Sati Smith has just made history.
She has been named the first African American woman CEO to lead Diversified Members Credit Union (DMCU), formerly known as Detroit Municipal and Detroit Metropolitan Credit Union. The storied institution was established in November 2, 1929, and the three days earlier, was forced to face the devastating effects of the Great Stock Market Crash of ’29.
Now, nearly 100 years later, it is making incredible strides.
“This a major accomplishment not only for me and my family, but for the entire community,” Smith said in a news release. “It sends a strong message to women and other minorities that we can break glass ceilings. We can accomplish what we want to accomplish. My sincere hope is that this will inspire others.”
She adds: “The foundation of DMCU is the many wonderful people that we serve. We see our members as individuals with their own stories, struggles and triumphs. This approach has kept DMCU going strong for nearly a century and will continue to set us apart in the increasingly competitive financial landscape.”
Diversified Members Credit Union serves nearly 30,000 members, has $500 million in assets, and employs nearly 100 team members at its locations in Detroit, Clawson, and Novi. DMCU offers a comprehensive range of financial products and services, and a robust financial coaching program to meet its members varied needs.
Per a news release, Smith will provide overall leadership and strategic vision for DMCU, working with the Board of Directors to assure adherence to its community-based approach to financial services. She will also play an integral role in developing future goals for DMCU that prioritize the continued support of its diverse membership.
Smith’s inspiring professional journey began when she received her GED, put herself through college, and earned a Bachelor of Social Work from Wayne State University and a Master of Arts from Ashland Theological Seminary. She went on to work her way up the ranks from a data processing clerk to now CEO.
“Every one of our employees knows my story,” she said in a statement. “That’s what motivates me to coach and develop others and help them see their true potential,” she says. “One of my goals is to give employees hope that they can advance, to develop them to achieve something greater. I love people. I love helping people – that’s my passion.”
“Sati’s promotion marks the beginning of reaching new goals and heights in her career and is also the start of a new chapter for DMCU,” said David H. Brooks III, Diversified Members Credit Union Board Chair. “The board of directors is proud of Sati’s accomplishments. We know she’ll be an outstanding mentor and role model, and we look forward to her leadership and innovative initiatives to come.”