ASI Federal Credit Union is a community development lender founded in 1961 to create financial opportunity for citizens of the Greater New Orleans Area.  ASI helps promote economic empowerment for all members, with special emphasis on creating opportunity for low-wealth, women and minority borrowers.  ASI has provided over one billion dollars in loans since inception and assisted over 100,000 low-wealth and otherwise disadvantaged borrowers with loans for education, transportation, homeownership and microenterprise.  To support innovation and growth, ASI relies on the support of social investors who choose to bank at ASI and members drawn to the double-bottom line mission of the credit union. 

 

ASI is known nationwide for its advocacy of the underserved and in particular for its innovative products and services, including several low-cost alternatives to predatory payday lending.  ASI’s nonprofit affiliate, A Shared Initiative, Inc. supports the credit union through the provision of financial education and lending support for non-traditional borrowers.  We invite applicants drawn to ethical lending and a culture of financial innovation to read about our microentrepreneurs.  

 

The Need for MicroLoans in the U.S.
 

More than 99% of businesses with payrolls in this country are small businesses, according to the Small Business Administration, and those small businesses historically employ more than half of all workers, creating an estimated 80% of new jobs in the U.S.  Small business owners play a large role in an improved economy, more wealth creation for the middle class, lower unemployment, and innovation and growth across all industry sectors.  Micro-enterprise is one of the few ways that many U.S. families raise themselves out of poverty to create prosperity for their families.  Insufficient access to affordable lending capital represents one of the largest obstacles to small business success in our nation.  When you support a Kiva New Orleans borrower, you are supporting the sustainability and growth of many families and businesses who will be positively impacted through an economic multiplier effect.  

 

Loan Products and Services
 

In addition to Kiva New Orleans micro-loans, ASI offers checking and savings accounts, certificates of deposit, mortgage products, auto loans, SBA and other business loans, personal loans, Visa Cards, tuition loans and many other lending products.  Our nonprofit affiliate offers financial education including credit counseling, first time homebuyer education, and foreclosure prevention assistance.  We encourage you to visit our website to learn more about ASI:  www.asifcu.org.