Arise Community Credit Union

What Arise Community Credit Union does

Arise Community Credit Union is a federally-insured, not-for-profit, member-owned cooperative chartered in Minnesota in March 2024 and opened to members on June 19, 2025. It operates as a community development financial institution targeting Black and other underserved residents in Hennepin and Ramsey Counties, with the explicit mission of providing an alternative to payday lenders and check-cashers. The institution was founded by the Association for Black Economic Power (ABEP) following community advocacy after the 2016 Philando Castile and 2020 George Floyd incidents, and raised over $7 million in capital and deposit commitments prior to launch. Its primary product set includes a Share Draft (checking) account, Share Savings, money market savings, and share certificates; a lending suite spans Phoenix Loans (up to $500), Micro Loans ($200-$2,000), credit builder loans, share-secured loans, auto loans, and overdraft lines of credit. Business banking is announced for 2026.

The credit union's core technology is the It'sMe247 online banking platform paired with a mobile application supporting face and PIN biometric authentication, bill pay, and eStatements. Distribution is primarily digital/virtual, with limited in-person service by appointment at its Minneapolis headquarters, complemented by network access to over 30,000 surcharge-free ATMs through Shazam and over 5,600 credit union branches via CO-OP Shared Branching. Revenue is generated through interest income on the loan portfolio (the primary driver), service fees on transactions (wire transfers, NSF, stop payments, account research), and account-related fees on money market and share draft products. Member acquisition is community-led through ABEP, church partnerships, civic endorsements, and grassroots events such as Saturday Morning Connect and Juneteenth celebrations.

The institution is led by Interim CEO Francis Odhiambo (former Board Chair with two prior credit union CEO tenures), with Debra Hurston as Board Chair. The credit union is governed by a member-elected board, supervisory committee, and credit committee. Key strategic partnerships include MnCUN (state trade association), AACUC (African-American Credit Union Coalition), and the Minnesota Credit Union Foundation, alongside community organizations such as Shiloh Temple and the Urban League. The governance structure reflects historical challenges: ABEP's original 2019 charter attempt was voided by the Minnesota Department of Commerce following fraud and mismanagement allegations against former leadership, requiring a full rebuild under Debra Hurston starting in December 2020.

Name

Arise Community Credit Union

Legal name

Arise Community Credit Union

Website

https://ariseccu.org

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

1–10 employees

Short description

Arise Community Credit Union is a federally-insured, Black-led, not-for-profit community credit union in Minneapolis serving underserved residents of Hennepin and Ramsey Counties, Minnesota, offering fee-free checking, savings, credit-builder loans, and small-dollar lending as an alternative to predatory payday lenders.

Ownership category

akta.pro rank

Product category

Community Credit Union / Consumer Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Community Development Credit Unions (CDCUs) (FSABAEAC)

akta.pro secondary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

Keywords

• Community credit union
• Consumer banking services
• Credit builder loans
• Savings and checking accounts
• Financial inclusion lending

Headquarters

HQ city

Minneapolis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Interest Income from Loans: Arise generates revenue through interest charged on various loan products including personal loans, Phoenix loans, auto loans, micro loans, and share secured loans. Loan products serve as the primary revenue driver for the credit union.
2. Service Fees: Fee-based income from various account services including wire transfers, account research, overdraft/NSF fees, stop payments, and other standard banking services as outlined in the service fee schedule.
3. Share Draft/Money Market Account Services: Revenue from money market account fees (below minimum balance, withdrawal limits) and checking account services

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

Arise Community Credit Union is a member-owned financial cooperative providing consumer banking products and services to underserved communities in Hennepin and Ramsey Counties, Minnesota. Core offerings include fee-free Share Draft checking and Share savings accounts, credit-building loan products (Phoenix Loans, Credit Builder Loans, Micro Loans, Share Secured Loans, Auto Loans, and Overdraft Line of Credit), higher-yield Money Market and Share Certificate accounts, and personalized Financial Planning Services.

