Black Owned-Banks: A Black History Month Feature

As a woman of color in business, I prioritize diversity in all aspects of my life. For the black community, we must invest our money into these banks to slowly close the wealth gap and continue educating the youth and underserved communities. Even if you are looking to support the community as an ally, this is a great way to get started. Let's talk about how you can begin getting involved with black-owned banks, why you should, and resources for you!

Black-owned banks in general provide amazing resources for minorities and communities alike. Not only do black-owned banks support diverse representation within a predominantly white industry but they also continue to create conversations and awareness about the importance and history of institutional racism within banks. Many black-owned banks lend to black businesses, homeowners and nonprofits while focusing on increasing the idea of building wealth in all communities. I've compiled a list of some local banks from various resources of places where you can put your money and begin to support black-owned banks.

Greenwood- ONLINE
MoCaFi- ONLINE
Wicket by Paybby- ONLINE
One United Bank- Boston, MA (CA,FL)
Carver Federal Savings Bank- New York, NY
Democracy Federal Credit Union- Philadelphia, Pennsylvania
Andrews Federal Credit Union- Alexandria, Virginia
Broadway Federal Bank- Los Angeles, CA
​Citizens Trust Bank- AL, GA

As we take this month to reflect on how far we've come, we need to continue to recognize racial disparity in areas of our every day life, finance being a large factor. Investing your money into black-owned banks not only can help you manage your finances and provide resources, but many of these banks also give back to their communities- an important action by corporate America. 


If your looking for information on these banks click here.