Michael Kodjo Anani is the president/CEO of the first federally chartered financial institution created to serve the needs of the African Diaspora in the U.S.

“This landmark moment provides descendants of Africa with a dedicated platform to build economic power and financial independence, joining the ranks of other communities who have long benefited from their own financial networks,” Anani said in a prepared statement. “More than just a bank, the African Diaspora Federal Credit Union represents a movement for empowerment and unity — an opportunity for the African community to take control of its financial future and invest in generational prosperity. With the launch of this credit union, new paths to economic growth, opportunity and self-sufficiency are now open.”

Anani founded the African Diaspora Council and has served as its CEO since 2013.

The African diaspora in the U.S. encompasses a diverse and multifaceted community of more than 48 million individuals, including the long-established African American populations and the more recent immigrants from Africa, the Caribbean and other regions, according to the Pew Research Center in Washington, D.C.

ADFCU is the second federal credit union chartered in 2025. In March, the NCUA granted a federal charter and share insurance fund coverage to Heritage Hub Federal Credit Union in Houston.

“Credit unions have been the answer to financial inclusion for more than 90 years. It’s appropriate that a community organization dedicated to self-help, self-determination and promoting financial security would establish a new federal credit union,” NCUA Chairman Kyle Hauptman said. “Congratulations to the organizers who took this important step and thank you to the NCUA staff who guided them through the chartering process.”

Peter Strozniak can be reached at [email protected].