Maggie Walker was the daughter of a former slave who believed in giving Black people opportunities never before experienced in a post-Civil War era.
As the first Black woman to start a U.S. bank, her humanitarian efforts focused on building institutions that prioritized Black voices and investment in our communities.
She started the St. Luke Herald newspaper in 1902 and ambitiously opened the St. Luke Penny Savings bank just one year later.
She held positions in her local NAACP chapter, spoke out against the wrongs of segregation, and encouraged boycotts of white establishments long before the Civil Rights Movement.
With the interest earned on investments made to Black-owned businesses and residents, she insisted on opening a department store where Black patrons could shop in peace, free from the oppressive rule of Jim Crow.
Walker was always encouraging her people to recycle the Black dollar. “Let us put our moneys together,” Walker would say.
“Let us use our moneys; let us put our money out at usury among ourselves, and reap the benefit ourselves. Let us have a bank that will take the nickels and turn them into dollars.”
Community leaders fought to have Walker’s incredible story told. In 2017, the city of Richmond erected a bronze statue in her honor.