There are currently about 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.
We have the power to generate over 1 trillion dollars annually but invest less than half a percent of that in our own financial institutions. It’s time to change these numbers!
Check out the list below:
One United Bank
One United is the first Black internet bank and the second largest Black owned bank in the country, with offices in Los Angeles, Boston and Miami.
They were awarded the highest Bank Enterprise Award by the U.S. Department of Treasury for our community development lending ten times!
Location(s): Los Angeles,California, Miami, Florida, Boston, Massachusetts
Website: One United Bank
Minimum Deposit: $50