Organizers in the community of North Minneapolis beset by economic, housing and health disparities are hoping the credit union model will play a key role to bring financial sustainability to people of color who are at the center of the Minnesota paradox.
And in Lincoln, Neb., another credit union that recently secured its charter will give the underbanked and unbanked a new choice to get out from under the crushing scourge of predatory lenders.
While Minnesota carries a reputation of being a highly educated, healthy and progressive state with a thriving economy, the state's prosperity does not include African-Americans.
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