Minnesota Credit Union Foundation Announces Capital Drive to Support Tribe Federal Credit Union

Based on the success of our collaborative efforts to support Arise Community Credit Union, the Foundation again invites credit unions, individuals, and other organizations to participate in further opportunities to grow the credit union movement with De Novo Credit Unions in Minnesota. 

MnCUN has been working to assist Tribe Federal Credit Union, founded by African American members who started as a lending club. Tribe is the first federal credit union to receive a charter under the NCUA’s provisional charter pilot initiative. This pilot allows credit union’s organizers to obtain a federal credit union charter and provides them 12 months to obtain the capital necessary to begin operations. A charter under the provisional pilot initiative does not authorize a credit union to accept member deposits or originate loans until the credit union obtains its targeted level of donated capital.

MnCU Foundation is currently supporting a capital drive for Tribe Federal Credit Union. And due to a special donation, contributions will be matched dollar for dollar up to $150,000 if made by June 30, 2025.

Credit union history and principles are rooted in serving the underserved and cooperation among cooperatives. Please consider contributing to this effort. To learn more about Tribe and make a contribution, visit mncun.org/denovo.