Arise Community Credit Union Launches in North Minneapolis as Minnesota’s First Black-Led Financial Institution

Black-Led Credit Union Opens on Juneteenth in North Minneapolis

Minnesota has welcomed its first Black-led credit union. Arise Community Credit Union officially opened its doors in north Minneapolis on Juneteenth. This new financial institution is led by the Association for Black Economic Power (ABEP), a group focused on building economic strength in Black communities.

Located in a historically underserved area, Arise aims to provide fair banking services. Many local residents have lacked access to affordable loans and secure savings options for years. The launch of Arise marks a step forward in closing those financial gaps.

Serving Underserved Communities with Banking Access

The creation of Arise is rooted in years of work and vision. The ABEP was formed following the killing of Philando Castile in 2016. Community leaders saw a need for better economic systems in Black neighborhoods. They believed local residents needed financial tools to grow wealth and take control of their futures.

Arise will offer traditional banking services such as savings accounts, loans, and credit counseling. It also plans to focus on financial literacy. The goal is not just to hold money but to teach members how to build and protect it.

A Community-Owned Bank with a Bold Mission

Credit unions are different from big banks. They are owned by the members they serve. This means decisions are made with community needs in mind, not outside investors. Arise Community Credit Union follows this model closely.

The credit union’s board and staff reflect the diversity of the community. According to organizers, this helps ensure that the people managing the money truly understand the challenges their neighbors face. “We’re doing more than opening a credit union,” one board member said. “We’re opening the door to new possibilities.”

Launch Tied to Juneteenth Celebration

The decision to open on Juneteenth was intentional. Juneteenth celebrates the end of slavery in the United States. By launching on this day, Arise highlights the connection between financial freedom and social justice.

Local leaders and residents attended the opening ceremony. The mood was festive and hopeful. It was not just a ribbon-cutting—it was a celebration of progress and pride in Black leadership.

Building Long-Term Economic Power in Minnesota

Arise Community Credit Union hopes to inspire other communities to build their own financial systems. The founders want to see more people of color owning homes, starting businesses, and avoiding predatory lending.

By rooting itself in the community, Arise offers more than just banking. It offers a path toward generational wealth and stronger neighborhoods. As one supporter said, “This is more than a building. It’s a symbol of what we can do together.”