In Feb 2017 Chicago unfortunately lost it’s biggest black owned bank. Seaway Bank was sold to the State Bank of Texas of Dallas. There has never been a more important time to support black owned banks in Illinois, they need our membership, commitment and investment to survive!

Seaway had 10 locations, but it was hit hard by the housing crash, Southside homes plummeted in value and people had trouble keeping up with their mortgages.

Seaway tried hard last year to secure new black funders, investing heavily in the #BankBlack movement but sadly it was not enough.

Black banks and credit unions were formed to serve the interest of a disenfranchised black community that were not allowed to bank with mainstream white banks, many of them have a strong track record of reinvesting into the local community and loaning to small black business.

In short keeping you spending and saving and banking black is for the good of the black community!

Here is a list of black owned banks and credit unions in Illinois. To our knowledge all the black owned banks in Illinois are in Chicago.

LIBERTY BANK
Chicago, Illinois

NOTE ABOUT LIBERTY BANK: A member of our mailing list contacted us to let us know “Liberty Bank of Chicago is majority owned by Polish-Americans living in Chicago. I know this because almost all of my father’s family, the Wojciechowski Family, banks with Liberty Bank. I read the Chairman’s Message by CEO Smigiel. Mr. Smigiel is Polish-American and my family knows his family. I believe I have met him myself many years ago.”

SEAWAY BANK – UNFORTUNATELY THIS BANK IS NO LONGER BLACK OWNED!
Chicago, Illinois

Do you know of any other black-owned banks or credit unions in this state? Are the branches we listed still open? If you have any info please email us family[AT]urbanintellectuals.com.

If you are looking for banks in nearby states of other states see our list black owned banks in all states.