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Association for Black Economic Power Updates Community on Status of Black–Led Credit Union

Press release content from Business Wire. The AP news staff was not involved in its creation. ....

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Group seeks $6M to revive plans for Black-led credit union

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A group created to foster the financial independence of north Minneapolis residents has revived an effort to create the first Black-led credit union on the North Side.
The Association for Black Economic Power (ABEP) has brought on new staff and board members to bring to fruition Village Financial Cooperative and is seeking $6 million from the city to get it off the ground.
The credit union has the potential to be a source of hope, a source of pride, and just a new beginning, said Debra Hurston, ABEP s new executive director. And I just think the community deserves to know that their original mission has not been abandoned. ....

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Association for Black Economic Power Creates New Alliances with Leading Community-Based Organizations and Credit Union Industry Partners for the Launch of Village Financial Cooperative

Association for Black Economic Power (ABEP) announced today new support for the launch of the
Village Financial Cooperative from two leading organizations in the credit union sector. “We remain committed to the launch of the Village Financial Cooperative, and will be working in close coordination with both the Minnesota Credit Union Network, and the African-American Credit Union Coalition,” said Ms. Hurston.
Mr. Mark Cummins, President & CEO of the Minnesota Credit Union Network said, “We’re seeking to provide the critical mentorship and support needed for the launch of the Village Financial Cooperative. Our member credit unions and the staff at the Minnesota Credit Union Network are truly excited to bring the cooperative principles of the credit union movement to this worthy project.” ....

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