHER TIERS: 0.75% $500 - $10k | 1.31% $10k - $50k | 1.41% $50k - $200k
1.46%*$200k*-30 Month CD
OTHER TIERS: 0.70% $500 - $10k | 1.26% $10k - $50k | 1.36% $50k - $200k
1.41%*$200k*-24 Month CD
OTHER TIERS: 0.65% $500 - $10k | 1.21% $10k - $50k | 1.31% $50k - $200k
1.21%*$200k*-18 Month CD
OTHER TIERS: 0.55% $500 - $10k | 1.00% $10k - $50k | 1.10% $50k - $200k
0.95%*$200k*-12 Month CD
OTHER TIERS: 0.45% $500 - $10k | 0.75% $10k - $50k | 0.85% $50k - $200k
0.85%*$200k*-6 Month CD
OTHER TIERS: 0.35% $500 - $10k | 0.65% $10k - $50k | 0.75% $50k - $200k
0.45%*$200k*-3 Month CD
OTHER TIERS: 0.15% $500 - $10k | 0.25% $10k - $50k | 0.35% $50k - $200k
0.20%$100$10k6 Month Build-it CD
0.10%$100$10k3 Month Build-it CD

First South Financial IRA Rates

1.71%*$200k*-60 Month IRA
OTHER TIERS: 0.95% $500 - $10k | 1.51% $10k - $50k | 1.61% $50k - $200k
1.61%*$200k*-48 Month IRA
OTHER TIERS: 0.85% $500 - $10k | 1.41% $10k - $50k | 1.51% $50k - $200k
1.51%*$200k*-36 Month IRA
OTHER TIERS: 0.75% $500 - $10k | 1.31% $10k - $50k | 1.41% $50k - $200k
1.46%*$200k*-30 Month IRA
OTHER TIERS: 0.70% $500 - $10k | 1.26% $10k - $50k | 1.36% $50k - $200k
1.41%*$200k*-24 Month IRA
OTHER TIERS: 0.65% $500 - $10k | 1.21% $10k - $50k | 1.31% $50k - $200k
1.21%*$200k*-18 Month IRA
OTHER TIERS: 0.55% $500 - $10k | 1.00% $10k - $50k | 1.10% $50k - $200k
0.95%*$200k*-12 Month IRA
OTHER TIERS: 0.45% $500 - $10k | 0.75% $10k - $50k | 0.85% $50k - $200k
0.85%*$200k*-6 Month IRA
OTHER TIERS: 0.35% $500 - $10k | 0.65% $10k - $50k | 0.75% $50k - $200k
0.45%*$200k*-3 Month IRA
OTHER TIERS: 0.15% $500 - $10k | 0.25% $10k - $50k | 0.35% $50k - $200k


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