Black Enterprise; Published By Stacy Jackson
Alpha Kappa Alpha Sorority, Inc members recently participated in a special ribbon-cutting ceremony.
The organization held a grand opening for its new “For Members Only” (FMO) credit union. The ribbon-cutting occurred at the organization’s corporate headquarters in Chicago, ahead of the 2023 Leadership Seminar.
“FMO is the first Black-owned, women-led, sorority-based digital banking financial institution in the history of the United States, and some of our Sisters even signed up on-site!” the organization wrote on Instagram.
ABC7 reported that the 115-year-old sorority initiated plans for the credit union a few years ago, focusing on efforts to generate economic and financial stability for women of color. “Everyone doesn’t understand the impact we make financially, so you have to start doing things so folks know we know how to control our money,” Danette Anthony Reed, international president and CEO of AKA Sorority, told the outlet. Read more
