Southern Security Federal Credit Union
Headquarters
P O Box 310
Collierville, TN 38027
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2024 Overview
General Credit Union Information
Southern Security is an NCUA insured institution located in Collierville, TN. It was founded in 1949 and has approximately $235.33 millions in assets.
| NCUA Insured | Yes / Federally Chartered |
| Charter Number # | # 5974 |
| Date Established | 1949 |
| Assets | $235.33 million |
| Loans | $143.65 million |
| Deposits | $214.41 million |
| Capital | $22.38 million |
Field of Membership Restrictions
Must be an employee of one of the several affiliated companies. (must call the credit union to confirm eligibility)
Deposit Rates - April 27, 2024
Your Current Location: Ohio, OH 43085
| Savings and Money Market Rates (Share Account Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| Savings
|
0.05% | $50 | $4,999 |
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|
|
Money Market
|
0.10% | $2,500 | $24,999 |
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|
|
Money Market
|
0.20% | $25,000 | $49,999 |
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|
| CD Rates (Share Certificate Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| 6 Mo CD
|
0.45% | $10,000 | $49,999 |
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|
| 6 Mo CD
|
0.50% | $50,000 | - |
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|
| 12 Mo CD
|
0.55% | $10,000 | $49,999 |
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|
| 12 Mo CD
|
0.60% | $50,000 | - |
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|
| 18 Mo CD
|
0.55% | $10,000 | $49,999 |
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|
| 18 Mo CD
|
0.60% | $50,000 | - |
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|
| 24 Mo CD
|
0.60% | $10,000 | $49,999 |
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|
| 24 Mo CD
|
0.65% | $50,000 | - |
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|
| 36 Mo CD
|
0.70% | $500 | - |
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|
| 48 Mo CD
|
0.75% | $500 | - |
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|
| 60 Mo CD
|
0.85% | $500 | - |
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|
| Variable IRA Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Var IRA
|
0.10% | $1 | - | Learn More |
| Int Checking Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Int Ckg
|
0.01% | $750 | $4,999 | Learn More |
Loan Rates - April 27, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Southern Security
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Ohio 30 Year Fixed Mortgage Rates 2024
| Lender | APR | Rate (%) | Points | Fees | Monthly Payment |
Learn More |
|---|---|---|---|---|---|---|
NMLS ID: 1835285 |
6.787% | 6.750% | 0.38 | $1,203 | $2,076 | Learn More |
NMLS ID: 2059741 |
7.004% | 6.875% | 0.63 | $4,192 | $2,103 | Learn More |
NMLS ID: 3030 |
7.463% | 7.375% | 0.88 | $2,800 | $2,211 | Learn More |
NMLS ID: 1907 |
Learn More |
Featured - Ohio Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
7.490 %
|
$0 |
Learn More
More Info |
Note to Southern Security
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Branches
Below are Southern Security branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Columbus,Ohio
Climate Policy and Initiatives
SOUTHERN SECURITY is encouraged to provide us with this information. When we receive this information from the credit union, we will provide it here.
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Financial Details
Southern Security Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Southern Security. The data is provided by the NCUA. All credit unions on BestCashCow, except those specified as not NCUA-insured in the overview section above, are NCUA-insured. Depositors should be careful to remain within NCUA insurance limits.
Texas Ratio
| Southern Security | U.S. Average |
|---|---|
| 11.49% | 6.97 |
The Texas Ratio compares the amount of loans at risk and assets repossessed with the amount a credit union has on hand to cover any losses. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a credit union has to absorb its loan losses.
As of December 31, 2023, Southern Security had $2,590,803 in non-current loans and $73,500 in owned assets. To cover these potential losses it had $22,380,424 in net worth and $798,471 in loans loss reserves. That gives it a Texas Ratio of 11.49%.
Net Worth
| Southern Security | U.S. Average |
|---|---|
| 9.51% | 13.62% |
Southern Security FCU has a net worth of 9.51% versus the BestCashCow average of 13.62. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.
Customer Reviews for Southern Security
megahertz
May 7, 2021 |
Becoming a member of SSFCU and breaking free of the traditional profit off consumers through big wealth trenching is the traditional banks as we know today on every corner. The suits will continue to gain Money never achieving true wealth because it’s source is greed that the common banking entities feed off of and it’s terrible. It’s a such a reward to be a part of something greater at SSFCU. A feeling that money cannot measure. I feel apart of a family with my true interests in mind... much like a team with SSFCU. I feel apart of something greater and very welcomed. The customer service is absolutely amazing and the overall financial security knowing that my wealth is much more than a dollar being apart of SSFCU is priceless.
Becoming a member was through my employer and I understand why some Credit Unions have these type of requirements as it creates a reward to be apart of something like SouthernSecurity Federal Credit Union.
I do not mind driving out of the way to deposit cash and no real reason to carry much cash today to even consider using out of network ATM and face surcharge.
Digital Money is here now. Just transfer to a PayPal card and use at ATM to avoid fees. I can’t think of a single CON to being apart of SSFCU.
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