Our community is one of the only ones that does not invest in itself. We are holding ourselves back economically by spending our money in every other community but our own. In todays world money is power. How much "power" have you given away this year? How many black owned businesses did your money support before it left the community. Before we can rebuild our community, we must first invest in it. This page is for all those who are looking for a black owned business to support.


Mothership connection is a partnership website that lists various black owned businesses around the country. Copy and paste then let the journey to group economics begin.
http://mothershipconnection.wix.com/mothershipconnection

 

DIRECTORY OF BLACK OWNED BANKS & CREDIT UNIONS IN THE USA

http://hbcumoney.com/2013/03/01/2013s-african-american-owned-bank-directory/

 

All banks are listed in alphabetical order. In order to be listed in the HBCU directory the bank must have at least 51 percent African American ownership. You can click on the bank name to go directly to their website.

 

There are 21 African American owned banks with assets totaling approximately $4.7 billion 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. Wake up Black people. If you don't put dollars in your own banks which are there to serve the unique needs of our community, who will?

 

ALAMERICA BANK

http://www.alamericabank.com/

Location: Birmingham, Alabama

Founded: January 28, 2000

FDIC Region: Atlanta

Assets: $35 404 000

 

BROADWAY FEDERAL BANK FSB

http://www.broadwayfederalbank.com/

Location: Los Angeles, California | Inglewood, CA

Founded: February 26, 1947

FDIC Region: San Francisco

Assets: $385 055 000

 

CAPITAL CITY BANK & TRUST COMPANY

http://www.capitolcitybank-atl.com/

Location: Atlanta, Georgia

Founded: October 3, 1994

FDIC Region: Atlanta

Assets: $294 572 000

 

CARVER STATE BANK

www.carverstatebank.com

Location: Savannah, Georgia

Founded: January 1, 1927

FDIC Region: Atlanta

Assets: $41 573 000

 

CITIZENS TRUST BANK

http://www.carverstatebank.com/

Location: Atlanta, Georgia

Founded: June 18, 1921

FDIC Region: Atlanta

Assets: $392 286 000

 

CITY NB OF NEW JERSEY

https://www.citynatbank.com/

Location: Newark, New Jersey

Founded: June 11, 1973

FDIC Region: New York

Assets: $340 301 000

 

COMMONWEALTH NATIONAL BANK

http://www.ecommonwealthbank.com/

Location: Mobile, Alabama

Founded: February 19, 1976

FDIC Region: Atlanta

Assets: $63 244 000

 

COVENANT BANK

http://covenant-bank.com/

Location: Chicago, Illinois

Founded: June 20, 1977

FDIC Region: Chicago

Assets: $59 842 000

 

FIRST INDEPENDENCE BANK

http://www.firstindependence.com/

Location: Detroit, Michigan

Founded: May 14, 1970

FDIC Region: Chicago

Assets: $215 924 000

 

FIRST STATE BANK

http://www.efirststatebank.com/

Location: Danville, Virginia

Founded: September 08, 1919

FDIC Region: Atlanta

Assets: $38 882 000

 

FIRST TUSKEGEE BANK

https://www.firsttuskegeebank.com/

Location:Tuskegee, Alabama

Founded: October 11, 1991

FDIC Region: Atlanta

Assets: $63 127 000

 

ST. LOUIS COMMUNITY CREDIT UNION (Formerly, GATEWAY BANK - St. Louis)

https://www.stlouiscommunity.com/

http://news.stlpublicradio.org/post/ten-percent-households-st-louis-area-dont-use-banks-heres-why-and-whats-being-done

http://www.stlamerican.com/business/local_business/article_11a0e98a-02a3-11e2-b53c-0019bb2963f4.html

http://www.stltoday.com/business/local/sba-loans-to-black-entrepreneurs-drop-dramatically/article_afd4254d-31d5-5abd-91f4-b6b810e14563.html

 

HIGHLAND COMMUNITY BANK

http://highlandcommunitybankchicago.com/index.php

Location: Chicago, Illinois

Founded: November 09, 1970

FDIC Region: Chicago

Assets: $84 948 000

 

ILLINOIS SERVICE FEDERAL SAVINGS & LOAN

http://www.isfbank.com/

Location: Chicago, Illinois

Founded: January 01, 1934

FDIC Region: Chicago

Assets: $140 148 000

 

INDUSTRIAL BANK

http://www.industrial-bank.com/

Location: Washington, DC

Founded: August 18, 1934

FDIC Region: New York

Assets: $342 524 000

 

LIBERTY BANK & TRUST COMPANY

http://www.libertybank.net/

Liberty, one of the nation's largest African-American-owned banks, has 20 branches in four states, including locations in Mississippi and Texas. The Douglass National deal raises Liberty's asset base to $373 million. 

