MN Credit Union Industry Raises Over $1 Million to Support De Novo Arise Community Credit Union7/16/2024
The Minnesota Credit Union Foundation is pleased to announce that $1,038,377 in capital contributions was transferred from the Foundation to the newly chartered Arise Community Credit Union. The MnCU Foundation established a special fund in 2021 to receive donations from credit unions and other supporters. Donations have been held, and have now been released, to the new credit union. Arise Community Credit Union was established to address the harmful effects of systemic exclusion, extraction, and disinvestment in North Minneapolis and other neighborhoods in Hennepin and Ramsey Counties, helping free members from high-cost debt, help them gain control over personal finances, and achieve economic well-being. Arise Community Credit Union is using the capital contributions to secure key vendors, onboard their core provider, and supply their office in preparation for a February 2025 grand opening, timed intentionally with Black History Month. “It blows me away the generosity of the credit union community. Words cannot express our gratitude enough,” said Dan Johnson, CEO of Arise Community Credit Union. “This is a pivotal moment for Arise, our future members, and our community.” Mara Humphrey, President of the Minnesota Credit Union Network and the Minnesota Credit Union Foundation said, “Arise Community Credit Union is a testament to the enduring relevance of the credit union advantage and the cooperative model. The credit union system support reflects the collaborative and cooperative nature of our movement. We are excited for Arise to be able to provide the credit union advantage with their community.” “It is our commitment to be on the other side - to be able to support and give gladly back to the credit union system in the future,” continued Johnson. Comments are closed.
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