The Association for Black Economic Power will launch Arise Community Credit Union, the state’s first Black-led credit union, on Thursday, the national Juneteenth holiday.
The North Minneapolis-based credit union is committed to offering accessible banking services and “pivotal resources” to all residents of the state of Minnesota, including clients who have been underserved by traditional banking systems, according to a written statement from the association. Its headquarters are on Colfax Avenue.
Francis Odhiambo, CEO of Arise CCU, called the launch of the credit union a “meaningful occasion.”
“Juneteenth embodies principles of freedom and opportunity, and we take pride in offering a financial institution that empowers our community members to achieve their aspirations,” Odhiambo said in a statement.
According to a 2025 WalletHub report, Minnesota has the fifth largest racial wealth gap in the country. The Federal Reserve Bank of Minneapolis reported in 2024 that Black Minnesotans, on average, earn 60% of what white Minnesotans earn. Arise CCU was founded to help bridge the wealth gap.
The credit union intentionally chose Juneteenth as the day of their opening. According to the credit union, Arise CCU is “proud to open our doors on a day that symbolizes liberation and opportunity for Black communities.”
The credit union “stands as a testament to our dedication to advancing economic equity,” said Juneau Robbins, board chair of the Association for Black Economic Power.
To celebrate the opening, Arise CCU will participate in the Juneteenth Family Celebration from noon to 6 p.m. Saturday at the Minnesota State Capitol. Attendees can stop by Arise’s booth to learn more about the credit union and how to become a member.
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