This is becoming a trend and its a wonderful thing! For the third time in 3 days we are reporting on a Black Owned bank seeing high increases in new account sign ups. This time it’s M&F Bank in North Carolina.
According to Newsroom Buzz, Jasmine Parker of M&F Bank said in the past five days, online applications for new accounts have jumped from 500 a day to 2,500. The increase in new accounts adds up to an estimated $1.25 million in one week being moved into M&F Bank accounts from mainstream financial institutions.
“It’s good to see these dollars being recycled back into the community,” Parker explained.
For more information on this news, go to Newsroom Buzz
Let’s keep this movement going! Find a Black Owned Bank in your area and open an account. If you can’t find a physical bank close to you, there are many Black Owned Banks that offer online services. Here is a list of Black Owned Banks in the US: