The Association for Black Economic Power Partners With Versique Search & Consulting to Establish First Black-Led Credit Union in Minnesota

MINNEAPOLIS--(BUSINESS WIRE)--Minneapolis-based Executive Search & Consulting firm, Versique, has partnered with the Association for Black Economic Power (ABEP)—a nonprofit organization created to establish the state's first Black-led credit union to address systemic financial challenges impacting Minneapolis residents.

The Credit Union will be named "Village Financial Credit Union." In the establishment of Village Financial Credit Union, Versique will help identify and recruit qualified candidates for the position of CEO at no charge.

"This is an excellent opportunity for Versique to provide visible and meaningful assistance to a community project that will positively impact the lives of North Minneapolis residents," says Paul Bees, Senior Practice Director for the Banking & Financial Services division at Versique. Versique is a high-performance recruiting firm that specializes in interim solutions, direct hire, and executive leadership search. Versique completed over 220 search assignments in 2021, with 40 executive leadership positions in the past 12 months.

The idea for this project started in 2016 from North Minneapolis community members who strongly believe that institutional economic power is the critical ingredient to addressing the inequities that African-Americans experience in our region. "In addition to offering an array of financial products and services, the credit union will be a tremendous source of pride for the local community and beyond", stated Valerie Geaither, ABEP Board Chair. With support from the community, Village Financial Credit Union will provide services that address the needs of the unbanked, underbanked, and general community through a financial cooperative committed to economic development of the underserved.

Today, there are more than 250 Black-led credit unions managing $7.5 billion in assets. Village Financial will be the first Black- led community credit union in Minnesota. To learn more about this project, visit https://abepmpls.org/ or contact ABEP Executive Director, Debra Hurston.

The Association for Black Economic Power (ABEP) - Mission: Eliminate the pernicious effects of persistent low economic status among African Americans by (a) promoting the creation of prevention and intervention mechanisms to address systemic wealth extraction and economic disparities; (b) promoting the development of products and services to allow for the generation of wealth; and (c) promoting and providing economic alternatives to traditional practices, policies, and behaviors that sustain economic inequality. Learn more at: https://abepmpls.org/

Versique is a high-performance recruiting firm that specializes in interim solutions, direct hire, and executive leadership search. Our team of experienced professionals and seasoned leaders across various areas of expertise and industries have been in your shoes. We quickly assess your whole people picture and identify key elements that will take your business to the next level.