Minnesota de novo credit union to ‘Arise’ on Juneteenth
Arise Community Credit Union will officially open its digital doors and begin operations on June 19.
Arise Community Credit Union, which was chartered by the state of Minnesota in 2024, officially launches digitally on June 19.
It is not a coincidence that the group chose Juneteenth as its kick-off date.
The federal holiday commemorates the emancipation of enslaved African Americans in the United States and specifically marks the day in 1865 when federal troops arrived in Galveston, Texas, to announce the end of slavery.
Arise is the first Black-led credit union in the history of the state and the first new state-chartered credit union formed in Minnesota in the last 23 years.
“Launching on Juneteenth is intentional. Arise Community Credit Union represents financial freedom and the power of collective ownership. We are proud to open our doors on a day that symbolizes liberation and opportunity for Black communities,” the company said on its website.
The credit union is based in Minneapolis and had just over $1 million in assets as of March 31, according to call report data from the National Credit Union Administration.
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To mark the moment, Arise is inviting the Twin Cities community to a Juneteenth family celebration at the Minnesota State Capitol on June 21.
“This event is more than a celebration — it’s the beginning of a movement. Arise Community Credit Union is Minnesota’s newest Black-led financial institution, designed to empower individuals and families to own their financial future,” the company said.
The Association for Black Economic Power, under leadership of ABEP Executive Director Debra Hurston, led the creation of the community-focused credit union that will primarily pull its membership from Hennepin and Ramsey counties.
The vision for the credit union was born from North Minneapolis community members who believe that institutional economic power is the critical ingredient to addressing the inequities that Black communities experience in the region.
Arise will initially provide digital-only banking services, with future plans to open a physical branch.
“Launching on Juneteenth is intentional. Arise Community Credit Union represents financial freedom and the power of collective ownership.”
– Francis Odhiambo
CEO
Arise Community Credit Union
