Nonprofit · EIN 62-0548824
NEW SOUTH CREDIT UNION
Tax-exempt · KNOXVILLE, TN 37924
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $4,694,076 | $3,656,463 | $1,037,613 | $86,272,883 | $73,545,060 | $12,727,823 |
| December 31, 2024 | 990 | $4,019,005 | $3,255,922 | $763,083 | $78,524,078 | $66,833,868 | $11,690,210 |
| December 31, 2023 | 990 | $3,258,976 | $2,728,389 | $530,587 | $74,831,748 | $63,904,621 | $10,927,127 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $2,351,448
- Investment income
- $1,657,773
- Other revenue
- $684,855
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Other salaries and wages
- $1,167,135
- Salaries, compensation and benefits (total)
- $1,378,824
- Professional fundraising fees
- $0
- Occupancy
- $143,035
- Management and general (functional)
- $3,656,463
Balance sheet and other
- Total assets, start of year
- $78,524,078
- Total assets, end of year
- $86,272,883
- Total liabilities, end of year
- $73,545,060
- Net assets, end of year
- $12,727,823
- Land, buildings and equipment
- $2,909,773
- Gross receipts
- $4,694,076
- Employees
- 24
- Volunteers
- 10
- Year formed
- 1952
- State of legal domicile
- TN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Mack Mull | Chairperson Trustee or director | 1 | $0 |
| James Troutt | Vice Chairperson Trustee or director | 1 | $0 |
| Thomas Bentley | Treasurer Trustee or director | 1 | $0 |
| Barbara Williams | Secretary Trustee or director | 1 | $0 |
| Sandra Holbert | Board Member Trustee or director | 1 | $0 |
| Jeff Collins | Board Member Trustee or director | 1 | $0 |
| Joyce Grubb | Board Member Trustee or director | 1 | $0 |
| Jordan Campbell | Supervisory Committee Officer | 1 | $0 |
| M Adam Lee | Supervisory Committee Officer | 1 | $0 |
| April Taylor | Supervisory Committee Officer | 1 | $0 |
990 for the year ended December 31, 2024: 10 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Mack Mull | Chairperson Trustee or director | 1 | $0 |
| James Troutt | Vice Chairperson Trustee or director | 1 | $0 |
| Thomas Bentley | Treasurer Trustee or director | 1 | $0 |
| Barbara Williams | Secretary Trustee or director | 1 | $0 |
| Sandra Holbert | Board Member Trustee or director | 1 | $0 |
| Jeff Collins | Board Member Trustee or director | 1 | $0 |
| Joyce Grubb | Board Member Trustee or director | 1 | $0 |
| Jordan Campbell | Supervisory Committee Officer | 1 | $0 |
| M Adam Lee | Supervisory Committee Officer | 1 | $0 |
| April Taylor | Supervisory Committee Officer | 1 | $0 |
990 for the year ended December 31, 2023: 10 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Mack Mull | Chairperson Trustee or director | 1 | $0 |
| James Troutt | Vice Chairperson Trustee or director | 1 | $0 |
| Thomas Bentley | Treasurer Trustee or director | 1 | $0 |
| Barbara Williams | Secretary Trustee or director | 1 | $0 |
| Sandra Holbert | Board Member Trustee or director | 1 | $0 |
| Jeff Collins | Board Member Trustee or director | 1 | $0 |
| Joyce Grubb | Board Member Trustee or director | 1 | $0 |
| Jack Edmondson | Supervisory Committee Officer | 1 | $0 |
| M Adam Lee | Supervisory Committee Officer | 1 | $0 |
| Jordan Campbell | Supervisory Committee Officer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 3261 N MALL RD, KNOXVILLE, TN 37924-2019
- In care of
- % RICHARD SCHULZ
- Principal officer (990 for 2025)
- Richard C Schulz, 3261 N Mall Rd, Knoxville, TN 37924
- Signed the 990
- Richard Schulz, President/CEO
- Phone
- (865) 523-0757
- Website
- newsouthcu.com
Mission
Credit Union - to provide financial services to members.
Program accomplishments
- Credit Union - to provide service to approximately 6,748 members in the form of loans, etc.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 62-0548824
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1952
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Group exemption
- 1182: CREDIT UNIONS CHARTERED IN THE STATE OF TENNESSEE
- Assets (IRS master file)
- $86,272,883
- Income (IRS master file)
- $4,694,076
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $4,694,076 | $3,656,463 | $86,272,883 | IRS |
| 990 | December 2024 | $4,019,005 | $3,255,922 | $78,524,078 | IRS |
| 990 | December 2023 | $3,258,976 | $2,728,389 | $74,831,748 | XML |
| 990 | December 2022 | $2,559,639 | $2,175,076 | $77,847,074 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 62-0548824).
Questions about NEW SOUTH CREDIT UNION
- What is the EIN of NEW SOUTH CREDIT UNION?
- The employer identification number (EIN) of NEW SOUTH CREDIT UNION is 62-0548824.
- Is NEW SOUTH CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1952.
- Are donations to NEW SOUTH CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does NEW SOUTH CREDIT UNION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of NEW SOUTH CREDIT UNION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NEW SOUTH CREDIT UNION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of NEW SOUTH CREDIT UNION?
- The 990 for the year ended December 31, 2025 names Richard C Schulz.
- Who are the officers and directors of NEW SOUTH CREDIT UNION?
- The 990 for the year ended December 31, 2025 lists 10 people; 0 received compensation from the organization.
- How much revenue does NEW SOUTH CREDIT UNION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $4,694,076, expenses of $3,656,463 and total assets of $86,272,883 at year end.
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