Community South Credit Union

What Community South Credit Union does

Community South Credit Union is a federally insured, not-for-profit, member-owned credit union headquartered in Chipley, Florida, founded in 1959 as the Florida SRD District 3 Credit Union to serve employees and retirees of the Florida Department of Transportation District #3. It operates four physical branches across Bonifay, Chipley (two locations), and DeFuniak Springs in the Florida Panhandle, serving residents of Washington, Holmes, Jackson, and North Walton counties. The institution is regulated by the National Credit Union Administration and holds an NMLS mortgage license (#451247), Equal Housing Lender status, FFIEC-compliant security infrastructure, and Excess Share Insurance through TruStage bringing combined deposit coverage to $500,000.

The core product portfolio spans deposit products (checking, savings, money market, share certificates, IRAs, club accounts, and youth accounts under the Reel Money Kids Club sub-brand) and lending products (vehicle, equipment, home, personal, business loans, home equity lines of credit, Visa Platinum credit cards, and credit-builder products). Digital delivery runs through the Softek-provided mobile banking app and online banking portal, complemented by the EZTeller 24/7 drive-thru video teller system, My CU Wallet card management feature, CardHub debit controls, Zelle for P2P transfers, Apple Pay and Google Pay tokenization, remote deposit capture, bill pay, and SavvyMoney credit score monitoring. The credit union's proprietary technology footprint is limited; the bulk of digital capability is sourced from third-party vendors.

Revenue is generated through net interest margin on the loan portfolio (vehicle, mortgage, HELOC, personal, business, credit card), fee income from overdraft privileges ($25 per item), wire transfers, and commissions from TruStage insurance and loan protection products (auto, life, credit life and disability, GAP, mechanical breakdown). As a not-for-profit cooperative, surplus is returned to members through rate and dividend spreads rather than equity returns. The credit union received a $500,000 award from the Community Development Financial Institutions Fund in April 2023 and channels community reinvestment through Splash Grants to K-12 educators, scholarships for graduating high school seniors, the Community Keepers Award for first responders, and event sponsorships with local partners such as Shred IT.

Name

Community South Credit Union

Legal name

Community South Credit Union

Website

https://communitysouth.net

Company type

Private

Founded year

1959

Operating status

Operating

Headcount range

11–50 employees

Short description

Community South Credit Union is a federally insured, member-owned credit union founded in 1959 serving Florida Panhandle residents, Florida DOT employees, and small businesses across Washington, Holmes, Jackson, and North Walton counties through four branches and full-service digital banking.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Card Issuing (522210), Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

Savings Institution, Federally Chartered (6035), Finance Services (6199)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

akta.pro secondary industry

Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Retail banking services
• Consumer lending
• Credit union services
• Deposit accounts
• Mortgage lending

Headquarters

HQ city

Chipley

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Loan Interest: Interest income from vehicle loans, home loans (including mortgages, HELOCs, construction), personal loans, business loans, equipment loans, and credit cards. As a not-for-profit credit union, interest earnings are returned to members through better rates.
2. Deposit Account Fees: Fees from overdraft protection services ($25 per overdraft item), wire transfers, and other account services. Checking accounts offered free with various features.
3. Insurance Products: Commission revenue from TruStage insurance products including auto insurance, life insurance, loan protection (credit life, disability, GAP, mechanical breakdown protection), and excess share insurance.
4. Membership Fees: $5 refundable share deposit required to open a membership account.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels5 records

Core offering

Community South Credit Union is a member-owned, not-for-profit financial cooperative that provides retail banking products and consumer/commercial lending services to members in the Florida Panhandle. Its offering spans deposit accounts (checking, savings, money market, certificates, IRAs), consumer loans (vehicle, home, personal, equipment), credit cards, business banking products, and digital banking services (online, mobile, EZTeller video banking, My CU Wallet card management).

Product overview

Community South Credit Union is a member-owned financial institution serving the Florida Panhandle since 1959. The product portfolio consists of core deposit products (checking, savings, money market, certificates, IRAs, youth accounts, club accounts), lending products (vehicle, home, personal, and business loans plus credit cards), and digital banking services. Digital services include Online & Mobile Banking with Zelle transfers, Remote Deposit, Bill Pay, and My CU Wallet card management. The institution also offers insurance products through TruStage partnership, loan protection services, overdraft coverage options, and community programs including classroom grants and first responder awards.

