The Minnesota Credit Union Foundation (MnCUF) provides resources to help the state's credit unions and communities prosper and thrive – serving as the philanthropic arm of the Minnesota Credit Union movement.
The Association for Black Economic Power (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. ABEP is currently raising capital for post-opening operating expenses for the newly named Arise Community Credit Union (formerly Village Financial).
Credit union history and principles are rooted in serving the underserved and cooperation among cooperatives. To support ABEP in their effort, the MnCUF is seeking to raise $1 million with support from the Credit Union Community.
The MnCU Foundation has established a special fund to receive donations from credit unions and other supporters. Please consider contributing to this effort. Contact Minnesota Credit Union Foundation President Mark Cummins or Executive Director Andrea Molnau to learn more and make your donation.
“Establishing the only Black-led, cooperative credit union in Minneapolis is an opportunity to effect positive change, empower growth and economic stability while directly addressing the core cause of systemic poverty on a variety of levels. The original organizers were very passionate about having a community led credit union that would directly respond to the community wealth gap. Also, having the credit union owned and operated by the community provides a huge source of pride and independence for the members.”
Debra Hurston, Executive Director
Association for Black Economic Power
Additional Information and Resources:
ABEP Monthly Update: August
ABEP Monthly Update: July
ABEP Monthly Update: June
Renée Sattiewhite, CUDE, CDP, President/CEO offers support.
Credit Union or Organizational Contributions
Make your online donation today. MnCUF is a tax-exempt 501(c)(3) organization. For tax purposes, contributions may be tax-deductible. Donations will be held, and then released, to Arise Community Credit Union after regulatory approval to open has been received. Individual donations are non-returnable. In the event regulatory approval is not received, donations made by individuals will be transferred to MnCUF’s General Fund.
Organizations wishing to contribute are asked to complete a contributor agreement and make their donation by check or ACH. Donations will be held, and then released, to Arise Community Credit Union after regulatory approval to open has been received. In the event regulatory approval is not received, donations will be returned to contributors per the agreement.
Contact MnCUF President Mark Cummins or Executive Director Andrea Molnau to learn more and make your donation.
Post-Opening Deposit Pledge
Individuals interested in credit union membership at Arise Community Credit Union who live, work, worship or attend school in Hennepin or Ramsey County, Minnesota, may pledge their support by completing the following survey.
Credit Union Deposit Pledges
Credit unions and partner organizations may pledge to deposit funds up to the $250,000 NCUA Insurance Limit at Arise Community Credit Union once regulatory approval has been received and the credit union is open. To secure your deposit commitment, simply complete the pledge form below, and email a letter on your credit union letterhead to Minnesota Credit Union Foundation Executive Director Andrea Molnau.