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.
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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.
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