19 Black Owned Banks in the United States | What If We Kept 10% of Our Annual Spending Power in Those Banks?

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We are constantly hearing about the importance of economic unity in the black community to combat the lack of lending and economics. People talk about the potential strength of our money, the $1.2 trillion dollars in annual spending power of the community, but somehow forget to mention the benefit and opportunity of having black owned banks.

Just imagine if we kept a tenth of our $1.2 trillion dollars in these banks. This would be a sum of $120 billion dollars in those banks, providing the economic strength and lending power our community needs to take control of our situation here in America.

We would have all funds we would need to begin to build a solid community for the future. The problem is we continue to listen to people who have no interest in the success of our future. We continue to pay attention to side issues instead of focusing in on controlling our economics in the community (and eventually the politics).

FIND YOURS: We just put together a list of Black Banks in EVERY STATE, Click Here

Black owned banks

STOP IT!

It is time each and every one of us open an account with a black bank. You don’t have to move all your money at once, we already know you aren’t going to do that. But if you just move 10% over, this can start a tidal wave of difference in our community.

Here are the 19 Black Owned Banks in the United States of America. Consider putting a portion of your money into one.

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

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

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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

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

ILLINOIS SERVICE FEDERAL SAVINGS & LOAN

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

Founded: August 01, 1985

FDIC Region: Dallas

Assets: $68 125 000

Source: FDIC

 

Source: FDIC

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PUBLIC NOTE: The opinions expressed in this article are the author's own and do not reflect the view of the Urban Intellectuals, affiliates or partners.



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