NewsChicago Leaders Hopeful That Black-Owned Credit Union Will Rectify Wealth Disparity For...

Chicago Leaders Hopeful That Black-Owned Credit Union Will Rectify Wealth Disparity For Black Residents

0
via istock

What leaders see as the true enemy against progression in the predominately Black neighborhoods of Chicago is the “poverty industrial complex,” which consists of businesses and services targeted at the poor, uneducated, or marginalized. These establishments include used car dealerships, check-cashing outlets, pawnshops, payday loan businesses, collection agencies, rent-to-own programs, high-interest credit cards or mortgages, finance companies, and trade schools marketed specifically to the most at-risk residents. “As member-owned not-for-profit institutions, credit unions give back the income they generate to their members and communities,” Steve Bugg, president & CEO of Great Lakes Credit Union, said. “This not-for-profit model allows credit unions like Great Lakes and others to invest in partnerships—like our partnership with the Leaders Network—that support historically divested communities. This also allows us to focus on creating and offering products and services to these communities with a focus on what’s best for the consumer, not what’s best for our profits.”

Source: Black Enterprise

Black Therapist Releases Interactive Board Game to Build Compatibility with Couples or Fun Engagement with a Group

Nationwide — Meet James Harris, an African American father, combat veteran, entrepreneur, and licensed mental health therapist, who has created a board game for...

Three Black Sisters Go Missing in Georgia, Prompting Urgent Search By Local Police Dept

Nationwide — Three teenage sisters from Winder, Georgia — Caidyn, Ashlyn, and Raegyn McCou — were safely located after being reported missing late last...

Nearly 100 Homeless Students From New York City Graduate High School

Nationwide — About 100 high school seniors living in New York City’s shelter system marked their graduation through the 10th annual Future Leaders ceremony....

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest

Black Therapist Releases Interactive Board Game to Build Compatibility with Couples or Fun Engagement with a Group

Nationwide — Meet James Harris, an African American father,...

Three Black Sisters Go Missing in Georgia, Prompting Urgent Search By Local Police Dept

Nationwide — Three teenage sisters from Winder, Georgia —...

Nearly 100 Homeless Students From New York City Graduate High School

Nationwide — About 100 high school seniors living in...

Newsletter

Don't miss

Black Therapist Releases Interactive Board Game to Build Compatibility with Couples or Fun Engagement with a Group

Nationwide — Meet James Harris, an African American father,...

Three Black Sisters Go Missing in Georgia, Prompting Urgent Search By Local Police Dept

Nationwide — Three teenage sisters from Winder, Georgia —...

Nearly 100 Homeless Students From New York City Graduate High School

Nationwide — About 100 high school seniors living in...