PLEDGES: A CRITICAL INGREDIENT FOR BLACK-LED CREDIT UNION

Media Contact                                                                       FOR IMMEDIATE RELEASE

Debra Hurston

651.278.1926

                March 23, 2021 (Minneapolis, MN) —Minnesota residents are being urged to pledge their support of Minnesota’s first Black-led community credit union.  The organizers of Village Financial Credit Union (VFCU) met with community members during a series of town hall meetings and encouraged the public to show their support by completing the community survey pledge form.

According to organizers, responses to the form is how regulators gauge the community interest and support in having the credit union chartered to become a financial institution that meets their needs.

             The charter application process is being managed by the Association For Black Economic Power (ABEP). “The community’s support is absolutely critical. We need them to voice their support by going to www.pledgevillage.org, and completing the Community Survey form today. The process of bringing in a credit union requires a tremendous amount of effort and input. However, the single most important ingredient is the support of the community stated Debra Hurston, ABEP Executive Director.

            The organization would like to have 1MM in pledged deposits by the end of April. They are currently at 25 percent of their goal. For more information about the credit union or how you can help, go to www.learnaboutvillage.org or email Admin@abepmn.org.

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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 impacting Minneapolis residents, particularly people of color.  This vision was birthed from North Minneapolis community members who strongly believe that institutional economic power is the critical ingredient to addressing the inequities blacks experience in Minnesota.   Additionally, as a community development organization, ABEP seeks to positively impact the underserved communities it serves from the standpoint of affordable housing, workforce development, and small business acceleration opportunities. Learn more at:  https://abepmpls.org/