New South Credit Union

What New South Credit Union does

New South Credit Union is a not-for-profit, member-owned cooperative credit union founded in 1952 to serve Southern Railway employees in East Tennessee. In 2004, the institution converted to a community charter, broadening membership eligibility to anyone who lives, works, worships, or attends school in Knox, Grainger, or Union counties in Tennessee, as well as employees and families of area companies. The institution is governed by an unpaid, member-elected Board of Directors and operates three branch locations (Knoxville Main Office, Blaine, and Maynardville) plus an ATM-only site in Rutledge, with deposit accounts federally insured through the NCUA up to $250,000 per depositor.

The product portfolio spans deposit accounts (Primary Savings, free Checking, Money Market, CDs from 6 months to 5 years, Traditional/Roth/Educational IRAs, and Christmas/Vacation/Special savings clubs), consumer lending (auto, personal, mortgage), and VISA credit and debit cards. Investment and insurance services are offered through the adjacent operating subsidiary NSCU Financial Services, which partners with OneAmerica Securities (Member FINRA/SIPC) for mutual funds, annuities, retirement planning, and 401(k)/IRA rollovers. Revenue is generated primarily through net interest income on the loan portfolio, with supplemental fee income from deposit services, a $5 PortalPay convenience fee for one-time online loan payments from external institutions, and a $1 ATM balance inquiry fee.

Digital service infrastructure runs on the HomeCU platform, providing web-based online banking, the New South CU Mobile app for iOS and Android, a separate Remote Deposit app for mobile check capture, text banking, e-statements with 24-month archives, bill pay, and configurable text/email account alerts. Surcharge-free ATM access is delivered through MoneyPass and Easy Street networks plus Weigel's convenience locations, totaling 2,500+ ATMs nationwide and 750+ statewide. Fraud protection for VISA cards is provided via Elan Financial Services' Fraud Watch Plus 24/7 monitoring system. Marketing and member communications rely on the corporate website, a quarterly newsletter, email alerts, and in-branch engagement.

Name

New South Credit Union

Legal name

New South Credit Union

Website

https://newsouthcu.com

Company type

Private

Founded year

1952

Operating status

Operating

Headcount range

11–50 employees

Short description

New South Credit Union is a not-for-profit, member-owned community credit union founded in 1952, serving residents, workers, and students across Knox, Grainger, and Union counties in East Tennessee through three branches, digital banking channels, and surcharge-free ATM access.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Card Issuing (522210)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

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

Keywords

• Retail banking services
• Consumer lending products
• Deposit accounts
• Credit union services
• Digital banking

Headquarters

HQ city

Knoxville

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: Primary revenue stream from interest charged on various loan products including auto loans, personal loans, mortgages, and credit cards. As a not-for-profit cooperative, interest rates on loans are kept lower than for-profit banks while providing returns to members.
2. Deposit Account Fees: Fees associated with deposit accounts including monthly maintenance (though many accounts are free), ATM balance inquiry fees ($1.00), and other service charges.
3. Loan Fees: Fees associated with loan products and services, including a $5.00 convenience fee for one-time online payments through PortalPay.
4. Investment Services Revenue Share: Partnership with OneAmerica Securities through NSCU Financial Services for investment and insurance products including mutual funds, annuities, and retirement planning services.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

New South Credit Union is a not-for-profit, member-owned cooperative financial institution that provides retail banking products and services to individuals and families in Knox, Grainger, and Union counties in East Tennessee. Its core offerings include deposit accounts (savings, checking, money market, certificates of deposit, IRAs, and club accounts), consumer loans (auto, personal, mortgage), VISA credit and debit cards, and digital banking channels (online, mobile, remote deposit, text banking). The institution also offers investment and insurance advisory services through its NSCU Financial Services subsidiary in partnership with OneAmerica Securities.

Product overview

New South Credit Union operates as a not-for-profit financial institution offering a comprehensive suite of banking products organized around its core HomeCU online banking platform. The product portfolio includes foundational deposit products (Primary Savings, Checking, Money Market, and Certificates of Deposit), retirement accounts (Traditional, Roth, and Educational IRAs), and specialized accounts (Christmas/Vacation Clubs, Special Savings). The digital banking suite comprises Online Banking, Mobile Banking App (iOS/Android), Remote Deposit, Text Banking, E-Statements, Bill Pay, and Account Alerts. The institution also provides credit products through VISA Credit Cards and Debit Cards, loan services including auto and personal loans with multiple payment options (Digital Banking transfers, Payroll Allocation, ACH, and PortalPay one-time payments), and investment/insurance advisory services through NSCU Financial Services. ATM access is provided through MoneyPass, Easy Street, and Weigel's networks. Fraud protection is handled through Elan's Fraud Watch Plus system.