Product overview

Arise Community Credit Union offers a unified suite of consumer banking products centered on financial inclusion for underserved communities in Hennepin and Ramsey Counties, Minnesota. The core offerings include Share Draft (checking) and Share Account (savings) products, complemented by credit-building loan products (Phoenix Loan, Credit Builder Loan, Micro Loans, Share Secured Loans, Auto Loans, and Overdraft Line of Credit). The product portfolio was expanded in July 2025 to include Money Market Share Account and Share Certificate of Deposit products. Financial Planning Services provide personalized guidance alongside the banking products. Business Banking services are planned for 2026 launch. All products are delivered through online and mobile banking channels, with the Phoenix Loan specifically designed as a relationship-based credit-building tool that considers factors beyond credit scores.

Differentiator

Problem solved

Functional benefit

Products and services

• Share Draft Account (Checking) Fee-free checking account providing access to funds via checks, debit card, ATM, and online/mobile banking with no minimum balance requirements. For individual members in Twin Cities communities.
• Share Account (Savings) Primary savings account that establishes membership ownership in the credit union, earning quarterly dividends and insured by NCUA. Opens membership with a $10 minimum deposit.
• Phoenix Loan Small-dollar credit-building loan up to $500 with repayment terms up to 6 months at a flat 18.00% APR, designed for members rebuilding credit using a relationship-based review beyond credit scores.
• Credit Builder Loan Secured loan where funds are held in a savings account while the borrower makes payments, building credit history through on-time payment reporting to credit bureaus.
• Micro Loans (MICRO I & MICRO II) Small-dollar short-term loan alternatives to payday loans. MICRO I offers $200-$1,000 with 1-6 month terms; MICRO II offers up to $2,000 with 1-12 month terms.
• Share Secured Loan / Pledged Loan Loan secured by the borrower's own savings account balance, offering lower interest rates than unsecured loans while the collateral continues earning dividends. Rate minimum 4.00% APR.
• Auto Loans Financing for new and used vehicle purchases using the vehicle as collateral, including refinance options with terms not exceeding 72 months. Rates from 4.24% APR (new) to 6.24% APR (older used).
• Overdraft Line of Credit Open-end credit line linked to Share Draft account that automatically covers transactions exceeding available balance, helping members avoid NSF fees.
• Money Market Share Account Higher-yield savings account offering check-writing and debit card access with tiered dividend rates (up to 1.75% APY on balances of $50,000+).
• Share Certificate of Deposit Fixed-rate savings product with terms ranging from 3 to 60 months paying higher dividends (up to 2.90% APY), requiring $500 minimum with early withdrawal penalties.
• Financial Planning Services Personalized financial guidance covering budgeting strategies, debt management support, credit-building strategies, and savings planning for members working toward long-term financial goals.
• Online & Mobile Banking Digital banking platform providing 24/7 account access via web and mobile applications with face authentication, PIN authentication, eStatements, and online bill pay.
• Personal Loans Unsecured personal loans with rates as low as 8.99% APR, available to qualified members at digital grand opening.

Quantifiable outcome

• Low membership threshold of $10 to open account
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Nine partnerships are on record, tiered minor and core.

