#BankBlack: Black-Owned Banks Experience Surge in New Accounts

Black folks are fed up!

Following the barbaric killings of Alton Sterling and Philandro Castile at the hands of racist police earlier this month, Black folks all over the country have sprang into action.

Using social media as our platform, Black and Brown faces have been spreading information regarding protests, rallies and boycotts breaking out from New York to California.

With the intent to dismantle this White supremacist system and strengthen our communities, one of the leading agendas has been to #supportblackbusinesses, namely Black-owned banks. So it’s no wonder that Black financial institutions all over the country have been experiencing a wave of new depositors.

President Michael Grant of the National Bankers Association, which promotes minority-owned financial houses, told USA Today that Black-owned banks have been getting “volume that you would not believe” in recent days.

“It’s not just happening in one location — it’s happening to banks around the country,” he said.

Celebrities like Solange Knowles and Killer Mike have aided in this surge of new accounts by pledging their allegiance to Black financial institutions.

Killer Mike alone provoked over 8,000 people to transfer at least $100 to Atlanta’s Citizens Trust, a Black-owned bank founded in 1921, through his #bankblack challenge. In just five days, his call to action help the bank rake in nearly $1 million.

Last week, Solo announced that she too would be transferring her funds to a Black bank, and this past Tuesday (July 18), Houston rappers joined forces to open accounts at Unity National,the only Black financial institution in the state of Texas, which has reportedly gotten more than 350 new accounts in recent weeks.

Two words: LET’S GOOOOOOO!

Check out a list of Black-owned banks and credit unions below (via Watch the Yard):

1. Omega Psi Phi Credit Union – Lawrenceville, Georgia
2. Phi Beta Sigma Federal Credit Union – Washington, DC
3. One United Bank – Los Angeles,California
4. FAMU Federal Credit Union – Tallahassee, Florida
5. Credit Union of Atlanta – Atlanta, Georgia
6. North Milwaukee State Bank – Milwaukee, Wisconsin
7. Seaway Bank – Chicago, Illinois
8. The Harbor Bank- Baltimore, Maryland
9. Liberty Bank – New Orleans, Louisiana
10. United Bank of Philidelphia – Philidelphia, Penn
11. Alamerica Bank – Birmingham, Alabama
12. Broadway Federal Bank – Los Angeles, California
13. Carver State Bank – Savannah, Georgia
14. Capital City Bank – Atlanta, Georgia
15. Citizens Trust Bank – Atlanta, Georgia
16. City National Bank – Newark, New Jersey
17. Commonwealth National Bank – Mobile, Alabama
18. Industrial Bank – Washington D.C.
19. First Tuskegee Bank – Tuskegee, Alabama
20. Mechanics & Farmers Bank – Durham, North Carolina
21. First Independence Bank – Detroit, Michigan
22. First State Bank – Danville, Virginia
23. Illinois Service Federal – Chicago, Illinois
24. Unity National Bank – Houston, Texas
25. Carver Federal Savings Bank – New York, New York
26. OneUnited Bank – Miami, Florida
27. OneUnited Bank – Boston, Massachusetts
28. Tri-State Bank – Memphis, Tennesse
29. Citizens Bank – Nashville, Tennessee
30. South Carolina Community Bank – Columbia, South Carolina
31. Columbia Savings and Loan – Milwaukee, Wisconsin
32. Liberty Bank – Baton Rouge, Louisiana
33. Liberty Bank – Kansas City, Missouri
34. Citizen Trust Bank – Birmingham, Alabama
35. Liberty Bank – Chicago, Illinois
36. Liberty Bank – Jackson, Mississippi
37. Toledo Urban Credit Union – Toledo, Ohio
38. Hill District Credit Union – Pittsburgh, Pennsylvania