Differentiator

Problem solved

Functional benefit

Brands

• NSCU Financial Services: Onsite licensed investment and insurance services including retirement planning, tax-efficient investing, life and long term care planning, 401(k) and IRA rollovers, college planning, mutual funds, variable and fixed rate annuities, and lifetime income annuities. Securities offered through OneAmerica Securities, Inc., Member FINRA/SIPC.

Products and services

• Primary Savings Account Basic share savings account requiring a $5 minimum opening deposit to establish membership in the credit union; provides federally insured competitive interest rates (NCUA insured up to $250,000) and serves as the foundation for member ownership.
• Checking Account Free checking account with no monthly fees, optional interest earnings upon meeting minimum balance requirements, and a free debit card providing access to over 2,000 surcharge-free ATMs nationwide through MoneyPass, Easy Street, and Weigel's networks.
• Money Market Account Federally insured savings account with tiered interest rates based on balance, allowing up to 5 deposits and withdrawals per month with no maturity date restrictions.
• Certificates of Deposit (CDs) Federally insured time deposit accounts with terms ranging from 6 months to 5 years, offering better interest rates in exchange for committed deposit until maturity; minimum deposit required and rates increase based on term length and balance tier.
• Individual Retirement Account (IRA) Retirement savings accounts available in Traditional, Roth, and Educational variants with competitive interest rates, supporting both ongoing contributions and rollovers from other retirement plans.
• Christmas & Vacation Club Accounts Specialized savings accounts designed for holiday and vacation savings, with automatic annual balance transfers to the member's primary savings account at maturity.
• Special Savings Account Supplemental savings accounts that can be customized with member-defined names for specific savings goals.
• VISA Credit Card Credit card with online access integrated into online banking, offering e-statements, payment scheduling from any New South or external account, and 24/7 fraud monitoring through Elan's Fraud Watch Plus system.
• Debit Card Free debit card with no monthly fees, accepted at surcharge-free ATMs through MoneyPass, Easy Street, and Weigel's networks, with 24/7 fraud monitoring via Fraud Watch Plus.
• Online Banking 24/7 web-based banking platform enabling account access for balances and history viewing, transfers, payments, bill pay, e-statements, account alerts, VISA credit card access, check reordering, and loan applications; available to members through my.homecu.net.
• Mobile Banking App (New South CU Mobile) Native mobile application for iOS and Android providing full banking functionality including account access, balance viewing, account alerts, transfers, and account management on smartphones and tablets.
• Remote Deposit (New South CU - Remote Deposit) Standalone mobile check deposit application enabling members to deposit checks remotely using their smartphone camera, available as a separate iOS app.
• NSCU Financial Services Onsite licensed investment and insurance consultation services offering retirement planning, tax-efficient investing, life and long-term care planning, 401(k)/IRA rollovers, college planning, mutual funds, variable annuities, fixed rate annuities, and lifetime income annuities; securities offered through OneAmerica Securities, Inc.
• One-Time Online Payment (PortalPay) Loan payment service enabling quick one-time payments from external financial institutions via debit card or ACH, processed through PortalPay with a $5.00 convenience fee per payment.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature5 records

Partnerships

Five partnerships are on record, tiered core.

• CUNA Mutual Group (MEMBERCONNECT)coreGTM or Marketing PartnerJoint marketing partnership for financial products and services. CUNA Mutual Group's MEMBERCONNECT platform is used for joint marketing of insurance and financial products to credit union members.
• MoneyPass NetworkcoreTechnology or IntegrationSurcharge-free ATM network partnership providing members access to over 2,500 ATMs nationwide at no additional cost.
• Easy Street NetworkcoreTechnology or IntegrationSurcharge-free ATM network partnership providing members access to thousands of ATMs nationwide at no additional cost.
• OneAmerica Securities, Inc.coreChannel Partner/ Reseller/ DistributorSecurities partnership through NSCU Financial Services offering investment and insurance products including mutual funds, annuities, and retirement planning services. Securities offered through OneAmerica Securities, Inc., Member FINRA/SIPC.
• Elan Financial ServicescoreTechnology or IntegrationProvides fraud prevention and monitoring system (Fraud Watch Plus) for VISA credit cards, operating 24/7 to detect and prevent fraudulent transactions.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Market position

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/new-south-credit-union

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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 New South Credit Union