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Detroit-Based First Independence Bank's Expansion Leads To Minnesota's First Black-Owned Bank

Minnesota just got its first Black-owned bank, and it’s nestled in the twin cities. Specifically located in Minneapolis, Detroit-based First Independence Bank opened its first location outside of Michigan and the new site is the first of two that will be in Minneapolis.

Josh Rodgers

May 5, 2022

Association For Black Economic Power Forms New Alliances To Launch Financial Cooperative

Meet the two forces on a mission to build a village committed to financial well-being. According to Business Wire, The Village Financial Cooperative will be launched thanks to two leading organizations in the credit union sector. “We remain committed to the launch of the Village Financial Cooperative, and will be working in close coordination with both the Minnesota Credit Union Network and the African-American Credit Union Coalition,” said Debra Hurston, Executive Director at the Association for Black Economic Power (ABEP) — who was appointed in December 2020 — in a news release. ABEP is a nonprofit that was birthed right from North Minneapolis community members who believe in the critical need for institutional economic power to address inequities experienced by Blacks in Minnesota. “In addition to the new alliances we are forging within the credit union sector, our objective is to continue to nurture a broad base of support for the Village Financial Cooperative, including...

Shanique Yates

Apr 27, 2021