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Michigan approves creation of first gay credit union

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Michigan approves creation of first gay credit union

Michigan approves creation of first gay credit union

 

Michigan has approved a charter for the nation’s first credit union designed for gay and transgender customers.

 

According to Superbia Financial’s website, the credit union will be “opening its virtual doors in early 2020.”

 

“Superbia credit union is owned and guided by its members. An inclusive organization, anyone in support of the LGBT affirming mission is welcomed to join and become a member,” the website reads.


















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Message 1 of 16
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Moderator

Re: Michigan approves creation of first gay credit union

Given it's proposed virtual platform, I wonder what product array they'll feature and whether there will be any geo-restrictions to join? 🤔
Message 2 of 16
Valued Contributor

Re: Michigan approves creation of first gay credit union

I truly don't understand the need for it though. Technically Banks, like "Justice" should be blind. The only relevant info is the ability to pay back the loan, not the dynamics of the couple applying. Or a persons personal matters.

 

Also, doesn't targeting a specific demographic in this way seem counter productive to equality as a whole? Especially when there's an Monetary incentive for said institution? IDK, comes off as a step backwards when you have make a specialized place for certain people.

When considering how many years others faught for equality just to use the same drinking fountains, buses, restrooms etc. 

 

In 2020 it's truly sad stuff like this has to happen, I really thought by now we'd have been more enlightened as a civilzation...

Message 3 of 16
Valued Contributor

Re: Michigan approves creation of first gay credit union


@FinStar wrote:
Given it's proposed virtual platform, I wonder what product array they'll feature and whether there will be any geo-restrictions to join? 🤔

I have a feeling it will be like most CUs that have community-based eligibility along with family relationship to members, company employment, organization membership or even allow a donation to an organization to be eligible to join.


















Your FICO credit scores are not just numbers, it’s a skill.

Message 4 of 16
Contributor

Re: Michigan approves creation of first gay credit union

So do you have to prove your gay to join, that could be interesting 

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Message 5 of 16
Valued Contributor

Re: Michigan approves creation of first gay credit union


@Janus wrote:

I truly don't understand the need for it though. Technically Banks, like "Justice" should be blind. The only relevant info is the ability to pay back the loan, not the dynamics of the couple applying. Or a persons personal matters.

 

Also, doesn't targeting a specific demographic in this way seem counter productive to equality as a whole? Especially when there's an Monetary incentive for said institution? IDK, comes off as a step backwards when you have make a specialized place for certain people.

When considering how many years others faught for equality just to use the same drinking fountains, buses, restrooms etc. 

 

In 2020 it's truly sad stuff like this has to happen, I really thought by now we'd have been more enlightened as a civilzation...


Meyers also said the gay community can be treated differently by lenders than straight people and traditional couples.

“I can walk into a bank or credit union and apply for a loan or credit card or savings accounts and frankly, no problem,” he said. “If I walked into the same institution with my husband, we can come across different responses and welcome. And this is where it all starts to change for the community.”


















Your FICO credit scores are not just numbers, it’s a skill.

Message 6 of 16
Valued Contributor

Re: Michigan approves creation of first gay credit union


@aesl1982 wrote:

So do you have to prove your gay to join, that could be interesting 


Obviously you did not read the article before making your comment.

 

“Superbia credit union is owned and guided by its members. An inclusive organization, anyone in support of the LGBT affirming mission is welcomed to join and become a member,” the website reads.


















Your FICO credit scores are not just numbers, it’s a skill.

Message 7 of 16
Senior Contributor

Re: Michigan approves creation of first gay credit union


@aesl1982 wrote:

So do you have to prove your gay to join, that could be interesting 


Probably not. I think they market it towards LGBT and their allies.

 

 

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Message 8 of 16
Valued Contributor

Re: Michigan approves creation of first gay credit union


@sjt wrote:

@aesl1982 wrote:

So do you have to prove your gay to join, that could be interesting 


Probably not. I think they market it towards LGBT and their allies.


Yeap! Just like NFCU or PenFed, you don't have to have been in the military to belong.


















Your FICO credit scores are not just numbers, it’s a skill.

Message 9 of 16
Moderator

Re: Michigan approves creation of first gay credit union


@Medic981 wrote:

Yeap! Just like NFCU or PenFed, you don't have to have been in the military to belong.


Yes, most likely being a member or supporter of organizations such as GLAD will qualify once they have their affiliates chosen.  Affiliate membership is a common membership opportunity for most credit unions.

 

Also, I'm dropping a friendly reminder that any discussion deemed political in nature is a violation of the TOS.  Let's keep this discussion on the credit union and announcement itself.


Message 10 of 16
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