The "For Members Only," or FMO, credit union is the first Black-owned, women-led, sorority-based digital banking financial institution in the history of the United States.The "For Members Only," or FMO, credit union is the first Black-owned, women-led, sorority-based digital banking financial institution in the history of the United States.
"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," said Danette Anthony Reed, international president and CEO of AKA Sorority. The FMO is chartered, regulated and insured by the National Credit Union Administration, and will offer primary savings, loans and other banking services during its first year of operations. It's open to AKA members, their immediate families, AKA staff and credit union employees.
Source: Financial Digest (financialdigest.net)
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