THE COMMUNITY SELECTS A NEW NAME FOR THE VILLAGE FINANCIAL CREDIT UNION

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• On July 28, 2022 the community selected Arise Community Credit Union as the new name for the Village financial Credit Union.

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BUSINESS PLAN HIGHLIGHTS:  VILLAGE FINANCIAL COOPERATIVE

 

• Sponsoring Organization:  Association for Black Economic Power

 

• Headquarters:  North Minneapolis

 

• Field of Membership:  Anyone That Lives, Works, Studies or Worships in the Twin Cities

 

• Launch Timeline: Q2 2023

 

HIGH-IMPACT STRATEGY FOR NORTH MINNEAPOLIS

 

• Implement a Financial Empowerment Center Model focused on low-income residents of North Minneapolis in coordination with ABEP and other local nonprofit organizations

 

• Arise Community Credit Union headquarters will be located at 927 West Broadway

 

TECHNOLOGY & OPERATIONS

 

• State-of-the-Art Digital Platform with Mobile and Internet Access Will Launch in Q2 2023

 

• Targeting Q2 2023 for Headquarters Branch Location Grand Opening in North Minneapolis

 

• Shared Branching Services Will Be Available through Other Selected Credit Unions

 

• Existing ABEP Offices Will Also Provide Limited Consumer & Business Services

 

GOVERNANCE & LEADERSHIP

 

• Governance structure will include an 11-Member Board of Directors, 5-Member Supervisory Committee, and 3-Member Loan Committee

 

• Credit Union CEO Search Will Begin in Q4 2021

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KEY AFFILIATIONS & SUPPORT RESOURCES

 

• African-American Credit Union Coalition

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• Hiway Credit Union

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• Inclusiv (formerly known as the National Federation of Community Development Credit Unions)

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• Minnesota Credit Union Network

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