There’s a ‘Gay Bank’ Now

Ashley (Kimber)

I have no problem with anyone being gay. You’re gay? Cool. I’m not. I find that our value as human beings has nothing to do with our sexual orientations, and therefore I will treat you with the love and respect worthy of your character – not who you love. That is not for me to judge, and I have nothing else to say about it.

Got it? Got it.

This, however, confuses me. My understanding is that gay people use the same currency as straight people, and that a hundred dollar bill is worth the same regardless of who you’re sexually attracted to.

BUT WHAT DO I KNOW?!

Anyway- a gay bank has now been approved in Michigan. You know, for people who feel that making deposits into JP Morgan Chase is way too heteronormative.

According to Daily Wire: 

On Monday, the state of Michigan approved a charter for Superbia Credit Union, which will offer products and services specifically designed to meet the financial needs of lesbian, gay, bisexual and transgender customers, a demographic that has an increasingly appealing buying power for financial institutions.

…wut?

“As the world’s only LGBTQ profit-for-purpose provider, Superbia is here to force the needed systemic change in banking, insurance and healthcare and install a new paradigm in funding LGBTQ social equality,” the credit union’s founder Myles Meyers announced on LinkedIn.

Those words are a whole hell of a lot of fluff. But go on…

“Superbia Credit Union will offer products which are often outside the scope of a more traditional lender, such as loans for transgender people in the process of transitioning, said Myles Meyers, founder of New York-based Superbia Services Inc., which created the credit union,” Bloomberg‘s Jeff Green reported Monday.

Oh. There we go. They give out “transition” loans. That’s literally the thing that makes them different. It’s also a WILDLY risky financial venture. What are you going to do if someone defaults? Repo their fake lady bits?

While corporate America has largely embraced the LGBT community, often advertising that support, and “hundreds of companies have signed on to support federal and state laws to give equal protection to the community,” Green writes, some studies have found that same-sex couples “are less likely to be approved for a loan,” and “pay more for the financing” if approved.

Meyers is making the perception that members of the LGBT community face discrimination in financial services a key component of Superbia’s pitch to customers.

“I was inspired to start Superbia by the sheer lack of needs and equal treatment of the LGBTQ being addressed and provided for in banking, insurance, healthcare and other fundamental services,” Meyers writes on his LinkedIn page. “Obvious and harmful misses are the access to quality LGBTQ-designed products and the delivery of services within an affirming experience guaranteed to be free of intolerance and discrimination.”

Honestly, I find this surprising. Many homosexual couples have double incomes and no kids, so they’re pretty decent candidates for a home loan. Am I missing something?

Anyway – have fun with your gay money, Superbia. Good luck.