Southern Mutual Health Association Inc. is a 501(c)3, tax-exempt, not-for-profit corporation based in New Iberia, La. It is governed by a nine-member board of directors composed of leaders who reflect the diversity of the areas in which the organization works. The organization’s current President is Lorna Bourg, one of the original co-founders of Southern Mutual Help Association.
SMHA also has created Southern Mutual Financial Services Inc. (SMFS), a wholly-owned subsidiary referred to as an affiliate under non-profit law. SMFS is certified by the U.S. Treasury as a Community Development Financial Institution serving the entire state of Louisiana and is governed by a separate board of directors. As the parent-corporation, SMHA retains veto-authority of the board of directors’ membership. SMHA also provides staff services for SMFS.