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One Detroit Credit Union Taps Stephanie Peoples as COO to Deepen Community Wealth and Advance Economic Justice

April 15, 2025

One Detroit Credit Union has named Stephanie Peoples as its new Chief Operating Officer, bringing over 20 years of financial services experience to expand access and build solutions rooted in the financial realities of Black Detroiters. Peoples joins CEO Portia Powell, the organization's first African American woman chief executive, forming a leadership team focused on strengthening outreach, innovation, and financial equity. With a background at JPMorgan Chase where she held key leadership positions including district manager and senior business consultant under the Minority Entrepreneur Program, Peoples plans to focus on operational soundness, business lending growth, and stronger community partnerships.

Who is affected

  • One Detroit Credit Union members
  • Black Detroiters and underserved communities
  • Small business owners, especially those historically excluded from lending
  • Detroit households trying to build wealth
  • Credit union employees and teams
  • Community educators and nonprofits (as potential partners)
  • Youth (through savings account initiatives)

What action is being taken

  • Stephanie Peoples is stepping into the role of Chief Operating Officer at One Detroit Credit Union
  • Portia Powell is currently serving as the credit union's first African American woman CEO
  • One Detroit Credit Union is aligning its operations with its founding community-first principles
  • The credit union is positioning itself for stronger outreach and community engagement
  • Peoples is focusing on expanding core services and improving internal systems
  • The organization is working on promoting financial literacy and developing member-focused innovations

Why it matters

  • One Detroit Credit Union was founded to serve people overlooked by mainstream financial institutions
  • Detroit's financial landscape continues to be shaped by historical discriminatory lending, redlining, and disinvestment
  • Access to wealth-building tools requires leadership that understands both barriers and solutions
  • The credit union's community-first approach addresses real financial challenges facing Black households
  • Having experienced African American women in leadership positions represents a deliberate move toward accountability
  • The credit union's work addresses systemic inequities that still affect Detroit communities

What's next

  • No explicit next steps stated in the article

Read full article from source: Michigan Chronicle