How Do I Join?
Southern Security serves over 500 companies in the Mid-South area in and around Memphis, Tennessee, but we also have a strong presence in the communities of Grenada, Greenwood and Pontotoc in Mississippi. Eligibility is typically made available through your workplace or a family member. To find out if your employer is affiliated with Southern Security, please contact us, and we’ll verify it for you. Or if you have an immediate family member (grandparent, parent, brother, sister, child or grandchild) who is a member, you’re automatically eligible.
Offer Membership to Your Employees
Southern Security is always looking to partner with local companies to extend credit union membership to their employees. If your employer is not currently served by a credit union, have someone from your Human Resources department contact us. We’ll send information on the differences between banks and credit unions, the benefits of credit union membership and how your employer can offer credit union membership to you and your fellow employees for free!
How Can I Access My Account?
Southern Security offers multiple ways to access your account 24/7 for balances, cash, transfers and more.
Use the chart below to compare Southern Security accounts to other financial institutions. By comparing each of the features of an account, you can see your membership benefits at work.
|Share Savings Accounts||Share Draft Checking Accounts||Holiday Club||MMAs||Share Certificates||Accumlative IRAs & ESAs||Fixed IRAs & ESAa|
|Minimum Opening Deposit||$25||No Minimum||No Minimum||$2,500||$500 to $2,500||No Minimum||$250|
|Minimum Balance Requirement||$25 (Membership Required)||No Minimum||No Minimum||$2,500||Certificate Amount||No Minimum||Certificate Amount|
|Monthly Service Fee||None||None||None||None||None||None||None|
|Withdrawal Limits||2 per month||None||Penalty for withdrawals||None||Penalty for withdrawals||Penalty for withdrawals||Penalty for withdrawals|
|Dividends Earned||Yes - Starting with a $50 balance*||Yes - Starting with a $750 balance*||Yes - Starting with a $50 balance*||Yes - Starting with a $2500 balance*||Varies with term||Varies with IRA plan||Varies with IRA plan|
|Application||Membership Application||Yes - Approval Required||No||No||No||Yes - For both IRAs & ESAs||Yes - For both IRAs & ESAs|
|Other||Overdraft transfers from Share Account, Overdraft Security may be available.||Balance transferred to Share Account upon maturity on/near November 1st||$2,500 minimum balance to be maintained||Lengths of investment range from 91 days to 5 years||Tax-free contribution limited||Tax-free contribution limited|
MMAs = Money Market Accounts
IRAs = Individual Retirement Accounts
ESAs = Education Savings Accounts