Black Banks
Here is a listing of African American owned banks with assets totaling approximately $4.7 billion in assets or approximately 0.43 percent of African America’s $1.1 trillion in buying power. In 1994, there were 54 African American owned banks according to the FDIC. Now, there are 21.
If you don't have an account with one, you need to get one asap. It doesn't matter if they are not in your hometown or don't have ATMs near you. If that's the case, then open a savings account with funds you won't immediately need and let those funds sit. These banks are more likely to fund black businesses and black businesses are more likely to hire black workers. It's a win-win.
If you don't have an account with one, you need to get one asap. It doesn't matter if they are not in your hometown or don't have ATMs near you. If that's the case, then open a savings account with funds you won't immediately need and let those funds sit. These banks are more likely to fund black businesses and black businesses are more likely to hire black workers. It's a win-win.
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ALAMERICA BANK
Location: Birmingham, Alabama Founded: January 28, 2000 FDIC Region: Atlanta Assets: $35 404 000 |
BROADWAY FEDERAL BANK FSB
Location: Los Angeles, California Founded: February 26, 1947 FDIC Region: San Francisco Assets: $385 055 000 |
CAPITAL CITY BANK & TRUST COMPANY
Location: Atlanta, Georgia CLOSED Founded: October 3, 1994 FDIC Region: Atlanta Assets: $294 572 000 |
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CARVER STATE BANK
Location: Savannah, Georgia Founded: January 1, 1927 FDIC Region: Atlanta Assets: $41 573 000 |
CITIZENS TRUST BANK
Location: Atlanta, Georgia Founded: June 18, 1921 FDIC Region: Atlanta Assets: $392 286 000 |
CITY NB OF NEW JERSEY
Location: Newark, New Jersey Founded: June 11, 1973 FDIC Region: New York Assets: $340 301 000 |
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COMMONWEALTH NATIONAL BANK
Location: Mobile, Alabama Founded: February 19, 1976 FDIC Region: Atlanta Assets: $63 244 000 |
COVENANT BANK
Location: Chicago, Illinois CLOSED Founded: June 20, 1977 FDIC Region: Chicago Assets: $59 842 000 |
FIRST INDEPENDENCE BANK
Location: Detroit, Michigan Founded: May 14, 1970 FDIC Region: Chicago Assets: $215 924 000 |
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FIRST STATE BANK
Location: Danville, Virginia Founded: September 08, 1919 FDIC Region: Atlanta Assets: $38 882 000 |
FIRST TUSKEGEE BANK
Location: Tuskegee, Alabama Founded: October 11, 1991 FDIC Region: Atlanta Assets: $63 127 000 |
HIGHLAND COMMUNITY BANK
Location: Chicago, Illinois CLOSED Founded: November 09, 1970 FDIC Region: Chicago Assets: $84 948 000 |
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ILLINOIS SERVICE FEDERAL S & L
Location: Chicago, Illinois Founded: January 01, 1934 FDIC Region: Chicago Assets: $140 148 000 |
INDUSTRIAL BANK
Location: Washington, DC Founded: August 18, 1934 FDIC Region: New York Assets: $342 524 000 |
LIBERTY BANK & TRUST COMPANY
Location: New Orleans, Louisiana Founded: November 16, 1972 FDIC Region: Dallas Assets: $545 019 000 |
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MECHANICS & FARMERS BANK
Location: Durham, North Carolina Founded: March 01, 1908 FDIC Region: Atlanta Assets: $304 809 000 |
NORTH MILWAUKEE STATE BANK
Location: Milwaukee, Wisconsin Founded: February 12, 1971 FDIC Region: Chicago Assets: $91 490 000 |
ONEUNITED BANK
Location: Boston, Massachusetts Founded: August 02, 1982 FDIC Region: New York Assets: $590 624 000 |
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SEAWAY BANK & TRUST COMPANY
Location: Chicago, Illinois Founded: January 02, 1965 FDIC Region: Chicago Assets: $573 168 000 |
UNITED BANK OF PHILADELPHIA
Location: Philadelphia, Pennsylvania Founded: March 23, 1992 FDIC Region: New York Assets: $67 930 000 |
UNITY NB OF HOUSTON
Location: Houston, Texas CLOSED Founded: August 01, 1985 FDIC Region: Dallas Assets: $68 125 000 |
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HILL DISTRICT FEDERAL CREDIT UNION
Location: Pittsburgh, PA Founded: 1970 FDIC Region: Pittsburgh Assets:$3 000 000 |