Black Owned Banks Seeing Surge In Applicants, One Alone Receives $4 Million In New Deposits

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Prince Vega – African Americans are putting their money where they banks are and now they’re getting larger. According to reports, black-owned banks in Atlanta, Columbus, Georgia, Birmingham and Houston are seeing a surge in applicants that has also resulted in one of the banks, ISF Bank, receiving $4 million in deposits just last week alone.

 

“I think that an economic protest is the most successful way to protest,” Beckham said. “One of the issues of Chicago is the opportunity gap that exists…the way we solve that is by creating businesses and as we move our money and support our banks we make them stronger.”

ABC7 Chicago

Another black owned bank in Atlanta, Citizens Trust, has seen a surge of 8000 applicants after rapper Killer Mike urged black Atlantans to open accounts one day after a deadly shooting in Dallas left 5 officers dead.

Here is a list of some black-owned banks in America

ALAMERICA BANK

http://www.alamericabank.com/

Location: Birmingham, Alabama

Founded: January 28, 2000

FDIC Region: Atlanta

Assets: $35 404 000

BROADWAY FEDERAL BANK FSB

http://www.broadwayfederalbank.com/

Location: Los Angeles, California | Inglewood, CA

Founded: February 26, 1947

FDIC Region: San Francisco

Assets: $385 055 000

CARVER STATE BANK

www.carverstatebank.com

Location: Savannah, Georgia

Founded: January 1, 1927

FDIC Region: Atlanta

Assets: $41 573 000

CITIZENS TRUST BANK

https://ctbconnect.com/

Location: Atlanta, Georgia

Founded: June 18, 1921

FDIC Region: Atlanta

Assets: $392 286 000

CITY NB OF NEW JERSEY

https://www.citynatbank.com/

Location: Newark, New Jersey

Founded: June 11, 1973

FDIC Region: New York

Assets: $340 301 000

CREDIT UNION OF ATLANTA

https://www.cuatlanta.org/

Toll free number: 1.866.318.4980

COMMONWEALTH NATIONAL BANK

http://www.ecommonwealthbank.com/

Location: Mobile, Alabama

Founded: February 19, 1976

FDIC Region: Atlanta

Assets: $63 244 000

COVENANT BANK

http://covenant-bank.com/

Location: Chicago, Illinois

Founded: June 20, 1977

FDIC Region: Chicago

Assets: $59,842,000

URBAN UPBOUND

http://urbanupbound.org/what_we_do/federal-credit-union/

13-03B 40th Avenue

Long Island City, NY.

FIRST INDEPENDENCE BANK

http://www.firstindependence.com/

Location: Detroit, Michigan

Founded: May 14, 1970

FDIC Region: Chicago

Assets: $215 924 000

FIRST STATE BANK

http://www.efirststatebank.com/

Location: Danville, Virginia

Founded: September 08, 1919

FDIC Region: Atlanta

Assets: $38 882 000

FIRST TUSKEGEE BANK

https://www.firsttuskegeebank.com/

Location:Tuskegee, Alabama

Founded: October 11, 1991

FDIC Region: Atlanta

Assets: $63 127 000

ST. LOUIS COMMUNITY CREDIT UNION (Formerly, GATEWAY BANK – St. Louis)

https://www.stlouiscommunity.com/

http://news.stlpublicradio.org/post/ten-percent-households-st-louis-area-dont-use-banks-heres-why-and-whats-being-done

http://www.stlamerican.com/business/local_business/article_11a0e98a-02a3-11e2-b53c-0019bb2963f4.html

http://www.stltoday.com/business/local/sba-loans-to-black-entrepreneurs-drop-dramatically/article_afd4254d-31d5-5abd-91f4-b6b810e14563.html

HIGHLAND COMMUNITY BANK

http://highlandcommunitybankchicago.com/index.php

Location: Chicago, Illinois

Founded: November 09, 1970

FDIC Region: Chicago

Assets: $84 948 000

ILLINOIS SERVICE FEDERAL SAVINGS & LOAN

http://www.isfbank.com/

Location: Chicago, Illinois

Founded: January 01, 1934

FDIC Region: Chicago

Assets: $140 148 000

INDUSTRIAL BANK

http://www.industrial-bank.com/

Location: Washington, DC

Founded: August 18, 1934

FDIC Region: New York

Assets: $342 524 000

LIBERTY BANK & TRUST COMPANY

http://www.libertybank.net/

Liberty, one of the nation’s largest African-American-owned banks, has 20 branches in four states, including locations in Kansas, Mississippi, Louisiana and Texas. The Douglass National deal raises Liberty’s asset base to $545 million. 

Locations: New Orleans, Louisiana | Baton Rouge-Louisiana | Kansas City, Missouri | Dallas, Texas

Founded: November 16, 1972

FDIC Region: Dallas

Assets: $545,019,000

MECHANICS & FARMERS BANK

https://www.mfbonline.com/main/index2.html

Location: Durham, North Carolina

Founded: March 01, 1908

FDIC Region: Atlanta

Assets: $304,809,000

NORTH MILWAUKEE STATE BANK

https://nmsbank.com/

Location: Milwaukee, Wisconsin

Founded: February 12, 1971

FDIC Region: Chicago

Assets: $91 490 000

Click Here For More Black Owned Banks & Credit Unions

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