09/22/2026
Over the last 40 years, dozens of black-owned banking institutions have closed, merged or been acquired due to financial distress and regulatory actions. Several black-owned and HBCU-based credit unions have also closed, merged or been acquired since 1986.
So it is with immense pride and thankfulness that the Phi Beta Sigma Federal Credit Union celebrates 40 years of existence.
Thank you to our members and to our leaders who faced tough economic conditions, like many other black banking institutions, but kept our credit union alive.
We mark this milestone as a celebration of the past as we solidify the bright future of the next 40 years.