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Banking With Friends Since 1957

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About First South

Welcome To First South

First South is a member-owned, federally insured financial institution serving over 50,000 members throughout the world. We are a recognized leader in strength and stability, leadership excellence, and overall service quality by a wide-array of independent organizations.

Click here to access information on our strength and stability.

Our History

First South Credit Union was founded in 1957 to meet the financial needs of military personnel and their families stationed aboard the Naval Air Station in Millington, Tennessee approximately 20 miles northeast of Memphis. The credit union began with just one office and deposits of just $200,000. In the 1980's, First South's field-of-membership was broadened to serve employees of different companies throughout the Mid-South. Recently, First South was granted a community charter and is now able to serve all persons living, working, worshiping or attending school in Shelby, Tipton, Fayette, DeSoto, Marshall, Tate and Tunica counties. First South has grown to be among one of the largest credit unions in Tennessee.

Mission and Strategic Vision

Our mission has been a simple one: to provide a full range of financial services to members in a convenient and efficient manner and ensure the financial integrity and soundness of the institution. We strive to provide the best financial products and services available anywhere at prices below what our competitors charge.

Ownership of First South

First South is member owned and member operated. Our volunteer board of directors are democratically elected by our entire membership — one vote per member. In this way, every member has an equal voice in the management of their very own financial institution.

Field-of-Membership

Because we are a non-profit entity, we are only able to offer membership to those who are eligible to join. If you live, work, worship or attend school in Shelby, Tipton, Fayette, DeSoto, Marshall, Tate and Tunica counties then you can join. Lifetime membership is only $10.

To join or for more information call 901.380.7400 or e-mail us at mail@firstsouth.com and apply today!

Member Newsletter

Download latest edition of firstedition, First South's helpful newsletter!
Download the previous edition of firstedition.

First Edition requires Adobe Acrobat Reader .

Annual Report

You can get a copy of our latest Annual Report by calling 901.380.7400 or click here to download.

Our Annual Report requires Adobe Acrobat Reader .

For information about our financial status as of 8-31-2008, please click here.

Strength and Stability

First South is among the top 2% of financial institutions in terms of strength and stability. In 2007 we were again rated "Superior" by IDC, an independent financial rating service. Members' deposits are insured to at least $250,000 by the NCUA, an agency of the U.S. Government.

Members of First South enjoy peace-of-mind knowing their investments are secure with one of the safest financial institutions in the country.

Federal Insurance Protection

Federal Insurance Protection is provided on First South Accounts, by the National Credit Union Share Insurance Fund (NCUSIF). This is similar to the Federal Deposit Insurance Corporation (FDIC) insurance at banks. Insured credit unions are required to maintain 1% of their insured shares in the NCUSIF. This fund is extremely strong and is at its best reserved level in history. No funds have ever been lost by a member of a federally insured credit union.

Your accounts are insured up to $250,000 with up to an additional $250,000 for IRAs.Click here for more inforrmation.

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