CHICAGO–Alpha Kappa Alpha (AKA), the first Black Greek sorority ever, has officially opened its own credit union, For Members Only FCU.
According to the organization, For Members Only CU is the first Black-owned, women-led, sorority-based digital banking financial institution in the history of the U.S. The sponsor organization is based in Chicago.
“Everyone doesn’t understand the impact we make financially, so you have to start doing things so folks know we know how to control our money,” Danette Anthony Reed, International President and CEO of the sorority, told ABC7.
FMO will offer services to Alpha Kappa Alpha members, including their families, as well as staff of the sorority.
The effort has been years in the making and began with a desire to help create economic health and financial stability for women of color.
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