This topic is about Blacks in banking. Black people are always made to seem very dumb when it comes to banking and money! Actually we are very good at managing money we do more with less than any other racial group! So we will look at some Blacks in Banking!
Cultural Icons- Banking and Finance Industry
The first Black owned and operated bank was Capital Savings, open in 1888, in Washington D.C.
One of the main objectives of the bank was to loan money to Black business, because White banks were unwilling or made it to hard!
*Tip
Maybe this is a idea that should be consider and reintroduce to the Black community! Because you are not truly a community if you do not own your own business! The community belongs to the people who have ownership! How many Black business are in your community?
The key to the bank becoming a success was the organizing and coming together of Black churches and fraternities. It was set up to help all class of Blacks, but understand business was key to the community.
Capital Saving closed in 1902, it was a major success in the way ideology, because it did not say open long!
There were 134 Black banks established between 1888 & 1934. The number of Black business grew from around 4,000 to over 50,000!
I hope Black people will take time understand what this topic means, as we have become addict to over shopping and everyone else rich and us poor?
Thank you, Black Elders for opening your banks and doing for self!
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