Mignhon Tourné, president/CEO of the 59,000-member,$317 million ASI Federal Credit Union will step down from her position in2016, the cooperative said Thursday.

Tourné has held the position for nine years and served on thecredit union's board of directors for 20 years, according to ASIFCU.

During her 29-year tenure, ASI FCU grew from $10 million to $315million in assets; chartered eight new low-income communities;became certified as a community development financial institution,completed nine mergers, one purchase and one acquisition; anddeveloped a wide array of anti-predatory lending products formembers of low and modest means.

Tourné was elected to the ASI FCU's board of directors in 1986as a director, and later became board secretary and ultimatelyboard chair before taking the helm as president/CEO.

In 2006, she relinquished her position as board chair to acceptthe position of president/CEO as the credit union recovered fromHurricane Katrina. The storm's effects on the credit union includeddisplaced employees and members, destroyed branches and majorfinancial losses.

In the spirit of its historic mission to strengthen thefinancial health of underserved communities, ASI FCU said it wasdetermined to help members in any way possible during thatchallenging time. Tourné's efforts included net worth restoration,approximately $14 million in CDFI awards, and more than $375million in community development consumer, business and real estateloans, which included one state-funded program targeting nonmembersin 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 toserve as a consultant for the credit union in the future.