ASI Federal Credit Union (ASI FCU) was founded in 1961 and is located in New Orleans. Today it operates 13 branches throughout South Louisiana. Its mission is to strengthen the financial health of underserved communities through financial services and education. ASI will implement the lending piece of the initiative. ASI FCU will screen potential borrowers, perform all due diligence, make loan decisions, and manage the repayment process.

8th Degree is JFSJ’s latest addition to our Hurricane Katrina Recovery and Redevelopment Project, an initiative started in September 2005 in response to the major destruction of low-income communities in the Gulf Coast. The redevelopment effort will take years, and 8th Degree is one important step to helping small businesses rebuild.