Sep, 30, 2025 — NEW SOUTH CREDIT UNION is a federally insured state chartered credit union headquartered in KNOXVILLE, TN with 3 branch locations and about $84.15 million in total assets. Opened 74 years ago in 1952, NEW SOUTH CREDIT UNION has about 6,745 members and employs 23 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NEW SOUTH CREDIT UNION |
|---|---|
| Address: (Main Office) | 3261 N Mall Rd KNOXVILLE, TN 37924 |
| Phone: | (865) 523-0757 |
| Fax: | |
| Website: | https://www.newsouthcu.com |
| Branches: | 3 branch locations |
| Members: | 6,745 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60645 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $84,148,867 |
| CEO/Manager: | Richard Schulz |
| Chairperson: | Mack Mull |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 6,214,934 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 5,418,455 |
| Unsecured Loans | 3,510,305 |
| Other Loans | 25,679,752 |
| TOTAL LOANS | 35,258,742 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -359,627 |
| Land And Building | 2,853,378 |
| Other Fixed Assets | 95,436 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 614,132 |
| All Other Assets | 0 |
| TOTAL ASSETS | 84,148,867 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 689,923 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 13,009,908 |
| Regular shares | 33,277,929 |
| All Other Shares & Deposits | 24,477,158 |
| TOTAL SHARES & DEPOSITS | 70,764,995 |
| TOTAL LIABILITIES | 71,454,918 |
| Regular Reserve | 0 |
| Other Reserves | 299,017 |
| Undivided Earnings | 12,394,932 |
| TOTAL EQUITY | 12,693,949 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 84,148,867 |
| INCOME & EXPENSE | |
| Loan Income | 1,610,977 |
| Investment Income | 1,203,569 |
| Other Income | 161,484 |
| Total Employee Compensation & Benefits | 957,757 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 910,288 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 36,084 |
| Cost of Funds | 605,135 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,003,739 |
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