Two organizations, one in New York and the other in California, are looking to be the first credit unions in the nation in more than 20 years to serve gay individuals and their families. Officials believe these people comprise an underserved minority group that is still struggling with financial discriminatory obstacles, myths and other money issues despite greater public acceptance of their lifestyles.

Earlier this year, Superbia USA LLC, a New York City-based organization led by Founder Myles Meyers, raised more than $100,000 in contribution commitments that will be used to establish Superbia Credit Union. The organization, which submitted its application for a state charter in Michigan, has the backing and support of CU*Answers, PSCU, Mastercard, and other companies and individuals that are providing advice and resources for the capital, compliance and operational requirements to secure a charter.

Meyers, an insurance and financial professional who most recently served as the head of strategy and business in global business planning for Foresters Financial, said his research and recommendations from business partners led him to apply for a state charter in Michigan.