Launch Planning, Timeline & Key Milestones

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

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

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

KEY AFFILIATIONS & SUPPORT RESOURCES

 

  • African-American Credit Union Coalition

  • Hiway Credit Union

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

  • Minnesota Credit Union Network

"If you want to go fast, go alone.
If you want to go far, go together."
-African Proverb
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