Sorority Alpha Kappa Alpha 1st Greek Letter Organization To Launch Credit Union

The first Black sorority Alpha Kappa Alpha (AKA) has launched its own credit union, becoming the first Greek letter organization to achieve the feat. 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, according to a report by ABC7 Chicago, the sorority’s HQ location. The chartered, regulated and insured credit union will reportedly offer savings accounts, loans and other financial to AKA members and their families, along with AKA staff and credit union employees.

Source: Essences