First South Financial


Overview / Commentary
901-380-7400
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 513th largest credit union in the nation. It was established in 1957 and as of March of 2022, it had grown to 121 employees and 68,560 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

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

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.

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

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Health
A+

Health Grade Components

Overall
NCUA #68084
Year Chartered1957
Employees121
Primary Regulator
Profit Margin
Return on Assets - YTD1.03%
Return on Equity - YTD3.94%
Annual Interest Income$3.3MM
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$790.6MM$750.0MM
LoansQ1 2022vs Q1 2021$409.1MM$423.2MM
DepositsQ1 2022vs Q1 2021$572.9MM$543.8MM
Equity CapitalQ1 2022vs Q1 2021$205.7MM$195.2MM
Loan Loss AllowanceQ1 2022vs Q1 2021$18.4MM$16.6MM
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$616.00K$576.00K
Real Estate OwnedQ1 2022vs Q1 2021$0$0
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.04%--Vacation Savings Club
0.04%--Christmas Club
0.03%$200-Health Savings Account
0.03%$200-Prime Savings
0.02%$1k-Savings Plus

First South Financial Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%*$100k*-Money Market Account
OTHER TIERS: 0.05% Up to $2.5k | 0.10% $2.5k - $15k | 0.15% $15k - $25k | 0.20% $25k - $50k | 0.25% $50k - $100k

First South Financial Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.02%$1k-Interest Checking

First South Financial CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.55%*$200k*-60 Month CD
OTHER TIERS: 0.40% $1k - $10k | 0.45% $10k - $50k | 0.50% $50k - $200k
0.50%*$200k*-36 Month CD
OTHER TIERS: 0.30% $1k - $10k | 0.40% $10k - $50k | 0.45% $50k - $200k
0.50%*$200k*-48 Month CD
OTHER TIERS: 0.30% $1k - $10k | 0.40% $10k - $50k | 0.45% $50k - $200k
0.45%*$200k*-24 Month CD
OTHER TIERS: 0.25% $1k - $10k | 0.35% $10k - $50k | 0.40% $50k - $200k
0.45%*$200k*-30 Month CD
OTHER TIERS: 0.25% $1k - $10k | 0.35% $10k - $50k | 0.40% $50k - $200k
0.40%*$200k*-12 Month CD
OTHER TIERS: 0.20% $1k - $10k | 0.30% $10k - $50k | 0.35% $50k - $200k
0.40%*$200k*-18 Month CD
OTHER TIERS: 0.25% $1k - $10k | 0.30% $10k - $50k | 0.35% $50k - $200k
0.35%*$200k*-6 Month CD
OTHER TIERS: 0.15% $1k - $10k | 0.25% $10k - $50k | 0.30% $50k - $200k
0.30%*$200k*-3 Month CD
OTHER TIERS: 0.15% $1k - $10k | 0.20% $10k - $50k | 0.25% $50k - $200k
0.02%$100$1k3 Month Build-it CD
0.02%$100$1k6 Month Build-it CD

First South Financial IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.55%*$200k*-60 Month IRA
OTHER TIERS: 0.40% $1k - $10k | 0.45% $10k - $50k | 0.50% $50k - $200k
0.50%*$200k*-36 Month IRA
OTHER TIERS: 0.30% $1k - $10k | 0.40% $10k - $50k | 0.45% $50k - $200k
0.50%*$200k*-48 Month IRA
OTHER TIERS: 0.30% $1k - $10k | 0.40% $10k - $50k | 0.45% $50k - $200k
0.45%*$200k*-24 Month IRA
OTHER TIERS: 0.25% $1k - $10k | 0.35% $10k - $50k | 0.40% $50k - $200k
0.45%*$200k*-30 Month IRA
OTHER TIERS: 0.25% $1k - $10k | 0.35% $10k - $50k | 0.40% $50k - $200k
0.40%*$200k*-12 Month IRA
OTHER TIERS: 0.20% $1k - $10k | 0.30% $10k - $50k | 0.35% $50k - $200k
0.40%*$200k*-18 Month IRA
OTHER TIERS: 0.25% $1k - $10k | 0.30% $10k - $50k | 0.35% $50k - $200k
0.35%*$200k*-6 Month IRA
OTHER TIERS: 0.15% $1k - $10k | 0.25% $10k - $50k | 0.30% $50k - $200k
0.30%*$200k*-3 Month IRA
OTHER TIERS: 0.15% $1k - $10k | 0.20% $10k - $50k | 0.25% $50k - $200k
Locations

Availability



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