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.
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.
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.
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!