Local Credit Union President Ashcraft inducted into Credit Union Hall of Fame


Dwayne Ashcraft, Arkansas Superior Federal Credit Union’s President from 1973 to 2022, was recently inducted into the Credit Union Hall of Fame. The ceremony took place at Cornerstone League’s IMPACT Annual Meeting and Forum, held in Grapevine Texas, April 12-14, 2023.

The Hall of Fame was created to honor veterans of the credit union movement who reflect a distinguished history of service, possess singular records of achievement within their credit union, and demonstrate an ongoing commitment of their time, energy, and servant’s heart to benefit many credit unions and people.

After five decades of serving the credit union movement, Ashcraft retired in January 2022. However, he continues his relationship with the credit union as a director on its board.

Under Ashcraft’s leadership, Arkansas Superior FCU grew from $330,000 in assets with 500 members to $76 million in assets and more than 10,500 members. He was so successful, he was inducted into the Arkansas Credit Union Hall of Fame in 2013.

Ashcraft served on the Arkansas Credit Union League board of directors for 18 years and as its chairman for another 10 years. Notably, he was involved in creating the new

Cornerstone League, whose inaugural board Ashcraft served on for three years. He was on the Cornerstone Foundation Committee for several years, and was active in Cornerstone’s governmental affairs committees, ARCUPAC, and CULAC.

In the community, Ashcraft served on the Bradley County Chamber of Commerce, Bradley County Industrial Development, and the Ministers Resource Board. He also is currently serving on the Cleveland County Quorum Court and is Pastor of Chapel Hill Baptist Church.

He was instrumental in representing Arkansas credit unions to Congress as they considered and passed H.R. 1151, the Credit Union Membership Access Act of 1998. H.R. 1151 authorized multiple-group chartering for federal credit unions and made other important changes in the Federal Credit Union Act. The act was signed into law on Aug. 7, 1998.

Ashcraft once told Cornerstone League when featured in the “Leave a Legacy” column, “I have seen a lot of change and been involved in many efforts to preserve the credit union movement and its tax exemption. Throughout these 49 years, I have made a lot of friends in the credit union movement. My success was the result of their help and encouragement.”

One of those friends and colleagues, Greg Morman, has now taken over the role of ASFCU President/CEO and plans to carry on Ashcraft’s legacy of service. Morman started

his career at Arkansas Superior in 1998 and worked his way up the ranks in the financial industry for 25 years before being named ASFCU CEO in 2022. Morman is also a graduate

of the TCU Southwest CUNA Management School.

“With Greg’s knowledge and experience in the financial industry paired with his values and community-minded outlook, I have no doubt that I’m leaving Arkansas Superior in good hands,” said Ashcraft. Morman added, “When people walk into our credit union, we want

them to feel like family. We are here to serve each individual, helping with whatever need they have. I believe our relationships with our members are one of our most valuable assets, and I intend to keep it that way.”

Arkansas Superior Federal Credit Union has been providing financial services to members since 1957. ASFCU is proud to carry on a tradition of offering personal, friendly, and efficient service. The Credit Union is a non-profit organization, owned and operated by its members, people just like you.

As a financial cooperative, Arkansas Superior Federal Credit Union’s profits are returned to members in the form of higher dividends on savings, lower rates on loans, lower fees...and many other money saving services.


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