Michigan Grants Charter for New Credit Union to Serve LGBTQ Community
Michigan’s regulator approved a state charter Monday for Superbia Credit Union that plans to become the first cooperative to serve LGBTQ individuals and their families nationally.
The state charter was also the first one to be approved in more than three decades by Michigan’s Department of Insurance and Financial Services. Texas was the first state to grant a charter to the First Gay & Lesbian Credit Union in Dallas in 1988, which served 840 members and managed $525,000 in assets. FGLCU was merged out of existence in the 1990s.
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