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ASII (A Shared Initiative, Inc.) is a 501(c) (3) non-profit organization that has been actively assisting with the rebuilding efforts in post-Katrina New Orleans. ASII is the non-profit arm of ASI Federal Credit Union, which is a community development financial institution that was chartered in 1961. With 61 percent of its membership living in poverty, the credit union’s vision to eliminate poverty in the communities it serves became the driving force behind the non-profit’s creation.
Since its inception in 2005, ASII has worked tirelessly to acquire and redevelop blighted and flooded homes in the St. Claude community, which was one of the most devastated areas after Hurricane Katrina. Upon final renovations, ASII sells the homes at discounted rates to low-income homebuyers who receive affordable mortgages made possible through the credit union’s partnership with the nonprofit to provide a matched down-payment assistance program in the form of individual development accounts.
Moreover, ASII is continually striving to revive the poverty-stricken upper ninth ward neighborhood by recently opening the doors to the Clifford N. Rosenthal Community Resource Center. At this time, our community center offers HUD-accredited homeownership counseling, foreclosure prevention and credit counseling, as well as free Volunteer Income Tax Assistance.
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