ABEP and Village Financial Credit Union
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 that African-Americans experience in our region.
With support from the community, the Village Financial Credit Union can be positioned to provide financial products and services to the unbanked and underbanked residents of the community through a financial cooperative committed to Black leadership and a place focus on economic development in its community of origin. Access to economic resources will provide an opportunity for individuals to manage health, housing, education, and other concerns while breaking the cycle of poverty and economic struggle.
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.