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ASI Federal Credit Union
5508 Citrus BoulevardHarahan LA, 70123
CDFI Awards for ASI Federal Credit Union
FA (2009) - $2,000,000
ASI Federal Credit Union is a Community Development Credit Union and a certified CDFI. Established in 1961, it serves New Orleans and much of southern Louisiana. ASI FCU provides a combination of financial services and products to its members, including extensive services to the formerly unbanked. ASI will use its CDFI Program award to increase its loan loss reserves and lending activity.
FA (2008) - $1,097,318
ASI Federal Credit Union is a certified CDFI chartered in 1961 ASI is a low-income designated credit union serving the New Orleans region ASI will soon have 17 branches in neighborhoods and communities plagued by entrenched poverty ASI will use the FY08 Financial Assistance award of $1,000,000 for its refinance and rescue mortgage product to assist homeowners trapped in predatory mortgages and on the brink of foreclosure ASI will use its FY08 Technical Assistance grant of $97,318 to hire additional staff and purchase new loan tracking and reporting software.
FA (2007) - $959,308
ASI will use its FY2007 Financial Assistance award for net capital and to help maintain a recently restored net capital ratio after losses due to the 2005 Gulf coast hurricanes. It will use its Technical Assistance award for staff training, computers, salary support and to hire two new bilingual branch managers - one each for the Vietnamese and Spanish-speaking communities in South Louisiana.
FA (2006) - $585,000
ASI will use the $485,000 Financial Assistance Award to mitigate an estimated $2 million in portfolio losses stemming from Hurricane Katrina. The $100,000 Technical Assistance Award will be used to purchase computer equipment for the main branch as well as two new branches established in hurricane reception areas.
Other Community Development Financial Institutions in Louisiana
ASI Federal Credit Union
Harahan
Capital One Community Renewal Fund, LLC
New Orleans
Dryades Savings Bank, FSB
New Orleans
Eagle Louisiana Federal Credit Union
Baton Rouge
Enhanced Delta Community Development, LLC
New Orleans
Liberty Bank and Trust Company
New Orleans
Liberty Financial Services
New Orleans
National Cities Fund, LLC
New Orleans
New Orleans Community Development Fund
New Orleans
NEWCORP Business Assistance Center
New Orleans
Red River Valley BIDCO, Inc.
Shreveport
Southern Mutual Financial Services, Inc.
New Iberia
Stonehenge Community Development, LLC
Baton Rouge
Whitney New Markets Fund, LLC
New Orleans
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