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checking And Savings account disclosures

APY = Annual Percentage Yield.

Student Accounts: must be enrolled in eStatements and proof of eligibility is required. Available to any full-time undergraduate or graduate student under the age of 25 Once the student reaches the age of 25, student checking will be converted to regular checking. 

A Regular Savings Account will convert to a Savings Plus account if a Visa Debit Card is used at least once for purchases. 

Youth Savings and StudentFirst Checking: primary account holder must be under the age of 18. Parent or legal guardian must be a joint account holder. Once the primary account holder reaches the age of 18, the account will convert to a Regular Savings Account or a Regular Checking Account.

Club Accounts are paid dividends yearly and then the funds are transferred to your Savings or Checking Account at maturity, which is the first week of November for Christmas Club and the first week in June for Vacation Club.

With Overdraft Privilege, First South Financial will honor an overdraft transaction up to a maximum preset limit of $300.00 – $2000.00. All you need is an eligible Account. As long as your account remains in good standing First South will honor overdrafts and charge an Overdraft Privilege (ODP) fee for each transaction to be deducted from your account. To make sure this service remains available your account must be brought to a positive balance within 30 days. Overdraft Privilege is not a line of credit but a courtesy extended to accounts that qualify. For more information call 901.380.7400 or email us at

e-Statements and E-Signature Disclosure

USA Patriot Act


Section 326 of the USA PATRIOT ACT requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account or changes an existing account. This federal requirement applies to all new customers and current customers. This information is used to assist the United States government in the fight against the funding of terrorism and money-laundering activities.
What this means to you: when you open an account or change an existing account, we will ask each person for their name, physical address, mailing address, date of birth, and other information that will allow us to identify them. We will ask to see each person’s driver’s license and other identifying documents and copy or record information from each of them.

Privacy Policy

Website Privacy Policy



preapproval opt out

Card Disclosures

Opening and Solicitation Disclosure

Notice to visa debit card holders

gift card terms and conditions

reloadable card terms and conditions

Home Mortgage Disclosure Act Notice

The HMDA data about our residential mortgage lending are available online for review. The data show geographic distribution of loans and applications;ethnicity, rate, sex and income of applicants and borrowers; and information about loan approvals and denials. These data are available online at the Consumer Financial Protection Bureau's Web site ( HMDA data for many other financial institutions are also available at this Web site.

Home Equity Line of Credit Disclosures

HELOC Early Disclosure

What you should know about home equity lines of credit


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