June 19 commemorates the end of slavery in the United States in 1865, when enslaved people in Galveston, Texas, were informed of their freedom — more than two years after President Abraham Lincoln signed the Emancipation Proclamation.

Arise Community is holding a Juneteenth celebration to raise awareness about the new cooperative’s mission, which is dedicated to providing the tools and resources to help secure a stable financial future for all residents of Hennepin and Ramsey counties.

The credit union’s state charter was approved in March 2024, more than seven years after the Association for Black Economic Power (ABEP) began its journey to establish a financial cooperative to serve North Minneapolis, a predominately-Black community with a long history of economic and racial disparities, including challenges and negative experiences with other financial companies such as payday lenders.

But in 2019, the ABEP pulled its state charter application after suffering a major setback. Its former executive director was ousted for alleged mismanagement and other issues.

Nevertheless, residents of North Minneapolis remained committed to the vision.

After the 2019 disruption, dozens of Minnesota credit unions and industry partners, including the Minnesota Credit Union Network and the African American Credit Union Coalition, stepped in to provide mentorship, technical expertise and capital.

“This is a historic milestone that arrives during a century of credit union service in Minnesota,” Minnesota Credit Union Network President/CEO Mara Humphrey said. “It’s a full-circle moment that honors our movement’s cooperative roots while lighting the path forward. We are thrilled for Arise and look forward to welcoming their new members into the credit union community.”

Peter Strozniak can be reached at [email protected].