Business View Magazine June 2023

108 BUSINESS VIEW MAGAZINE VOLUME 10, ISSUE 6 Visa is known as a trusted network and world leader in digital payments, connecting cardholders, businesses, financial institutions and governments in more than 200 countries and territories worldwide. But that’s only part of the Visa story. We’re also a trusted partner to local banks and credit unions, employing the power of our brand, industry influence and collective voice to help spark positive change in the communities where we work and live. Our Community Accounts teams are located in eight regions across the country to help you stay competitive while also engaging in activities relevant to the needs of your local communities. We understand how crucial community financial institutions are to their communities and we are committed to your success. Learn about how we can help you and your community thrive at visa.com/communityissuers ALTERNATIVES FEDERAL CREDIT UNION Alternatives Federal Credit Union was founded in Ithaca, New York in 1979 as an alternative to conventional banking. The focus would be on providing low-cost services to small businesses, low-income households, and non-profit organizations. The mission statement is to build and protect wealth for people with diverse identities who have been historically marginalized by the financial industry, especially those with low wealth or who identify as Black, indigenous, or people of color. This grand vision was backed up by passionate, community-minded leadership, leading to quick growth. By 1990, there were almost 5,000 members at Alternatives, with deposits totaling over $12 million. In 2014, the Credit Union National Association (CUNA) awarded AFCU their 2014 Community Credit Union of the Year Award. A great example of the alternative way in which this institution approaches banking is found in its newMortgage lending vehicle, The FAIR Mortgage (Finance Addressing Inequality and Racism) which has been completely redesigned from the ground up, line by line, to look at what is possible when it comes to lending money for home ownership.