One Detroit Credit Union CEO to Retire at Year-End; Announces Appointment of First Woman CEO

Historic Leadership Transition as Hank Hubbard Retires After 30 Years, Passing the Torch to the first Woman and African American CEO, Portia Powell

DETROIT, Aug. 15, 2024 /PRNewswire/ -- One Detroit Credit Union (1DCU), a cornerstone of financial empowerment in the Detroit community, is proud to announce the appointment of Portia Powell as its next Chief Executive Officer to begin January 2025. Powell, a seasoned leader with over two decades of experience in the financial services industry, makes history as the first woman and African American that will lead the credit union for its 90-year history.

Powell's appointment comes as One Detroit Credit Union approaches its 90th anniversary beginning January 2025, a milestone that coincides with the retirement of Hank Hubbard, who has been a steadfast leader and advocate for the credit union for the past 34 years. Hubbard will continue to serve as CEO until December 31, 2024, after which he will transition into a consulting role for One Detroit Credit Union, providing guidance and support during this pivotal time.

Hubbard's three-decade-long commitment to the brand has left an indelible mark, guiding the organization through significant growth and ensuring its place as a vital resource for the Detroit community. The financial institution has carved its own lane, serving Detroiters that are typically left out of mainstream banking opportunities through its products designed to meet the unique needs of working Detroiters.

"It's an honor to lead an institution that has been such a vital part of Detroit's fabric," said Powell. "I am committed to building on One Detroit's strong foundation while innovating to meet the needs of our members in a rapidly changing financial landscape. Together, we will continue to uplift and empower our community, ensuring that everyone has access to the tools they need for financial success."

Portia Powell brings a wealth of experience to One Detroit Credit Union, having held various leadership positions in major financial institutions where she focused on operations, strategic growth, and community engagement. Her track record of driving financial inclusion initiatives and fostering strong community partnerships will be instrumental in her role as CEO.

"We are thrilled to announce Portia Powell as our next CEO," said Hank Hubbard, the current CEO of One Detroit Credit Union. "Her leadership, vision, and passion for social impact make her the ideal person to lead One Detroit into the future. After 34 years with this incredible institution, I am confident that under her guidance, the credit union will continue to thrive as a beacon of hope and opportunity to our community 2025 and beyond."

Hubbard's retirement marks the end of an era, but his legacy will continue to influence One Detroit Credit Union's path forward. His leadership has been instrumental in cementing the credit union's reputation as a leader in financial empowerment and community support.

As One Detroit Credit Union approaches its 90th anniversary, Powell's appointment marks a significant milestone in the organization's history. Her leadership is expected to usher in a new era of growth and innovation, further solidifying the credit union's role as a leader in the financial services sector.

For more information about One Detroit Credit Union and its services, please visit www.onedetroitcu.org.

MEDIA CONTACT:
Bee Brown
Principal Publicist
On behalf of One Detroit Credit Union
(e)[email protected]
(c) 248.797.1404

About One Detroit Credit Union
Founded in 1935, One Detroit Credit Union is dedicated to serving the financial needs of its members with a focus on community development and support. As a Minority Depository Institution (MDI), and Community Development Financial Institution (CDFI), non-profit, member-owned institution, One Detroit provides credible, fair and reasonably priced financial products and services to the Detroit community, with a special concern for those who have been overlooked by the mainstream banking system.
With a rich history spanning nearly 90 years, One Detroit Credit Union offers a wide range of financial products and services designed to help members achieve their financial goals. Membership is open to all who live, work, worship or volunteer in Wayne, Oakland, Macomb and Washtenaw Counties.

SOURCE One Detroit Credit Union