Our History. New South Credit Union was founded in 1952. Originally chartered to serve the employees of Southern Railway and named Southern Railway Employees Credit Union, it adopted its current name, New South Credit Union in 2002 to better represent the members and companies it serves. In addition to providing credit union membership to railroad employees, NSCU has grown to serve the employees and families of a variety of companies and organizations. We currently serve everyone who lives, works, worships or attends school in Knox, Grainger and Union counties. NSCU is regularly recognized as one of the strongest credit unions in the nation, serving over 5000 members in seventeen states. In fact, NSCU has received the superior, 5-star rating 22 consecutive periods from the Bauer Financial Group, a company that independently rates all financial institutions on soundness, security, & management practices. We offer most services available at banks; however, because we are a not-for-profit cooperative, we consistently pay higher interests on deposits and offer lower rates on loans. We also offer many FREE services, like FREE checking, On-line Banking, and many more. We take pride in providing our members, our owners, the best financial services at the lowest cost, while financially operating in a strong and safe manner. Who We Are. New South Credit Union is a not-for-profit, financial cooperative institution organized to promote thrift and provide credit to members. Yes, credit unions offer savings and checking accounts, loans, and many other financial services that banks offer, but credit unions are unique and distinct from any bank. It is member-owned and controlled through a Board of Directors elected by the membership. The board serves on a volunteer basis and may hire a management team to run the credit union. As a result, members are provided with a safe, convenient place to save and borrow at an institution which exists to benefit them, not to make a profit. Membership at New South Credit Union offers Many Unique & Distinct Advantages. NSCU, like all credit unions, is member-owned and not-for-profit. That's a BIG difference. We exist solely to serve our members by providing a smart alternative to other profit-driven banks and institutions. Each dollar of income, after normal operating expenses, is returned to our members in the form of higher interest on savings, lower rates on loans, and new and improved services. Because our motive is service, not profit, NSCU consistently offers better rates and more FREE services. Credit Unions also receive a much higher rating on personal service and member satisfaction. Your Savings Are Federally Insured. All savings accounts deposited in NSCU are insured up to $100,000 by the NCUA, the National Credit Union Administration, an agency of the federal government. How to Join New South Credit Union. Eligibility for membership is another unique characteristic of credit unions. New South Credit Union offers FREE membership to those who are eligible to join. If you live, work, worship, attend school or are related by blood to a current NSCU member, then you're eligible to join. If you are employed by a company or organization within our field-of-membership, OR if you are related by blood or marriage to a current NSCU member, then you're eligible to join. All that's required is opening up a savings (share) account by depositing at least $5. All of our services are available to you immediately upon joining. And remember, once you become a member you can retain lifetime membership by maintaining the required minimum savings account balance, regardless of any employment change or relocation. If your company or organization does not currently offer access to a credit union, call or email us for more information on how NSCU may provide the no-cost services of credit union membership. Call (865) 523-0757 and apply today! Top Ten Reasons to be a New South Credit Union Member 10. Surveys show that credit union members are consistently more satisfied with the service they receive than the customers of traditional banks. 9. NSCU follows the creed, "Once a member, always a member." When you join, you can remain a member for life, regardless of where you live or work. 8. Compared to most other financial institutions, NSCU consistently offers better rates on your savings and investments and lower interest rates on loans. 7. As a member/owner of NSCU, you get to vote on who sits on the board of directors. 6. You may even be eligible to one day serve as a member of the board of directors! 5. NSCU offers financial services for every stage of your life. Whether you need a loan for college expenses, or a savings account for a wedding, everything you need is at your credit union. 4. NSCU benefits their members. Formed to provide service, not to make profit, credit unions exist to help their members. 3. NSCU will go the extra mile to help you with your needs, whether you need a small service like a notary, or a larger service, like help getting a loan. 2. NSCU's Board of Directors aren't paid salaries. They're smart and loyal members who volunteer their time to help guide their credit union toward success. 1. You're not a faceless customer - you're a co-owner of a financial cooperative.