Type Credit union AUM $B USD (2012) Headquarters Ithaca | Industry Financial services Website AFCU Founded 1979 | |
Key people Tristam Coffin, Chairman Products Savings; checking; consumer loans; mortgages; credit cards; online banking; mobile banking; business banking | ||
2010 wachovia next awards finalist alternatives federal credit union
Alternatives Federal Credit Union was founded in Ithaca, New York in 1979. Their primary focus is on providing low cost services to small business, low income households and non-profit organization.
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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.
In 2014, the Credit Union National Association (CUNA) awarded AFCU their 2014 Community Credit Union of the Year Award.