Source: DBusiness
One Detroit Credit Union has named Portia Powell as its next CEO, replacing Hank Hubbard, who is retiring after 34 years with the institution. She will take command in January 2025.
Powell is making history as the first woman and African American to lead the credit union in its 90-year history. She is a seasoned leader with more than two decades of experience in the financial services industry.
Hubbard will continue to serve as CEO until Dec. 31, after which he will transition into a consulting role for the credit union, providing guidance and support during the transition.
Powell’s appointment comes as One Detroit Credit Union approaches its 90th anniversary.
“It’s an honor to lead an institution that has been such a vital part of Detroit’s fabric,” says 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.”
Prior to coming to One Detroit, Powell 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, according to credit union officials.
“We are thrilled to announce Portia Powell as our next CEO,” says Hubbard. “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.”
During Hubbard’s more than three-decade-long at the credit union saw “significant” growth and ensured its place as a “vital” resource for the Detroit community. Officials say the financial institution has carved its own lane, serving Detroiters who are typically left out of mainstream banking opportunities through its products designed to meet the unique needs of working Detroiters.
Powell’s appointment marks a 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, according to the institution.
THE AUTHOR: Tim Keenan
