ASI Federal Credit Union Caring For The People
The ASI Federal Credit Union is a not-for-profit cooperative established primarily to financially help communities that are underserved. Since its operation in 1961, this credit union now has a membership of 75,000, composed of those living, working or attending school in any of the following: Westwego, Bridge City, Waggaman, Avondale, Gretna, Harvey, Marrero, South Kenner, Orleans Parish, Lafourche Parish, Evangeline Parish, St. Charles Parish and St. Tammany Parish. In terms of membership, the ASI FCU is said to be among the largest credit unions that is based is Louisiana.
ASI FCU offers much cheaper loan services. It’s Stretch Plan, for instance, has lower interest rate and its open end line of credit is initially up to $200.00. Its Credit Enhancement Plan requires just a $4.00 weekly fee with an open end line of credit of up to $3,000.00. This is the next step after Stretch Plan. The Asset Builder Loan has no fees attached, and yields high interest savings. The loanable amount under this type of plan is up to twice your monthly discretionary income. For every $1,000 loaned, $35 and $15 for payment and savings respectively are required. The Share Secured Loan makes use of shares as security, which earn dividends, while the Yours To Own Loan is a secured loan specifically for use to purchase household essentials, appliances and furniture. It’s actually cheaper than Rent-to-Own. The Freedom/Payday Lender Re-builder Loan is a life saver as you can loan up to $2,500 to pay off your debts with predatory lenders. It provides free credit counseling, too.
Aside from all these, ASI FCU also has special loan programs for educational needs, vacation and holidays, loan consolidation, medical and dental expenses, cosmetic surgery, and many others.
The ASI FCU also offers an exciting line of credit cards that is consumer-friendly. ASI FCU Platinum, Gold, and Classic cards have no annual fee, no cash advance fee and provide a 25-day grace period on all purchases. The VISA Platinum card has a 1% cash back reward on purchases made. The Shared Secured VISA card and the VISA Pass Key card can be used to build a good credit reputation. For members between 18-23 years old, they may avail themselves of the Student VISA credit card.
Other products available include Regular Share Account which is tantamount to a savings account, Share Certificates, Individual Retirement Account, and Money Master Account. The Regular Share Account, which requires a $5.00 share to open and maintain, earns dividends at competitive rates. The Share Certificates or Certificates of Deposit need at least $1,000 deposit. 3-month to 5-year terms are available for this high-yield savings account. The Individual Retirement Account requires a minimum deposit of $100 for the IRA passbook and at least $1,000 deposit for IRA Share Certificates or Money Master Account. The Money Master Account is also a high-yield savings account, requiring a minimum deposit of $1000. You can make up to three withdrawals in a month without fee.
The ASI Federal Credit Union is customer-friendly, too. It’s always ready to give you assistance to make your transactions less stressful and overwhelming. It completely understands your needs and it has all the necessary tools available to make sure that you are well attended to.
Find detailed consumer information for ASI Federal Credit Union