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Cooperatives = Community Economic Power

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Breaking Bread Cafe

1210 W Broadway Ave.

Minneapolis, MN 55411

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Cooperatives =Community Economic Power
The story of how credit unions build wealth for our common purpose.

Credit Unions have a long history of empowering a community by providing its members the vehicle to create individual and shared economic wealth that can drive their common interests.

CoMinnesota invites you to join us for an intriguing discussion featuring one of the oldest credit unions, Spire, and the Association for Black Economic Power's initiative to start the Village Trust Financial Cooperative in the North Minneapolis community.

Does this story of cooperation sound familiar?

In the historic and economic circumstances of the Great Depression, Twin City Co-ops Credit Union (TCU), was born in 1934 in response to the pricey and strict loan practices of the remaining banks. The ideals of self-help, people working together to save their money, lending to each other, and paying back their earnings to each other in the form of dividends were the pillars of the new credit union.: -- from Spire CU website

Credit Unions have a long history of empowering a community by providing its members the vehicle to create individual and shared economic wealth that can drive their common interests.

Background on Village Trust Financial Cooperative

woman holding economic justice and equity photo

Minnesota Council of Foundations: Fast Forward podcast
The Association for Black Economic Power (ABEP) is working to establish Village Trust Financial Cooperative, Minnesota’s only Black-led financial institution. This concept was born 18 months ago in response to the killing of Philando Castile, as a way to use our economic power as a form of resistance to build the financial resilience of our communities, and insulate against extraction and divestment. This is not a new concept, but a strategy with a legacy woven throughout Black history. Financial liberation through institutional power has long been successfully used in lifting communities from economic pain into promise.

Minnesota's only black credit union takes the next steps in becoming a reality
Cory Zurowski, City Pages, June 17, 2017


...."You cannot throw a rock in any direction and not hit a predatory lender in north Minneapolis," she says. "What this does is take away what's being thrust upon the most vulnerable members of our community and give them equitable products and services that will actually help them."

As an example, Connelly points to the fact that a check cashing business can charge as much 200 percent interest.

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CoMinnesota is bringing people together from many streams of business activity who are all interested in learning more about how cooperative ways of working are helping us build stronger and more resilient thriving communities. We're striving to build a movement working toward building the new economy here in Minnesota. Come join the conversation and be part of the transformation happening here!

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Breaking Bread Cafe

1210 W Broadway Ave.

Minneapolis, MN 55411

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