A proposed black-led credit union in North Minneapolis has changed its name.
The Association for Black Economic Power has decided to rebrand the proposed Village Financial Credit Union as Arise Community Credit Union. Organizers are planning for the credit union to serve members in Hennepin and Ramsey counties.
The group decided to scrap the Village name to avoid confusion with other financial institutions currently using that word. More than a dozen other names were considered; roughly 90% of stakeholders that were poled chose the Arise brand.
“Next steps include pulling together the credit union’s board … and key committees, as well as putting the final touches on the charter application documents before submitting for operational approval this fall,” Debra Hurston, ABEP’s executive director, said in a press release.