New Majority Growth Initiative
U.S. Census Bureau data projects that the United States will be “majority-minority,” or majority people of color, by 2043. The New Majority Growth Initiative is a capacity building initiative developed by Inclusiv to support current leaders of Minority Depository Institutions (MDIs) in the mainland U.S., U.S. Virgin Islands, as well as financial cooperatives (cooperativas) in Puerto Rico.
Launched in 2023, participating credit unions and cooperativas are enrolled in an MDI Learning Center or Cooperativa Learning Center which consists of group classes and a collaborative effort to strengthen the growth trajectory of over 100 minority designated financial institutions. Inclusiv has been providing community development finance training, access to tools and best practices, consulting support, and $3.3 Million in grants to MDI CDCUs & cooperativas nationwide.
This initiative is supported by a lead grant from the Citi Foundation’s Community Finance Innovation Fund, with supporting funders JPMorgan Chase, and NerdWallet.
MDI Learning Center Participating Credit Unions
- Border Federal Credit Union
- Chicago Municipal Employees Credit Union
- Church of the Master Federal Credit Union
- Community First Fund Federal Credit Union
- Fidelis Federal Credit Union
- Government Printing Office Federal Credit Union
- Iberville Federal Credit Union
- Sixth Avenue Baptist Federal Credit Union
- Toledo Urban Federal Credit Union
- Urban Beginnings Choice Federal Credit Union
- Urban Upbound Federal Credit Union
- Virginia State University Federal Credit Union
- Chicago Post Office Employees Credit Union
- Citizens Choice Federal Credit Union
- Councill Federal Credit Union
- Frederiksted Federal Credit Union
- Greater Cleveland Community Credit Union
- Heart O’ Texas Federal Credit Union
- Mount Vernon NY Postal Employees Federal Credit Union
- Mount Zion (Indianapolis) Federal Credit Union
- New Covenant Dominion Credit Union
- One Detroit Credit Union
- S.H.P.E. Federal Credit Union
- Unity of Eatonville Federal Credit Union
- Vitelco Employees Federal Credit Union
Centro de Aprendizaje de Cooperativas
- Cooperativa de Ahorro y Crédito Aguadilla
- Cooperativa de Ahorro y Crédito Pepiniana
- Cooperativa de Ahorro y Crédito Oficiales de Custodia
- Cooperativa de Ahorro y Crédito Saulo D. Rodríguez
- Cooperativa de Ahorro y Crédito Mayaguez
- Cooperativa de Ahorro y Crédito Florida
- Cooperativa Ahorro y Crédito Naguabeña
- Universal Coop Federal Credit Union
- Cooperativa de los Empleados de la Corporacion del Fondo del Seguro de Estado
- Cooperativa de de Ahorro y Crédito Lajas
- Cooperativa de Ahorro y Crédito Aiboniteña (Bonicoop)
- Cooperativa de Ahorro y Crédito Jesús Obrero
- Cooperativa de Ahorro y Crédito Agentes de la Lotería de PR
- Cooperativa de Ahorro y Crédito Empleados de Bacardi Corp
- Cooperativa Iglesia de Dios Mission Board
- Cooperativa de Ahorro y Crédito Los Hermanos
- Cooperativa de Ahorro y Crédito Metodistas Unidos de PR
- Cooperativa de Ahorro y Crédito de Empleados Plaza Provision Company
- Cooperativa de Ahorro y Crédito de Tribunal General de Justicia (Judicoop)
- PR Employee Groups Federal Credit Union
- Cooperativa de Ahorro y Crédito Salinas
- Cooperativa de Ahorro y Crédito Intermetro
- Electro Coop
- Cooperativa de Ahorro y Crédito Personal de Ballester Hermanos
MDI & Cooperativa Learning Center participants at Inclusiv Conference 2023 in Memphis, Tennessee
2023 Puerto Rico CDFI Convening, with the participation of 165 leaders from 75 cooperativas (June 2023)
2023 Puerto Rico CDFI Convening, with the participation of 165 leaders from 75 cooperativas (June 2023)
From left to right, Michelle Thornhill, Managing Director, Head US Community Relationships Citi and Pablo DeFilippi, EVP at Inclusiv Network.
Signature of Memorandum of Understanding with University of Puerto Rico Institute of Cooperativism
For more information, please contact:
René Vargas Martínez, Puerto Rico Network Director, Inclusiv
Monica Copeland, MDI Network Director, Inclusiv