Proposed Minneapolis credit union may be in jeopardy
Board fires executive director for “misconduct of non-profit finances” and other issues; executive director claims racial discrimination.
Minneapolis, MN
A proposed credit union to serve the black community in North Minneapolis that has been in the making since 2017 suffered a major setback after its executive director was ousted for alleged financial misconduct, mismanagement and gross negligence.
The board of directors for the Association for Black Economic Power that is organizing the proposed credit union, Village Financial Cooperative, made these allegations in a prepared statement released last week and reportedly turned over its financial misconduct allegations to Minneapolis police.
Moreover, the ousted executive director, Me’lea Connelly, claimed that she was fired because she reported racial discrimination, according to an article published by the Minneapolis/St. Paul Business Journal on Thursday. She alleged that the organization was “engaging in racially discriminatory behavior,” but she did not offer any specifics or documentation to back up her accusation, according to the media report.
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