Rebuild, repair, recover: Affinity Plus helps the Twin Cities heal
Listening, then acting, has helped the big Minnesota credit union respond to the protests in its hometown.
Minneapolis, MN
On May 25, 2020, a 46-year-old Black man named George Floyd was killed during an arrest in Minneapolis. The next day, protests against police violence began in the Twin Cities of Minneapolis and Saint Paul and have since spread to hundreds of cities across the United States and around the globe.
In some instances, peaceful protests turned into rioting and looting. According to a Star Tribune article published on June 6, more than 500 shops and restaurants in Minneapolis and Saint Paul have reported protest-related damages. Owners and insurance experts estimate those damages could exceed $500 million.
The protests occurred in the backyard of Affinity Plus Federal Credit Union ($2.6B, Saint Paul, MN). For the Twin Cities-based cooperative, the demonstrations underscored two truths. First, it could and should do better on matters of race and equality, inside its walls and out. And, second, it needed to help those affected by the protests. In addition to taking a corporate stand against racial injustice and discrimination, the credit union launched Twin Cities Healing, a fund that coordinates contributions to 10 certified 501(c)3 nonprofits working to address racial injustice, rebuilding efforts, and basic needs. The credit union is distributing $136,000, and members are voting on how to distribute the funds among the approved organizations. To further address these issues, Affinity Plus also created an employee directed fund called Affinity Plus Gives, which made available an additional $200,000 in funding for organizations dedicated to making an impact.
In this Q&A, Affinity Plus CEO Dave Larson discusses the current atmosphere in the Twin Cities, his credit union’s response in the weeks that followed George Floyd’s death, lessons learned in leadership, and more.
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