NEW YORKâIn honor of Black History Month, Inclusiv and the African-American Credit Union Coalition are celebrating African American credit unions with the publication of a new e-book that highlights personal stories that exemplify the many ways in which African American CUs help build more prosperous communities and further demonstrate how diversity strengthens communities.
The Stories Highlighted
Among the stories highlighted:
- Highland Park, a city in Metro Detroit, would be a banking desert if not for the branch established by One Detroit CU.
- Greater Cleveland Community CU worked with the city administration to open a vitally needed branch in a shopping center that had lost its anchor supermarket.
- In rapidly-gentrifying Harlem, it's still possible to be denied a bank account because "you don't have enough money," as one member of Abyssinian Baptist FCU found out.
- Credit unions such as Park Manor Christian CU and Stepping Stones FCU are especially attuned to serving members throughout their life cycle, each offering specialized programs and counseling services tailored to help members navigate challenging life transitions.
- MECU serves a diverse membership, providing financial counseling through multiple channels, as well as financial products that help members reduce their debt burden.
- In eastern Alabama. self-employment is a significant source of livelihood for many rural residents. But small loans to help start a business are simply not available from banks, a need that the Phenix Pride FCU has successfully met for many years.
- For more than 60 years, Faith Community United CU has made dreams of homeownership, buying a car and getting a college education a reality for its members.
- Credit unions like Southern Teachers and Parents FCU are reaching far beyond their original boundaries to provide more people the resources for financial well-being.
Click here to download the 2020 African American Credit Unions Build Strong Communities e-book.