Alternatives Federal Credit Union
TypeCredit union
IndustryFinancial services
Founded1979
HeadquartersIthaca, New York, United States
ProductsSavings; checking; consumer loans; mortgages; online banking; mobile banking; business banking
AUM$B USD (2012)
WebsiteAFCU

Alternatives Federal Credit Union was founded in Ithaca, New York in 1979. Their primary focus is on providing low cost services to small businesses, low income households and non-profit organizations.[1][2]

History

Alternatives Federal Credit Union initially focused on local co-ops and employee owned businesses, experiencing rapid growth in their first decade. By 1990, they had almost 5,000 members and deposits totaling over $12 million. Part of this community initiative was to start the "Socially Responsible Investment Club," which itself was a credit union for young people. It assisted in starting other credit unions as well, offered seminars on personal finance, low income housing and entrepreneurship.[3]

In 2014, the Credit Union National Association (CUNA) awarded AFCU their 2014 Community Credit Union of the Year Award.[4]

See also

References

  1. ↑ Jones, Ellis; Johnson, Brett; McIntosh, Diane (2007). The Better World Handbook. New Society Publishers. pp. 61–62. ISBN 9780865715752.
  2. ↑ "SBill Myers named to State of New York Mortgage Agency". Real Estate Weekly. January 7, 2009.
  3. ↑ Mahalingam, S. (1993). Labour Participatory Economy. Mittal Publications. p. 265. ISBN 81-7099-414-4.
  4. ↑ Cerquone, Suzanne (10 October 2014). "Alternatives Wins Credit Union of the Year". Lansing Star. Retrieved 13 October 2014.
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