First South Financial Credit Union was founded in 1957 to meet the financial needs of military personnel and their families stationed aboard the Naval Air Station in Millington, Tennessee approximately 20 miles northeast of Memphis. The credit union began with just one office and deposits of just $200,000. In the 1980's, First South Financial's field-of-membership was broadened to serve employees of different companies throughout the Mid-South.First South Financial now has a community charter and is now able to serve all persons living, working, worshiping or attending school in Shelby, Tipton, Fayette, Madison, Dyer, DeSoto, Marshall, Tate and Tunica counties. First South Financial has grown to be among one of the largest credit unions in Tennessee.