Portia Powell’s Historic Rise to CEO and Her Mission to Build Wealth in Detroit’s Black Community

Portia Powell’s rise to the top started in a place familiar to many Detroiters – as a young woman fresh out of college, facing credit card debt and the need for a job. She didn’t plan on staying in banking long, just enough to get by. But what began as a temporary role soon turned into a career path she never expected. Now, Powell is about to make history as the first Black woman to become CEO of One Detroit Credit Union, a financial institution with deep roots in the community.

“I never intended to be a banker my entire life,” Powell reflected. “At 18 years old, I started as a teller because I came home from college with credit card debt and so I needed a job.” Yet, here she stands today, not just any banker but the face and CEO of One Detroit Credit Union, a significant milestone for both her and the city. “It’s obviously an anomaly,” she added.

For Powell, this journey is more than personal success – it’s a victory for representation in an industry where Black women rarely break through to the highest ranks. According to the Credit Union National Association, 51% of credit union CEOs are women, and credit unions are five times more likely than banks to have a woman at the helm. Yet, when it comes to Black women, the numbers dwindle significantly. Powell’s achievement, therefore, isn’t just a win for her, it’s a beacon for others who rarely see themselves in such roles.

Born, raised, and educated in Detroit, Powell started her career as a teller at National City Bank in Royal Oak while she was still a college student in 2003. By January 1, 2025, she will become not only the first woman but also the first Black woman to lead One Detroit Credit Union in its nearly 90-year history. Her rise from the teller window to the CEO’s office is the stuff of legends, but it also speaks to a deeper truth about the power of persistence, community ties, and seizing opportunities when they present themselves.

Powell joined One Detroit in 2023 as executive vice president, knowing that the CEO position would soon be open. She spent the last year preparing herself, putting in the work, and building the relationships necessary to secure her spot. “The entire time I’ve been with One Detroit, I knew that when this time came, I would have an opportunity to go after the job,” she said. “But it’s much different when the process actually starts. It becomes real, and there’s still uncertainty.”

Powell didn’t walk into the position unchallenged. She had competitors, went through interviews with the board, and jumped through the required hoops. But in the end, her experience, her connection to the community, and her hard work won out. “When they made the decision to offer me the job, it was almost like a sigh of relief. Like, wow, this actually happened because so often, you know, we go after things and they just don’t happen.”

The significance of One Detroit Credit Union choosing someone like Powell to lead the organization cannot be overstated. In a city where leadership roles often go to outsiders, Powell is a rare case of homegrown talent being recognized. “Oftentimes in Detroit specifically, we will post these high-profile roles and we go outside of Detroit to get that talent,” Powell said. “I was thankful that One Detroit actually got it right and kept someone from the city who’s deeply tied and connected to it.”

Her connection to the city runs deep. Powell was born and raised on Detroit’s east side, where she graduated from King High School. Her ties to the community are more than just historical; they’re current and thriving. She’s not just a banker but also the owner of one of the hottest bars on the east side, Good Vibes. The bar has become a staple in the East English Village neighborhood, bringing new life to a part of the city that had been left out of mainstream redevelopment.

Good Vibes started as an investment opportunity, Powell said, born from her understanding of wealth accumulation through entrepreneurship, something she noticed while working as a commercial banker. “It turned out to be something super impactful to the neighborhood,” she said. Good Vibes has hosted Detroit’s mayor and lieutenant governor and has become a focal point for community impact, not just a social space. Powell’s ability to blend her financial knowledge with a commitment to community betterment is what sets her apart.

Beyond bars and credit unions, Powell’s focus has always been on creating generational wealth for her family and the Detroit community. She’s spent her career advocating for financial inclusion for Detroiters, and it’s that drive that has kept her in the banking industry. “That’s honestly what kept me in the industry – the knowledge that I had been seeking. Being able to now teach that to other people and bring more people into this financial awareness is what really gave me the passion and drive to stay in the industry.”

For nearly two decades, Powell has been sharing that knowledge, teaching others how to navigate financial systems that often feel inaccessible, particularly to Black communities. Now, as she takes on her new role as CEO, she understands the weight of the responsibility she carries. “There’s going to be a lot of expectations and responsibilities on me to deliver,” she acknowledged. “But I think the most important piece to the community is now knowing that at least they have representation.”

Representation in financial leadership is critical, Powell believes, because it means that the products and services being created will better serve the needs of Detroit’s Black community. She’s committed to building out programming for small business owners and consumers to ensure they have access to capital. As a product of Detroit herself, she knows firsthand what it means to live and work in this city. “There’s no better person who’s truly vested in the city to be able to understand it in its entirety to now lead an organization.”

Her journey from Detroit’s east side to the C-suite is a testament to what’s possible when opportunities align with preparation and purpose. But Powell knows that there’s still much work to be done, particularly in the area of financial literacy and access to capital for Black Detroiters. “We keep saying that African Americans don’t have access to capital. There’s these financial literacy gaps. The way that we do that is by putting more of our people into those seats, so that as products and services are being created, we make sure that our communities are represented.”

One Detroit Credit Union has long been a leader in dismantling the financial barriers that keep Black communities from building wealth. Ninety percent of their loans go to African Americans in the city of Detroit, a figure that Powell is proud of. “We are a minority deposit institution. We’re a community development financial institution. And our products and services have benefited Detroiters more than any other demographic of people.”

As Powell steps into her new role, she’s ready to continue that legacy of service and community impact. She understands that her presence in this leadership position is bigger than just her own success – it’s a win for the community, for Detroit, and for the generations of Black women who will follow in her footsteps.