AKA sorority opens credit union for members

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The Alpha Kappa Alpha sorority has opened its own incorporated credit union.
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.
FMO's grand opening at the group's international headquarters in Chicago coincided with the 115-year-old sorority's leadership conference.
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.
"Every member will be an owner of the credit union," said Terri Bradford Eason, FMO federal credit union executive director.
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