Portia Powell is making history at One Detroit Credit Union. Come January 1, she’ll become the first woman and person of color to lead this 90-year-old institution. Powell brings nearly 20 years of banking experience to her new role as CEO.
Breaking Barriers in Detroit’s Financial Sector
Powell’s appointment marks a significant milestone. It’s not just a personal achievement, but a step forward for diversity in finance. Her journey from an 18-year-old newcomer to CEO is nothing short of remarkable.
“Recently, someone told me, ‘Portia, you are an anomaly,’” Powell shared. She added, “It’s both an amazing opportunity and a sad reflection of the times that we’re still experiencing so many firsts.”
From Accidental Banker to Visionary Leader
A Detroit Native’s Rise to Financial Leadership
Powell’s path to banking wasn’t planned. It started with a college mishap involving credit card debt. This led to her first banking job at 18. Over two decades, she climbed the ranks, gaining diverse skills along the way.
“What began as a job evolved into a two-decade career in retail financial services,” Powell explained. Her experience spans from branch management to handling billion-dollar portfolios.
Expanding Access to Financial Resources in Detroit
As CEO, Powell aims to build on One Detroit Credit Union’s community-focused legacy. She’s proud of the institution’s impact, noting, “93% of our loans go to African Americans and people of color, especially here in Detroit.”
Powell plans to boost awareness of their services. She’s also committed to enhancing financial education. “Financial literacy is essential for bettering ourselves and becoming more financially aware,” she emphasized.
Charting a Course for Long-Term Growth
Looking ahead, Powell has big plans. She’s focused on developing products that ensure the credit union’s long-term success. This comes at a crucial time when many financial institutions are closing or merging.
“We’re currently working on an internal strategy to ensure that our employees and team members are financially empowered,” Powell stated. She believes this approach will help them better serve the community.
Empowering Black Women in Finance
Powell is passionate about paving the way for other Black women in finance. She stresses the importance of open conversations about money and financial literacy.
“We need more people fighting for a seat at the table so that when it’s our time, we are understood,” Powell advised. She’s committed to creating pathways for others to follow in her footsteps.
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