Our History. New South Credit Union was founded in 1952 and originally chartered to serve the employees of Southern Railway. In 2004 New South became a community chartered credit union which allows us to serve everyone who lives, works, worships or attends school in Knox, Grainger and Union counties in addition to the employees and families of a variety of companies and organizations within the area.
Our Uniqueness. New South Credit Union is unique and distinct from any bank. Unlike banks that are in business to make profit, New South is a not-for-profit institution organized to promote thrift and provide credit to members. Yes, we offer savings and checking accounts, loans, and many other financial services that banks offer, but New South was chartered to give people an alternative to using a for-profit bank. We are owned by our accountholders (members) and controlled through a unpaid Board of Directors elected by the accountholders. 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.
Our Service. New South – The Better Way to Bank! It’s true. We offer most services available at banks; however, because we are a not-for-profit cooperative, we consistently offer lower rates on loans and pay higher interests on deposits. Plus, we also offer many free services that you would normally pay for at a bank. We take pride in providing our member-owners, the very best in personal and financial service.
Our Strength. The financial strength of where you choose to bank is important. New South is regularly recognized as one of the strongest credit unions and financial institutions in the region. In fact, New South has received the top Superior, 5-star rating from the Bauer Financial Group for its overall strength for over 25 consecutive years!
New South Credit Union offers FREE membership and opening an account or applying for a loan is quick and easy. To open an account and become a “member” of New South, you just need to open a primary savings account by depositing at least $5 in the account. By opening your primary savings account, you are actually purchasing “Shares” in the credit union. This makes you a shareholder – an owner.
Who can open an account and become a member of New South.
There are some requirements to open an account with New South. If you live, work, worship, attend school, or if you are related by blood, or marriage to a current New South member or eligible member, then you're eligible to apply for membership. And remember, once you become a member you can retain lifetime membership regardless of any relocation or employment change.
To open an account you, and any person you want to be a joint owner on the account, will need to visit one of our branch locations. For your convenience, you can print off or submit a membership application form prior to visiting our office. When you open an account, we are required to verify the following information:
- Valid Photo ID
- Physical Address
- Telephone Number
- Date of Birth
- Social Security Number
SECURE MEMBERSHIP APPLICATION
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
To help the government fight the funding of terrorism and money laundering activities, Federal Law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. |
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