The Association for Black Economic Power informs the community about the status of the black-run credit union

MINNEAPOLIS–(BUSINESS WIRE)–The Association for Black Economic Power (ABEP) recently hosted the first in a series of virtual town hall meetings designed to update community members on the status of the Village Financial Credit Union (VFCU), the first cooperative black-run community credit union in Minnesota. .

The show was hosted by community leader and business owner, Tomme Beevas. “This virtual meeting provides transparency and an opportunity for ABEP to not only highlight where the organization is in the chartering process, but also to introduce the team of credit union professionals assisting in the process. and to give the community the opportunity to have their questions answered. ”

In addition to answering questions from the audience, ABEP Executive Director Debra Hurston also informed attendees that they also had an important role to play. Hurston explained that the community should let regulators know they support the credit union by completing the community inquiry form located at www.learnaboutvillage.org. “By completing the survey, you are telling regulators that you intend to be a member of the credit union and that you support this initiative,” Hurston said.

“It is absolutely essential that we keep the community informed of our journey, which understands our successes and our challenges,” said Valerie Geaither, Chair of the ABEP Board of Directors. “There is nothing easy about this process and we are committed to seeing it through.”

Town hall attendees were also told about the support the proposed credit union is receiving in the form of campaign capital from the Minnesota Credit Union Network (MnCUN). In addition to the fundraising campaign, Mark Cummins, President and CEO of Minnesota Credit Union Network, said, “We are also looking to provide the mentorship and support needed to launch Village Financial Credit Union. Our member credit unions and the staff of the Minnesota Credit Union Network are truly excited to bring the cooperative principles of the credit union movement to this worthy project.

The next two town halls will be Thursday, March 17 and Thursday, March 31, 2022. Both virtual events will begin at 6:00 p.m. and details can be found at www.abeppls.org.

ABOUT ABEP:

The Association for Black Economic Power (ABEP) is a nonprofit organization created to establish a black-led financial institution to address systemic financial challenges affecting Minneapolis residents, especially people of color. This vision was born from members of the North Minneapolis community who strongly believe that institutional economic power is the essential ingredient in addressing the inequalities experienced by black people in Minnesota. Additionally, as a community development organization, ABEP seeks to positively impact the underserved communities it serves from the perspective of affordable housing, workforce development and opportunities. small business acceleration. Learn more about: https://abeppls.org/

Andrew B. Reiter