Detroit Credit Union Names 1st Black Woman CEO In 94-Year History

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A Michigan woman has become the first Black woman CEO of one of Detroit's oldest credit unions.

According to Fox 2, Sati Smith, 53, was named the CEO of Diversified Members Credit Union (DMCU) earlier this month.

Smith is the first Black woman CEO in the company's 94-year history.

"I was on welfare, I was a single mother," Smith said of her past. "You just have to continue to work hard, and utilize the passion, have that drive - and you will succeed. Don't ever give up."

Smith replaced her mentor, Kathie Trembath, who retired as the credit union's CEO. Smith met Trembath at 26 while her father secured a car loan for her.

After getting a car, Smith went back to school, worked as a teller at Kemba Financial Credit Union, and worked her way up while raising her daughter as a single mother.

"You want to encourage your child to accomplish things, so you have to be an example, and that's what I set out to do," Smith said. "I think that Kathie saw something in me. I believe that she saw something that I didn't see at that time."

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