ABOUT US
The Association for Black Economic Power (ABEP) is a transformative organization driving financial empowerment and equity within Black and underserved communities. Since its inception, ABEP has spearheaded impactful initiatives, including the Pimento Relief Fund to support businesses damaged by civil unrest in 2020 and the formation of the Arise Community Credit Union. This credit union, Minnesota’s first Black-led financial institution, emerged as a community-driven solution to systemic financial inequities, offering tools for wealth-building and financial literacy. Through the ABEP Financial Empowerment Center, we provide trauma-informed support to unbanked and underbanked individuals, fostering financial well-being and independence. Our work spans collaborative townhalls, innovative credit union developments, and the launch of comprehensive financial education programs. By addressing systemic barriers and uplifting Black-owned businesses, ABEP creates lasting change, promoting resilience, self-determination, and prosperity for generations to come. Together, we are redefining economic empowerment in Minneapolis and beyond.
JULY 2016: How We Started
In the wake of several police killings, the death of Philando Castile became the catalyst that brought together concerned Twin Cities residents to brainstorm forms of resistance that did not involve putting Black lives at risk. The Association for Black Economic Power (ABEP) emerged from a strategic movement toward Black independence through economic resistance, civil disobedience, and organized investment in the Black economy. Through a series of community meetings, these residents prioritized a campaign focused on Black banking, which ultimately led to the establishment of a Black-led community credit union.
JUNE 2017: Member Pledge Kick-off + the Naming
Unlike banks, credit unions are established by and for their members. The ABEP team set a goal to obtain deposit pledge contributions before opening. At this same event, it was announced that the name of the credit union would be Village Financial Cooperative.
JUNE 2018: Commitment to Financial Literacy
In addition to other services, organizers envisioned providing free financial education. This key educational initiative would provide financial education and literacy to members, which includes low to moderate income communities and small/micro business owners.
2019: Village Financial Trust Project Launch
2020: New Board Chair and Executive Director Take the Reigns
MAY 2020: Pimento Relief Fund
ABEP worked with other community leaders to establish the Pimento Relief Services Fund. The fund was created to support businesses damaged by civil unrest in Minneapolis.
2021: Formation of a New Credit Union Steering Committee
The Arise Community Credit Union (formerly Village Credit Union) Steering Committee played a pivotal role in advancing the mission of ABEP by serving as a community-focused advisory body. This committee ensured the development process and chartering application were guided by community insights, enabling a credit union structure that directly addresses local needs and drives impactful financial empowerment.
MAY 2021 - JUNE 2021: Initiated our Community Townhalls
Following the internal reorganization, ABEP hosted its first in a series of community townhall meetings of 2021 to reconnect with the community, affirm its continued commitment and provide a status update on the credit union.
JULY 2021: Revamped the Village website; Name Changed to Arise Credit Union
The Village Financial Cooperative Credit Union website received an updated look and a major communications campaign was initiated. In 2022, the ABEP Board of Directors was informed of copyright challenges to the name Village. As a result, the organization put a vote before the community for a new name and Arise Community Credit Union emerged.
2022: Launch of the ABEP Financial Empowerment CenterThe ABEP Financial Empowerment Center (FEC) is a program that works with residents within the community, who may be unbanked, underbanked, or victims of predatory lenders, or other fringe banking outlets. The FEC serves as a trauma-informed hub for wealth-building and financial well-being in Minneapolis & other BIPOC communities across Hennepin and Ramsey Counties. Services include access to financial literacy workshops as well as personalized one-on-one financial coaching and counseling.
2022: ABEP Launches Financial Empowerment Center Task Force
A team of community and industry experts guiding ABEP’s Financial Empowerment Center, the Task Force shapes programs, offers strategic insight, and leverages expertise to advance economic growth, financial literacy, and resource access for individuals and families.
2023: Surpassed the credit union deposit pledge goals
MARCH 2024: Received the Arise Community Credit Union Charter
The first Black-led credit union in Minnesota is now state-chartered, the first new state-chartered credit union in the state in 23 years. The Minnesota Department of Commerce issued the certification to Arise Community Credit Union based in north Minneapolis.
JUNE 19, 2025 (JUNETEENTH): Arise Community Credity Union opens virtually.
Arise Community Credit Union opened its doors (digitally - online and through its app) to serve individuals with savings, checking and financial tools designed to help members build wealth and achieve their personal financial goals.
JULY 2025: The Financial Empowerment Center launches free 1-on-1 financial coaching to anyone who registers for services.
APRIL 2023: The Minnesota Credit Union Foundation (MnCUF) and Affinity Plus Federal Credit Union recognized ABEP's Executive Director, Debra Hurston, as a CU Builder, "for work leading the establishment of Minnesota's first Black-led community credit union dedicated to addressing the needs of the residents who live, work, or worship in Hennepin and Ramsey counties."
"Debra is tirelessly and patiently lead all aspects of building Arise Community Credit Union: raising seed funds, recruiting board members, setting up governance, securing advocacy, creating a charter and business plan, hiring a CEO, and more. She’s partnered with dozens of local and national industry and community leaders – including Affinity Plus. She’s an emerging and significant positive force for the credit union philosophy in Minnesota," said Dave Larson, President & CEO of Affinity Plus Federal Credit Union.
(Source: Minnesota Credit Union Network, “The Pulse,” April 2023. Retrieved from https://www.mncun.org/the-pulse/archives/04-2023/2)
OUR SUPPORTERS
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