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THE FIRST BLACK-LED COMMUNITY CREDIT UNION NEARING REALITY IN MINNEAPOLIS



Community Action Requested for Essential Public Support



MINNEAPOLIS, MN (July 18, 2022)—The Association for Black Economic Power (ABEP) is hosting a virtual town hall meeting on Thursday, July 28 at 6:00 p.m. for Twin Cities residents to unveil the new name and update the community on the status of the credit union charter application.


Due to many financial organizations using “village” in their names, and to avoid further delays with approval of the charter; the ABEP Board of Directors have decided to change the name of the new credit union, explained Debra Hurston, ABEP Executive Director. In addition to unveiling the new name, ABEP will provide an update on the progress of the De Novo credit union status; and request critical participation still needed from the community before it submits the charter application.


Residents will have an opportunity to weigh in on the new name of the credit union by voting online. There will be two names for each voter to choose from and the name with the greatest votes will be announced during the town hall meeting. All residents of Hennepin and Ramsey counties are strongly encouraged to visit learnaboutvillage.org, then:


  • Vote for one of the two proposed credit union names. Voting will end at 11:59 p.m. on Wednesday July, 27th

  • Register for the virtual town hall meeting to receive updates and live results; and lastly

  • Tell the regulators you support the credit union by making a pledge of support and filling out a short survey.

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The Association for Black Economic Power (ABEP) Mission: Eliminate the pernicious effects of persistent low economic status among African Americans by (a)promoting the creation of prevention and intervention mechanisms to address systemic wealth extraction and economic disparities; (b) promoting the development of products and services to allow for the generation of wealth; and (c) promoting and providing economic alternatives to traditional practices, policies, and behaviors that sustain economic inequality.

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