Arise Community Credit Union, First Black-led Credit Union in Minnesota Receives State Charter3/27/2024
Last week, the Minnesota Department of Commerce announced that they have issued a charter for Arise Community Credit Union, a new credit union to be based in North Minneapolis.
According to the Commerce Department, Arise is first new state-chartered credit union chartered in 23 years in Minnesota and the first Black-led credit union in the history of the state. The Association for Black Economic Power (ABEP), the credit union's sponsor, is a nonprofit organization created to establish a Black-led credit union to address systemic financial challenges impacting Minneapolis residents, particularly people of color. To support ABEP in their effort, the Minnesota Credit Union Foundation (MnCUF) raised over $1 million in capital from support of the credit union community. The MnCUF provides grants, community partnerships, professional development and disaster relief to help the state's credit unions and communities prosper and thrive. Additionally, the Minnesota Credit Union Network (MnCUN) provided guidance and connection to expertise within the credit union community to help ABEP initiate the charter application process. “Arise Community Credit Union is a testament to the credit union advantage. When our values and commitments come together to lift-up and invest in communities, our entire state benefits. The Minnesota Credit Union Network will continue its leadership promoting the cooperative model across Minnesota, to ensure financial access and opportunity for all Minnesotans,” said MnCUN President and CEO Mara Humphrey. Arise Community Credit Union anticipates opening a branch in North Minneapolis later this year and will hold a community celebration on March 28 at 5:30 p.m. at Shiloh Temple in Minneapolis. MnCUN and ABEP are hosting a celebration for credit union contributors following ACCELERATE 24. Learn more about the outstanding programs, new initiatives and well-deserved recognition received by your peers recently:
Got news of your own? Send stories, pitches, press releases and published articles to MnCUN Director of Communications Julia Miller. Three Credit Union Professionals Recognized as Top Women in Finance
Affinity Plus CEO Dave Larson Profiled in the Star TribuneDave Larson, Affinity Plus FCU CEO and MnCUN Board Member was featured in the Star Tribune on Nov. 13.
"This month, Larson is celebrating 10 years as chief executive at Affinity Plus, the state's third-largest credit union with more than $4 billion in assets. He said he strives to engage the credit union's 600 employees — Affinity has been a Star Tribune Top Workplace for the past six consecutive years — and build relationships with its 260,000 members through caring, listening and "running this organization differently." "I love my coworkers," Larson said. "I love the members. I love working for a board that understands who we are. We know that we're 'not for profit.' We take those three words very seriously." 4 Minnesota Credit Union Employees Named Credit Union Rock Stars
The Credit Union Rock Stars program recognizes outstanding credit union professionals and directors from a wide range of disciplines who innovate and inspire to advance the missions of their credit unions. This year’s winners were selected for their exceptional creativity, innovation, and passion. Finance & Commerce Announces the 2023 honorees for Top Women in Finance Each year Finance & Commerce honors the Top Women in Finance in Minnesota. This year’s class includes three credit union professionals Dana Garrett, North Memorial Federal Credit Union and Lisa Lehman, SPIRE Credit Union and Becky Seavey, Mayo Employees Federal Credit Union.
The 31 women will be honored at a networking and awards event on Thursday, Nov. 16, at Quincy Hall, 1325 Quincy St. NE in Minneapolis. Learn more about the outstanding programs, new initiatives and well-deserved recognition received by your peers recently:
Got news of your own? Send stories, pitches, press releases and published articles to MnCUN Director of Communications Julia Miller. Learn more about the outstanding programs, new initiatives and well-deserved recognition received by your peers recently:
Got news of your own? Send stories, pitches, press releases and published articles to MnCUN Director of Communications Julia Miller. Last Friday, the Minneapolis Star Tribune featured credit unions in a Curious Minnesota article, a community-driven reporting project. The article, titled "Why are there suddenly credit unions 'everywhere' in Minnesota?" notes credit unions proactive approach and personal touch in providing financial services as part of the increase in the number of credit union branches and members:
"Credit unions have been opening up more branches across Minnesota in recent years, even as the overall number of credit unions has been shrinking. It's a reflection in part of how much more proactive many credit unions have become about growth, expansion and marketing to stay relevant in a competitive industry." The article also attributes the cooperative model as attractive to new members: "Credit unions offer many similar services as banks, such as checking and savings accounts as well as auto and mortgage lending. But they are also not-for-profit entities owned by their members. So instead of funneling profits back to shareholders, they redirect them back into the organization by offering perks such as reduced fees or lower rates on loans." MnCUN CEO & President Mara Humphrey told the Star Tribune: "We've seen an increase in branches in credit unions in Minnesota and also in the number of branches per credit union." Broader fields of membership and marketing are also attributed to the growth and the article quotes Affinity Plus CEO Dave Larson and SPIRE Credit Union Dan Stoltz. Stoltz. Stoltz told the Star Tribune, "Credit unions have finally stepped up and said, 'Look, you can't sell a secret,' let's talk about who we are." "The more success we have, the more we can give back to the members and give back to the employees and the community as a whole," Larson said. Got news of your own? Send stories, pitches, press releases and published articles to MnCUN Director of Communications Julia Miller. During the month of April, credit unions across Minnesota highlighted the importance of financial education. Last week, Minnesota Credit Unions hosted the life-sized board game, “Go BIG or Go Broke,” at the State Capitol Rotunda to bring the message to legislators that credit unions advance financial well-being for all. The game helps players learn how their choices can impact their financial future and was donated by and offered in partnership with Royal Credit Union. Volunteers from Dawson Co-op Credit Union, Farm Credit Employees Federal Credit Union, SPIRE Credit Union, and Wings Financial Credit Union also participated in the event. AHCU Celebrates Youth Month with Special Youth Day! Hiway Credit Union Earns Two City of St. Paul Financial Empowerment Community Awards Royal Credit Union Celebrates National Credit Union Youth Month We looooooove Youth Month at Northern Communities Credit Union Got news of your own? Send stories, pitches, press releases and published articles to MnCUN Director of Communications Julia Miller. Learn more about the outstanding programs, new initiatives and well-deserved recognition received by your peers recently.
Got news of your own? Send stories, pitches, press releases and published articles to MnCUN Director of Communications Julia Miller.
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