First South Financial Approaches 70th Anniversary as Credit Union Expands Across the Mid-South and Nears $1 Billion in Assets

BARTLETT, TN, October 19, 2026 (EZ Newswire) -- First South Financial, a member-owned credit union founded in 1957, is approaching its 70th anniversary in 2027 as it continues expanding across Tennessee, Arkansas, and Mississippi. The credit union currently serves more than 80,000 members, manages approximately $850 million in assets, operates 18 locations, and is on track to surpass $1 billion in assets in 2027.

The organization’s growth has been accompanied by longstanding measures of financial strength. First South Financial has earned BauerFinancial’s highest five-star rating for more than 130 consecutive quarters, and the draft reports that it ranks among the top 1% of financial institutions nationwide for financial strength and stability while maintaining a capital ratio more than five times the regulatory benchmark.

“We succeed when our members succeed,” says Dr. Craig Esrael, President and CEO. “Our goal is to make lives better. Financial strength gives us the ability to say ‘yes’ more often, invest in our members, and serve our communities for generations.”

“Those numbers represent something much more important than financial performance,” Esrael says. “They represent stability. They mean our members can trust that we’ll be here tomorrow, next year, and decades from now.”

Unlike traditional banks, First South is owned by the members it serves rather than outside shareholders. Earnings are reinvested into better rates, lower fees, expanded services, innovative technology, and stronger communities.

Banking with Friends

Growth, however, has never come at the expense of relationships.

That commitment is reflected in First South’s long-standing tagline, “Banking with Friends.” More than a marketing message, it represents the culture that has guided the credit union for nearly 70 years. Every interaction, decision, and investment begins with a simple belief: When members come first, long-term success follows.

“Our brand isn’t something we promote; it’s something we live,” says Maria McLendon, Chief Marketing Officer. “‘Banking with Friends’ reflects a culture built on trust, service, and putting people before profit.”

That philosophy is reflected in the credit union’s exceptional member loyalty. First South consistently maintains a Net Promoter Score (NPS) above +90, far exceeding industry averages. For the team, the greatest measure of success isn’t a transaction; it’s when a member recommends First South to a friend or family member.

“The greatest compliment we can receive is when a member trusts us enough to recommend First South,” says Summers Townsend, Executive Vice President and COO. “As we grow into new communities, our commitment remains the same: to earn that trust one member, one relationship, and one interaction at a time.”

Strength Creates Opportunity

Financial strength creates flexibility, especially when members need it most.

Rather than relying on distant corporate offices, lending decisions are made locally by experienced professionals who understand the communities they serve. They look beyond credit scores to understand each member’s circumstances and work to find responsible financial solutions.

“Our goal is to find a path to yes,” Townsend says. “Whether we’re helping someone establish credit, finance a major purchase, or plan for the future, we’re doing more than making loans — we’re building relationships that can positively impact families for generations.”

Members enjoy the convenience of modern digital banking while continuing to receive the personalized service and local decision-making that have always defined First South.

People Before Profit

As a federally chartered credit union with a low-income designation, First South believes financial opportunity should be accessible to everyone.

The organization proudly serves diverse communities throughout the Mid-South, including many individuals and families historically underserved by traditional financial institutions.

Its Hispanic Member Services division provides bilingual financial services, education, and lending support that remove barriers and expand access to financial opportunity.

“We believe everyone deserves a trusted financial partner,” McLendon says. “Creating products and services that reflect the communities we serve is simply the right thing to do. It also reflects our mission to make lives better.”

Technology supports that mission as well. Rather than adopting technology for technology’s sake, First South invests in smart solutions that improve convenience, strengthen security, and enhance member experience without sacrificing the personal relationships that define “Banking with Friends.”

“We don’t chase technology because it’s new,” McLendon says. “We invest in smart technology because it helps us serve people better.”

The Next Chapter

As First South approaches its 70th anniversary, the organization continues expanding throughout Tennessee, Arkansas, and Mississippi while remaining true to the principles that have guided it since 1957: financial strength, local decision-making, and relationship-driven service.

Much of First South’s growth has occurred under the leadership of Esrael, who joined the credit union in 1983 and has helped transform it into one of the nation’s strongest and most respected financial institutions while remaining steadfast in its member-first mission.

Working alongside Townsend, McLendon, CFO Paul Pennebaker, CIO Tammy Craig, an experienced senior leadership team, and a dedicated Board of Directors, Esrael has fostered a culture built on collaboration, sound financial management, and long-term thinking. The Board, comprised of respected business and community leaders, provides strong governance and strategic oversight while empowering management to invest in the people, technology, and services that strengthen the organization for the future.

Together, the Board and leadership team are united by a common purpose: making lives better. Their commitment to financial strength, exceptional member service, and responsible growth has positioned First South to continue serving members, their families, and the communities they call home for generations to come.

“We are large enough to provide sophisticated financial solutions and strong enough to weather economic uncertainty,” Esrael says, “yet small enough to know our members by name and genuinely care about their success.”

For nearly 70 years, that philosophy has been known as “Banking with Friends.”

As First South Financial continues to grow, it remains committed to proving that the strongest financial institutions aren’t simply measured by the size of their balance sheet — they’re measured by the strength of the relationships they build and the lives they improve.

Join the mission-driven movement. Join First South Financial.

About First South Financial

First South Financial is a member-owned, federally insured financial institution serving members with a full range of financial services. Since 1957, its mission has been to provide members strong products, competitive value, and a high level of service. 

Media Contact

mmclendon@firstsouth.com