Location: New Orleans, Louisiana

Founded: November 16, 1972

FDIC Region: Dallas

Assets: $545 019 000

 

MECHANICS & FARMERS BANK

https://www.mfbonline.com/main/index2.html

Location: Durham, North Carolina

Founded: March 01, 1908

FDIC Region: Atlanta

Assets: $304 809 000

 

NORTH MILWAUKEE STATE BANK

https://nmsbank.com/

Location: Milwaukee, Wisconsin

Founded: February 12, 1971

FDIC Region: Chicago

Assets: $91 490 000

 

ONEUNITED BANK

https://www.oneunited.com/

In the past two years, we have financed over $100 million inloans – most in low to moderate income communities such as South Central, Compton, Liberty City and Roxbury. However, we never participated in subprime lending. We have always experienced low loan losses.

Our growth has been through acquiring community banks across the country that are equally dedicated to our mission including – Founders National Bank of Los Angeles, Family Savings Bank in Los Angeles, California, Boston Bank of Commerce in Boston,Massachusetts and People’s National Bank of Commerce in Miami, Florida.

 

Founded: August 02, 1982

FDIC Region: New York

Assets: $590 624 000

 

SEAWAY BANK & TRUST COMPANY

http://www.seawaybank.us/

Location: Chicago, Illinois

Founded: January 02, 1965

FDIC Region: Chicago

Assets: $573 168 000

 

UNITED BANK OF PHILADELPHIA

http://www.ubphila.com/

Location: Philadelphia, Pennsylvania

Founded: March 23, 1992

FDIC Region: New York

Assets: $67 930 000

 

UNITY NB OF HOUSTON

http://www.unitybanktexas.com/

Location: Houston, Texas

Founded: August 01, 1985

FDIC Region: Dallas

Assets: $68 125 000

Source: FDIC

 

TriState Bank of Memphis Tenessee

http://www.tristatebank.com/

 

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AFRICAN AMERICAN OWNED CREDIT UNIONS

 

http://hbcumoney.com/tag/african-american-credit-unions/

 

 

 

 

 

With the rising fees and big CEO salaries of Wall Street’s corporate banking giants, is it time to return to “our” banks?

http://www.bet.com/news/national/2011/10/21/should-you-be-banking-black-.html

 

Historically, Black-owned banks were important institutions in the African-American community that provided loans and services to Blacks when white institutions refused. [http://en.wikipedia.org/wiki/Racial_inequality_in_the_United_States] Black banks allowed African-Americans to progress economically by allowing them to obtain loans to purchase homes and start businesses. Today, these banks remain relevant for many of the same reasons, but have been edged out by fierce competition from corporate rivals and economic losses brought on by the recession.

 

The push behind a Black-owned banking renaissance is a lot more than just a nod to yesteryear. According to the FDIC, Black households are 21.7 percent more likely than whites to be unbanked — meaning without a checking or savings account. Furthermore, nearly 32 percent of Black households more likely to be underbanked — meaning these households have a checking or savings account, but often rely on alternative financial services such as non-bank money orders, non-bank check-cashing services, payday loans, rent-to-own agreements, or pawn shops — services that drain the household and the community of wealth in the long run. Advocates say that a return to reliance upon Black banks can help reverse these figures.

 

"Black-owned banks in Black communities can even draw the traditionally unbanked poor into the formal economy," said Dr. Brooks Robinson, economist and director of blackeconomics.org. "And [they can] push egregiously exploitative pay-day and check-cashing operations out of business." [http://www.blackeconomics.org/BE&Future/BBANKS.pdf

 

For more information on Black banking institutions in your state, check out the Federal Reserve’s list of minority-owned banks.