DETROIT — Michigan just approved a charter for the first LGBTQ credit union, the Detroit Free Press reported Tuesday.
The newspaper said that the state approved the charter on Monday. Myles Meyers, founder and CEO of New York-based Superbia Services, shared a photo of the executive order signing in an LinkedIn post and noted it will be the “first financial institution solely dedicated to serve the LGBTQ community across the country.”
The Free Press said online financial services are expected early next year.
The newspaper said the credit union will offer products such as loans for transgender people paying for transition related care.