ASI Federal Credit Union
Mignhon Tourné was past President and CEO of ASI Federal Credit Union between 2006 through 2016. Chartered in 1961, ASI FCU, (a U.S. Treasury-designated Community Development Financial Institution), operates fourteen branches in the Metro New Orleans area. ASI’s membership consists of nearly 70,000 members, over 60% of whom live at or below the Federal Poverty Level.
Prior to assuming the leadership role at ASI, Mignhon served the credit union for over 20 years as a volunteer board official, during which she was Board President for over five years. Before coming to ASI, Mignhon served in various management roles over the course of a highly successful career with the Louisiana Medical Mutual Insurance Company (LAMMICO), where she worked as Vice President of Information Technology and Vice President of an in-house Legal Department. As Vice President of Information Technology, Mignhon was responsible for coordinating and directing the development of a long-term strategic plan for the growth and enhancement of LAMMICO’s IT needs. In a separate capacity at LAMMICO, Mignhon managed the Claims Department and served on the senior management team of that organization for many years. During her career, Mignhon also worked at Avondale Shipyards, Liberty Mutual Insurance Company, and with the State of Iowa Crime Commission.
Mignhon was committed to ASI’s primary mission of serving the underserved, and to that end, Mignhon was instrumental in the creation and development of a nonprofit affiliate of the credit union to expand community development programs of the credit union and to promote affordable homeownership opportunities, financial literacy programs and a loan fund for low-income New Orleanians.
Under Mignhon’s leadership as board president, ASI grew from under $10 million in total assets to over $250 million. During her tenure the credit union also chartered eight new low-income communities, became certified as a CDFI, and developed a wide array of anti-predatory lending products for members of low and modest means. Mignhon has been instrumental in the development of two new bilingual ASI branches, one for Vietnamese residents of New Orleans and one for Latino residents of New Orleans.
Following Katrina, Mignhon also helped secure ASI FCU’s selection as an intermediary in the Business Recovery Grant and Loan Program by the Louisiana Department of Economic Development and Louisiana Recovery Authority (today the Office of Community Development-Disaster Recovery Unit). ASI distributed over $20MM in grants and 0-4% loans to disadvantaged business owners who were severely impacted by Katrina.
Mignhon and her team led innovative initiatives to help bridge the gaps to the financially disadvantaged, to include ASI having been chosen as the only regulated financial institution in the U.S. to be selected as a Kiva Field Partner. Kiva, an international leader in micro-finance and peer-to-peer lending, selected New Orleans as its second U.S. Kiva City, thus providing capital access and opportunity to many small business owners who otherwise would be unable to access affordable finance.
Under Mignhon’s leadership, ASI was honored twice as an awardee of the Department of Treasury’s Healthy Food Financing Initiative, a program that allowed the credit union to promote retail access to healthy food by providing competitive financing to groceries, cooperatives, farmer’s markets and other retail projects.
Mignhon is also a visible figure representing ASI in the community, and she possesses a dynamic enthusiasm for encouraging volunteerism in ASI’s employees and board members.
Mignhon received her Bachelor of Arts degree at Southeastern Louisiana University in 1975, with a Major in Political Science and Minors in French and English. She has also completed graduate work in Public Administration and English Literature. Mignhon is an avid community volunteer and served as Treasurer of the Board of Directors of the New Orleans Women’s Shelter and is an Honorary Board Member of Boys Hope Girls Hope of New Orleans. She is was a member of the Advisory Committee of the National Credit Union Share Insurance Fund and is the founding Treasurer of the Board of Directors of Lycee Francais de la Nouvelle Orleans, a public charter school for students who will achieve both the French Baccalaureate and the Louisiana high school diploma in an academically challenging and culturally diverse educational environment. Mignhon is also a black and white photographer, enjoys traveling and spending time in the great outdoors and is presently working to complete certification as a Louisiana Master Naturalist.