| Alternatives Federal Credit Union | |
| Type: | Credit union |
| Industry: | Financial services |
| Foundation: | 1979 |
| Location: | Ithaca, New York, United States |
| Products: | Savings |
| Aum: | $B USD (2012) |
| Homepage: | AFCU |
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]
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]