Association for Black Economic Power Provides Project Update for Village Financial Credit Union

​In recognition of the support from the Minnesota Credit Union Community to launch Village Financial Credit Union, the Association for Black Economic Power (ABEP) is pleased to provide the following update on the status of the charter applications process. ABEP is a nonprofit organization created to establish a Black-led credit union to address systemic financial challenges impacting Minneapolis residents, particularly people of color. Project updates include: 

• ​A press release was sent to credit union trade press regarding the Minnesota Credit Union Foundation Capital Drive. Several articles were published and follow up interviews conducted.
• Sarah Tenney of Affinity Plus Federal Credit Union has joined the Charter Application Steering Committee as a project manager to support this process. A detailed timeline and plan have been developed for the review and completion of the Charter Application.  
• The Board of Directors search continues. With the support of TopLine FCU, ABEP has enlisted the expertise of Versique Executive Search Firm in the search and screening process. Information about this opportunity is posted on MnCUN’s Job Board; and all are encouraged to share with their networks.
• ABEP will conduct a Town Hall meeting on March 3 to reaffirm support and answer questions from the North Minneapolis community about Village Financial Credit Union.

 
A monthly call has been scheduled through MnCUN to provide additional updates and the opportunity to ask questions. Those interested in participating can reach out to Samantha Marks for the log in credentials.
 
The Minnesota Credit Union Foundation is seeking both Capital Contributions and Pledges of Deposit to help support this effort. To learn more about making a financial commitment, visit mncun.org/villagefinancial or contact Minnesota Credit Union Foundation President Mark Cummins or Executive Director Andrea Molnau.