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Black Businesses Matter

Black Banks

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.

​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

​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

​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

​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

​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

​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

​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

HILL DISTRICT FEDERAL CREDIT UNION
Location: Pittsburgh, PA
Founded: 1970
FDIC Region: Pittsburgh
Assets:$3 000 000
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