Mignhon Tourné, president/CEO of the 59,000-member, $317 million ASI Federal Credit Union will step down from her position in 2016, the cooperative said Thursday.
Tourné has held the position for nine years and served on the credit union's board of directors for 20 years, according to ASI FCU.
During her 29-year tenure, ASI FCU grew from $10 million to $315 million in assets; chartered eight new low-income communities; became certified as a community development financial institution, completed nine mergers, one purchase and one acquisition; and developed a wide array of anti-predatory lending products for members of low and modest means.
Tourné was elected to the ASI FCU's board of directors in 1986 as a director, and later became board secretary and ultimately board chair before taking the helm as president/CEO.
In 2006, she relinquished her position as board chair to accept the position of president/CEO as the credit union recovered from Hurricane Katrina. The storm's effects on the credit union included displaced employees and members, destroyed branches and major financial losses.
In the spirit of its historic mission to strengthen the financial health of underserved communities, ASI FCU said it was determined to help members in any way possible during that challenging time. Tourné's efforts included net worth restoration, approximately $14 million in CDFI awards, and more than $375 million in community development consumer, business and real estate loans, which included one state-funded program targeting nonmembers in need of small business loans.
Tourné said she will keep her position with the Harahan, La.-based cooperative until a replacement is found, and plans to serve as a consultant for the credit union in the future.
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