Differentiator

Problem solved

Functional benefit

Brands

• Reel Money Kids Club: Youth savings program for children to build good financial habits early.
• My CU Wallet
• EZteller
• CardHub

Products and services

• Checking Accounts Free checking account with multiple features for personal banking, including online and mobile access.
• Savings Accounts Multiple savings account options with competitive APY rates for short and long-term financial goals.
• Share Certificates Fixed-rate certificate accounts with terms from 6 to 60 months offering competitive dividend rates and minimum $500 balance requirement.
• IRA Certificates Individual Retirement Account certificates providing tax-advantaged savings with fixed-rate returns.
• Money Market Account Savings account offering higher returns than standard savings with competitive variable rate APY (0.50% as listed).
• Club Accounts Savings accounts designed for specific saving goals such as vacation or holiday expenses.
• Youth Accounts (Reel Money Kids Club) Savings and checking accounts for children and teens paired with the Reel Money Kids Club program and financial education resources.
• Vehicle Loans Financing for automobiles, SUVs, trucks, boats, RVs, motorcycles, jet skis, and ATVs with rates starting at 4.50% APR for new vehicles and 5.50% APR for used vehicles.
• Equipment Loans Financing for personal-use equipment such as tractors, mowers, golf carts, backhoes, and excavators.
• Home Loans Mortgage solutions including first mortgages, second mortgages, construction loans, and HELOC products. Licensed NMLS# 451247.
• Home Equity Line of Credit (HELOC) Revolving credit line secured by home equity providing flexible access to funds for debt consolidation, home improvements, or other expenses.
• Personal Loans Unsecured personal loans and lines of credit for various financial needs including debt consolidation and major purchases. Rates as low as 9.75% APR for loans and 10.00% APR for lines of credit.
• Visa Platinum Credit Cards Visa Platinum credit cards with no annual fees, no cash advance fees, and access to the ScoreCard Rewards program offering points redeemable for merchandise and travel.
• Business Accounts Deposit accounts and banking services tailored for business customers in the Florida Panhandle.
• Business Loans Commercial lending products for small businesses including small business loans, commercial real estate loans, construction loans, business lines of credit, and equipment financing.
• TruStage Insurance Auto, life, and home insurance products offered to members through partnership with TruStage. The credit union earns commissions on these products.
• Loan Protection Insurance Loan protection products including Credit Life and Credit Disability insurance, Guaranteed Asset Protection (GAP), and Mechanical Breakdown Insurance.
• Online & Mobile Banking 24/7 digital banking access through web browser and iOS/Android mobile apps enabling balance checks, transfers, bill pay, remote deposits, Zelle transfers, credit score access, and spending trends.
• Vacation Loan Personal loan product for vacation expenses offering rates as low as 8.00% APR with borrowing up to $2,500 and annual renewal option.

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• TruStagecoreTechnology or IntegrationTruStage provides insurance products offered to Community South members including auto insurance, life insurance, and loan protection products (Credit Life & Disability, GAP, Mechanical Breakdown Protection). Community South earns commissions through this partnership.
• Shred ITminorGTM or Marketing PartnerShred IT sponsors Community South's annual Shred Day event, providing document shredding services to community members.
• Corporate America Credit UnioncoreOthersCorporate America Credit Union serves as the receiving financial institution for incoming wire transfers to Community South members. Routing through their system for ACH and wire processing.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Alliant Credit Union: Large, open-charter digital-first credit union offering high-yield deposits and full digital banking. Comparable product mix but at much larger scale, representing the digital competitive benchmark for a small community credit union.
• VyStar Credit Union: One of the largest credit unions in Florida with statewide branch presence. Same industry and product category but materially larger scale, providing a relevant comparable for member growth and digital banking benchmarks.

Regional players

• Space Coast Credit Union: Florida-headquartered credit union with similar community focus, full product suite, and branch-based distribution. Regional peer with comparable member experience and product breadth.
• Pen Air Federal Credit Union: Florida Panhandle-based federal credit union serving Escambia, Santa Rosa, and surrounding counties. Directly comparable community credit union with similar deposit, lending, and digital product mix targeting overlapping Panhandle geography.
• Gulf Winds Federal Credit Union: Panhandle-based credit union headquartered in Pensacola with broader Florida and Alabama footprint. Comparable community-charter model, similar lending and deposit products, and direct competitor in adjacent Panhandle counties.
• Eglin Federal Credit Union: Florida Panhandle credit union serving military and civilian members across the Emerald Coast. Direct peer given overlapping branch geography, community credit union model, and similar personal/business lending products.

Direct peers

• Connexus Credit Union: National community-charter credit union with strong digital banking, competitive deposit rates, and nationwide ATM access. Directly comparable full-service credit union model with shared branching and modern digital features.
• Sunmark Credit Union: Community-charter credit union with similar community involvement programs, deposit/lending products, and member-owned cooperative structure. Direct analog of small-scale, locally embedded credit union model.

Emerging players

• Baxter Credit Union: Member-owned credit union with focus on consumer lending, deposits, and digital banking. Comparable product set with similar cooperative structure and member-centric value proposition.

Others

• TruStage (CMFG Life Insurance): Core insurance and excess share insurance partner of Community South, also serving many other credit unions. Listed as an OTHERS/ecosystem peer given the strategic partnership that supplies insurance products, deposit insurance, and commission revenue.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/community_south

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Community South Credit Union