• VersiqueminorImplementation/ SI/ Consulting Partner · 1 September 2022St. Louis Park-based executive search firm that helped identify and recruit candidates for the CEO position at no charge, forgoing their typical 25% commission. Also helped identify board members.
• Association for Black Economic Power (ABEP)coreStrategic or Co-development Partner · 27 April 2021ABEP is the parent nonprofit organization that founded Arise Community Credit Union. The organization was created to establish a Black-led financial institution addressing systemic financial challenges impacting Minneapolis residents, particularly people of color. ABEP conducted community surveys (2,000 responses), raised capital, and led the chartering process.
• Minnesota Credit Union Network (MnCUN)coreStrategic or Co-development Partner · 27 April 2021State trade association providing mentorship, support, and guidance for the launch of Arise. MnCUN helped organize the official credit union organization meeting and provided ongoing operational support.
• African-American Credit Union Coalition (AACUC)coreStrategic or Co-development Partner · 27 April 2021National organization supporting the launch of Village Financial (Arise) with 'hearts and resources pledged to help catalyze the launch.' Provided expertise and connections within the credit union industry.
• Shiloh Temple International MinistriesminorStrategic or Co-development PartnerBishop Richard D. Howell Jr. opened an account and became an active member. Arise participated in services and community outreach at the church, returning for follow-up events.
• Urban League of the Twin CitiesminorStrategic or Co-development PartnerPartner organization for community events and outreach. Arise joined ABEP at the Urban League open house to connect with community members and civic leaders.
• Association for Black Economic Power (ABEP) - Financial Empowerment CenterminorStrategic or Co-development PartnerABEP's Financial Empowerment Center (FEC) provides financial coaching and education resources referenced on Arise's website as a partner resource.
• Lutunji's Palate Bakery & CafeminorOthersLocal Minneapolis business venue hosting Saturday Morning Connect community meetup events between Arise and ABEP.
• Affirmative Technologies / BCUTechnology or IntegrationListed among supporters on the About page alongside other credit union partners and community organizations.

Scale indicators9 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• First Legacy Community Credit Union: A Black-led community development credit union serving the Nashville metro area. Directly comparable to Arise as one of very few Black-led chartered credit unions focused on financial inclusion for African American communities through credit-building products and small-dollar lending.
• Self-Help Credit Union: One of the largest community development credit unions in the U.S., serving low-income and minority communities across North Carolina and the Southeast. Highly comparable to Arise on mission (financial equity, anti-predatory lending), product mix (credit-builder, micro loans), and community-development charter.
• Hope Credit Union: A community development credit union serving underserved communities across the Mississippi Delta and beyond. Highly comparable to Arise because both are mission-driven CDFIs/CUSO-style institutions focused on financial inclusion for low-income and minority communities, offering credit-builder loans, small-dollar lending, and financial coaching.
• Carver State Bank: A Black-owned community development bank based in Savannah, GA, serving underserved communities for over 90 years. Comparable to Arise as a historic, mission-aligned Black-led financial institution focused on financial inclusion and community reinvestment in underbanked geographies.
• Cooperative Center Federal Credit Union: A community-focused credit union emphasizing cooperative ownership and underserved member service. Comparable to Arise on cooperative governance model, community-development orientation, and relationship-based member service approach.

Regional players

• Liberty Savings Bank (FSL): A community-focused savings institution serving working-class and immigrant communities in the Midwest. Comparable to Arise on community-mission orientation and serving immigrant/minority communities underserved by mainstream banks, though structured as a thrift rather than a credit union.
• Affinity Plus Federal Credit Union: A Minnesota-based community credit union with statewide membership and a focus on financial education. Comparable to Arise as a fellow Minnesota-headquartered community credit union operating in the same Twin Cities market with similar community-outreach and financial-literacy emphasis.
• Wings Financial Credit Union: A large Minnesota-based credit union serving the Twin Cities market with full-service consumer and business banking. Comparable to Arise as a regional credit union competitor in the same Minneapolis geography, offering a similar mix of consumer deposits, lending, and digital banking.

Broad incumbents

• OneUnited Bank: The largest Black-owned bank in America, with a national digital footprint and explicit focus on financial empowerment for Black communities. Comparable to Arise on mission (Black economic empowerment, closing the wealth gap) and on serving Black communities with mainstream banking products.

Others

• African-American Credit Union Coalition (AACUC): A national industry association supporting Black-led credit unions and increasing diversity in the credit union movement. Highly relevant ecosystem peer to Arise, which it actively supported during launch; functions as an enabling organization rather than a direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/TurnerHomeTeam
• LinkedInlinkedin.com/company/arise-community-credit-union

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Arise Community Credit Union