One United Bank is the largest Black-owned bank in the country, with offices in Boston, Miami, and Los Angeles. One look at their debit card options and you can tell they aren’t shy about their loyalty to our people.
They’re tackling the persistent problem of Black communities going underbanked – such as those that have more payday loan shops than bank branches – by making many of their financial products, like checking accounts and secured credit cards, available online.
Thanks to the chairmanship of Dr. Norman Francis, a former president of HBCU Xavier University from 1968-2015, Liberty Bank & Trust’s leadership is intimately acquainted with the financial challenges Black students and young professionals face.
The bank is also a longtime supporter of scholarship organizations such as the United Negro College Fund (UNCF).
Citizens Trust Bank has branches across Georgia and Alabama.
They created a program for primary school students called “How to Do Your Banking” that includes workshops for young people to learn about saving, budgeting, and even basic investing techniques.
Industrial Bank is located primarily in the D.C., Maryland, and Virginia areas.
In the last decade, nearly 60% of its assets were invested into low-to-moderate income communities to help traditionally-rejected candidates enjoy the wealth-building opportunity of homeownership and to provide capital for local business development.
Speaking of business development, The Harbor Bank of Maryland opened the Joseph Haskins, Jr. Center for Community and Economic Development for Black startups and advocacy groups to excel, by providing sorely-needed funding from the bank’s small business fund, coworking office space, and other resources.