ASI Federal Credit Union

ASI is a low income designated CDFI serving more than 80,000 Louisiana residents and business owners. The majority of ASI’s financing takes place within the New Orleans-Metairie-Kenner MSA. Chartered in 1961, it has grown to include over 75,000 members, making it the largest Louisiana-based credit union in terms of membership.

ASI Federal Credit Union (ASI) is using HFFI financing for the Healthy Foods Revolving Loan Fund, which was created in 2011 in partnership with the CDFI Fund to strengthen the healthy food distribution network in the New Orleans area. In 2011, ASI was one of 12 Community Development Financial Institutions (CDFIs) awarded grant funds to serve food deserts. The New Orleans Food Co-op, located in the New Orleans Healing Center on St. Claude Ave., is one of the first businesses ASI partnered with to eliminate food deserts in the area. The co-op has remained committed to providing access to healthy food at a fair price with a focus on local and regional food production in the 66 census tracts identified as food deserts in New Orleans.

Projected Impacts

  • Financed the city’s first food co-op
  • Financed a new grocery chain flagship headquarters
  • Financed several smaller food access projects

Source of money: HFFI CDFI-Financial Assistance Program; Fiscal year(s): 2011, 2012