💼Credit unions helping black communities Check out this insightful article from the St. Louis American that highlights the incredible work being done by these financial institutions. 💪💰 🏦 Unlike traditional banks, credit unions are not-for-profit institutions that prioritize the needs of their members. Black-led and Black-serving credit unions understand the unique challenges faced by Black Americans and work tirelessly to address them. 🌟 St. Louis Community Credit Union, for example, is a not-for-profit cooperative owned by its 60,000 members, most of whom are African American. They believe that a sense of belonging is crucial in navigating financial difficulties, seizing opportunities, and building lasting wealth for individuals and their families. 🤝 These credit unions play a vital role in bridging the racial wealth divide, where Black and Hispanic households have only about 10% of the wealth compared to white households. They provide essential financial resources to low-income and underserved communities, making a positive impact on people's lives. 💡 By removing barriers and looking at the full picture of each individual's financial situation, credit unions create an inclusive environment where members can thrive. They prioritize collaboration and personalized service, ensuring that every member feels valued and supported. 🌍 Membership in these credit unions is open to anyone who lives or works in specific regions, making their services accessible to a wide range of individuals. This inclusivity is a key factor in their success in empowering communities. 🔒 At Secure the Bag, we are committed to supporting and promoting black-owned businesses. We believe that by highlighting the positive impact of black-owned credit unions, we can inspire others to join the movement and contribute to the economic empowerment of our communities. 📣 Share this article with your network and let's continue to uplift and support black-owned businesses together! 💪💼 🔗 Read the full article here: https://lnkd.in/gTJPs9eP #SecureTheBag #BlackOwnedBusinesses #FinancialEmpowerment