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Nonprofit · EIN 62-0579508

FIRST SOUTH FINANCIAL FEDERAL CREDIT UNION

Tax-exempt · BARTLETT, TN 38134

Financials

$53.7M$39.7M2023$41.2M$27.8M2024
Revenue Expenses · by fiscal year end
Financials of FIRST SOUTH FINANCIAL FEDERAL CREDIT UNION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
August 31, 2024990$41,196,500$27,789,023$13,407,477$0$0$0
December 31, 2023990$53,656,539$39,651,139$14,005,400$755,950,628$547,209,156$208,741,472
Financial details: 990 for the year ended August 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$16,642,932
Investment income
$8,450,294
Other revenue
$16,103,274

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$2,036,662
Other salaries and wages
$6,503,061
Salaries, compensation and benefits (total)
$10,003,630
Professional fundraising fees
$0
Legal fees
$76,143
Accounting fees
$34,083
Occupancy
$681,569
Depreciation
$265,712

Balance sheet and other

Total assets, start of year
$755,950,628
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets, end of year
$0
Gross receipts
$41,196,500
Employees
183
Volunteers
7
Year formed
1957
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 August 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
Dr W Craig EsraelPresident/CEO
Officer
40$803,529$17,250
Summers TownsendExecutive Vice President
Officer
40$227,308$11,340
Tammy CraigChief Information Officer
Officer
40$172,551$8,461
W Paul PennebakerChief Financial Officer
Officer
40$172,551$8,371
Maria McLendonChief Marketing Officer
Highest-paid employee
40$133,654$6,346
Jodi HillContoller
Highest-paid employee
40$112,500$5,625
Ian JohnsonSVP Tech and Innovation
Former
40$96,923$4,835
David JoynerSenior Vice President - Information Systems
Highest-paid employee
40$86,539$3,317
Delynn ByarsSenior Vice President
Highest-paid employee
40$83,435$5,202
Laura PraterLegal Counsel
Officer
40$73,837$4,636
Penny HensleySVP Mortgages
Highest-paid employee
40$73,835$4,624
Eugene DouglassBoard Member
Trustee or director
5$0$0
Deb RossBoard Member
Trustee or director
5$0$0
Christi KelleyBoard Member
Trustee or director
5$0$0
Rob KameryBoard Member
Trustee or director
5$0$0
3 more people on this return
NameTitleHours / weekCompensation
John BillsBoard Member
Trustee or director
5$0
Gary BlumeBoard Member
Trustee or director
5$0
Thomas Dean JrBoard Member
Trustee or director
5$0
990 for the year ended December 31, 2023: 18 people
NameTitleHours / weekCompensationOther / benefits
Dr W Craig EsraelPresident/CEO
Officer
40$1,160,653$16,500
Summers TownsendExecutive Vice President
Officer
40$279,582$13,956
Tammy CraigChief Information Officer
Officer
40$235,501$12,507
W Paul PennebakerChief Financial Officer
Officer
40$235,501$11,491
Jodi HillContoller
Highest-paid employee
40$157,067$7,563
Delynn ByarsSenior Vice President
Highest-paid employee
40$146,414$7,296
Ian JohnsonSVP Tech and Innovation
Highest-paid employee
40$136,152$6,798
Laura PraterLegal Counsel
Officer
40$123,144$6,149
Penny HensleySVP Mortgages
Highest-paid employee
40$123,141$6,137
Jerry HensleyArea Sales Manager - Mortgages
Highest-paid employee
40$120,379$5,915
Steven McCormackSVP
Former
40$118,524$4,003
Eugene DouglassBoard Member
Trustee or director
5$0$0
Deb RossBoard Member
Trustee or director
5$0$0
Gaylon HallBoard Member
Trustee or director
5$0$0
Rob KameryBoard Member
Trustee or director
5$0$0
John BillsBoard Member
Trustee or director
5$0$0
Gary BlumeBoard Member
Trustee or director
5$0$0
Thomas Dean JrBoard Member
Trustee or director
5$0$0

Address and contacts

Address (IRS master file)
2723 SUMMER OAKS DR, BARTLETT, TN 38134-2858
In care of
% W PAUL PENNEBAKER
Principal officer (990 for 2024)
Paul Pennebaker, 2723 Summer Oaks Drive, Bartlett, TN 38134
Signed the 990
Paul Pennebaker, CFO
Phone
(901) 340-7400

Mission

FIRST SOUTH FINANCIAL CREDIT UNION IS A STATE CHARTERED CREDIT UNION AND CO-OPERATIVE THAT PROMOTES THRIFT, SAVINGS, AND LOANS TO ITS MEMBERS.

990 for the year ended August 31, 2024

Program accomplishments

  • MEMBERS ARE OFFERED A FULL SUITE OF FINANCIAL SERVICES THAT MEET ALL OF THEIR NEEDS.
    Expenses $27,789,023 · revenue $41,196,500

What it must file and when

IRS records say it files Not required (government). 501(c)(1) organizations do not file. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025Not on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
62-0579508
Tax-exempt status
501(c)(1): Corporation organized under an act of Congress
Donations deductible (Pub 78)
Organization other than a public charity or private foundation
Exempt since
2024
Accounting year ends
December
Files
Not required (government)
Income (IRS master file)
$41,196,500

Filing history

FormYear endedRevenueExpensesAssetsReturn
990August 2024$41,196,500$27,789,023$0XML
990December 2023$53,656,539$39,651,139$755,950,628XML
990December 2022$40,066,306$29,046,406$795,631,441IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS
990December 2017–––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 62-0579508).

Questions about FIRST SOUTH FINANCIAL FEDERAL CREDIT UNION

What is the EIN of FIRST SOUTH FINANCIAL FEDERAL CREDIT UNION?
The employer identification number (EIN) of FIRST SOUTH FINANCIAL FEDERAL CREDIT UNION is 62-0579508.
Is FIRST SOUTH FINANCIAL FEDERAL CREDIT UNION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(1) since 2024.
Are donations to FIRST SOUTH FINANCIAL FEDERAL CREDIT UNION tax-deductible?
Yes. It is listed in IRS Publication 78 (Organization other than a public charity or private foundation).
Which annual return does FIRST SOUTH FINANCIAL FEDERAL CREDIT UNION file?
Form Not required (government). 501(c)(1) organizations do not file.
When is the next return of FIRST SOUTH FINANCIAL FEDERAL CREDIT UNION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did FIRST SOUTH FINANCIAL FEDERAL CREDIT UNION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended August 2024.
Who is the principal officer of FIRST SOUTH FINANCIAL FEDERAL CREDIT UNION?
The 990 for the year ended August 31, 2024 names Paul Pennebaker.
Who are the officers and directors of FIRST SOUTH FINANCIAL FEDERAL CREDIT UNION?
The 990 for the year ended August 31, 2024 lists 18 people; 11 received compensation from the organization, the highest $803,529 (Dr W Craig Esrael, President/CEO).
How much revenue does FIRST SOUTH FINANCIAL FEDERAL CREDIT UNION have?
On its 990 for the year ended August 31, 2024 it reported revenue of $41,196,500, expenses of $27,789,023 and total assets of $0 at year end.

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