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ASI Federal Credit Union

5508 Citrus Blvd.
Harahan, LA 70123

Contact: Sarah Taylor, Senior VP, Marketing & Community Development
Phone: 504-733-7274
Fax: 504-371-6530
ASI Federal Credit Union

ASI, chartered in 1961, is a low-income community development credit union, certified by the U.S. Treasury as a CDFI. ASI's Mission is to strengthen the financial health of underserved communities through financial services and education. ASI's long-term Vision is the elimination of poverty in all the communities we serve. It is the credit union's ultimate goal to provide affordable financial products and services to people who have traditionally been overlooked by mainstream financial institutions.


ASI is a full-service financial institution, catering to individuals and businesses across south Louisiana. Many communities served by ASI have been left behind by most financial institutions, allowing predatory fringe lenders to take root. ASI has developed several products to assist all members in building or reestablishing credit. Some of the key products offered by ASI include the Stretch Plan, Credit Enhancement Plan, and Asset Builder Loan, which were created to offer low-APR alternatives to predatory lending. The Payday Lender ReBuilder Loan, ASI's newest alternative product to payday lending, was created in response to the growing number of members who become trapped by the cycle of debt, resulting from dependency on multiple predatory payday loans. In exchange for attending a series of free financial education classes, borrowers are able to roll over higher-APR loans to a low-APR consolidation loan at ASI. Additionally, ASI offers a host of non-traditional mortgages for low-income, rural, and first-time homebuyers, and the credit union also provides HUD-certified homebuyer education and one-on-one housing counseling services. In order to combat rising foreclosure rates, ASI recently launched a subprime mortgage refinance program.

Client Population

ASI is a low-income designated CDFI, serving individuals, businesses, and select employee groups (SEGs) in Greater New Orleans and surrounding rural areas. Today, ASI serves nearly 75,000 members in south Louisiana. Throughout the years, most of ASI's SEG population has been comprised of shipbuilders, offshore workers, hotel employees, and other service providers. ASI's entire member base, though drawn from various socioeconomic backgrounds, has traditionally been low-income. Over 60% of ASI's membership falls below the poverty line, and over 50% of members are racial/ethnic minorities.


ASI has a long history of serving the underserved. Our dedication to the working poor is based upon the premise that access to affordable credit is the single most important factor in creating economic opportunity and building wealth for low-income families and communities. ASI employees work hard everyday to provide our members with the financial tools needed to become economically self-sufficient. It is the goal of ASI's board and staff to play an active role in improving the quality of life for local area residents by providing the resources necessary for all individuals to create their own positive change.


ASI Federal Credit Union
In the wake of the vast devastation brought on by Hurricane Katrina, furthering ASIís mission to provide financial products and services to traditionally underserved populations has become more crucial than ever for the New Orleans area. Most members served by ASI have experienced substantial personal losses. Members need continued access to economic opportunity to rebuild their lives. Many ASI members are still homeless; some living in tents waiting for assistance that has not come. Many members are underpaid, underemployed, or have had to relocate in order to find employment opportunities. ASI is committed to being part of the recovery process. Full Story

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