The BIG IDEA

MARCH’s BIG IDEA

Economic Empowerment

Economic empowerment and financial stability continue to be major concerns within the African American community.  In the United States, blacks constitute only one-fifth of the nation’s wealth.  March’s featured church, Mount Airy Baptist Church in Washington, DC, under the leadership of Pastor L. B. West, is working to increase that percentage for African Americans.  

The Mount Airy Baptist Church Federal Credit Union (MABCFCU) received its charter in December 1985.  The credit union ministry began operating with only five members and $5,000 from the church.  Today, this financial institution manages over 560 accounts and has assets of $700,000.  Since its inception, the credit union has expanded to offer various account and loan options, including share accounts, Christmas Club accounts, secured and unsecured loans, and new and used car loans.  The credit union also provides credit counseling and financial seminars for its members. 

The Mount Airy Baptist Church Federal Credit Union is a multi-source, low income designated credit union.  Membership is open to Mount Airy members as well as other small groups that have partnered with the church.  This financial institution is highly accessible, requiring a minimum balance of only $5 and a $2 membership fee to open a share savings account.  The credit union president, Mr. Gil Dickinson, along with thirty volunteers, operates the credit union from the church.  Its hours of operation are Sundays from 9:00-10:45AM and 1:00-2:00PM. 

The credit union ministry of Mount Airy has served the Washington, DC community for over 22 years.  With God’s help, this church will continue to economically empower residents of Washington, DC and the surrounding area. This is a mid-size church that is doing BIG things. 

Resources
If your church or community is interested in developing a credit union or in learning about other economic development ideas, the following national and organizations can assist with your efforts:

Some small and mid-size churches that have implemented economic development programs include:

Books