49 Black Owned Banks

According to a Nielsen consumer study, black Americans currently generate $1 trillion in collective buying power. That number is expected to grow to $1.3 trillion by 2017. Despite the massive purchasing power, money filters out of black communities quicker than any other demographic. A dollar circulates within its own Asian community for a month, while a black dollar leaves the community in just 6 hours. To put this into perspective, only 2 cents of every dollar is funneled back into black communities and businesses.

Proof that blacks are indispensable players in the economy, many are looking to keep their money in the hands of one another and heading to black owned banks. Viewing it as a way to empower black communities nationwide, those who have made the switch see how this benefits black businesses and entrepreneurs.

If you’re one of the many looking to #bankblack, below is a list of 49 black owned banks across the nation.

CITIZENS TRUST BANK Atlanta, Georgia
CREDIT UNION OF ATLANTA Atlanta, Georgia
1st CHOICE CREDIT UNION Atlanta, Georgia
THE HARBOR BANK Baltimore, Maryland
LIBERTY BANK Baton Rouge, Louisiana
ALAMERICA BANK Birmingham, Alabama
ONEUNITED BANK Boston, Massachusetts
FIRST LEGACY COMMUNITY CREDIT UNION Charlotte, North Carolina
SEAWAY BANK Chicago, Illinois
SOUTH SIDE COMMUNITY Chicago, Illinois
ILLINOIS SERVICE FEDERAL Chicago, Illinois
LIBERTY BANK Chicago, Illinois
SOUTH CAROLINA COMMUNITY BANK Columbia, South Carolina
MOUNT OLIVE BAPTIST CHURCH CU Dallas, Texas
OAK CLIFF CHRISTIAN CREDIT UNION Dallas, Texas
FAITH COOPERATIVE CREDIT UNION Dallas, Texas
FIRST STATE BANK Danville, Virginia
FIRST INDEPENDENCE BANK Detroit, Michigan
LIBERTY BANK Detroit, Michigan
MECHANICS & FARMERS BANK Durham, North Carolina
UNITY NATIONAL BANK Houston, Texas
LIBERTY BANK Jackson, Mississippi
LIBERTY BANK Kansas City, Missouri
COVENANT SAVINGS CREDIT UNION Killeen, Texas
GREATER KINGSTON CREDIT UNION Kingston, North Carolina
OMEGA PSI PHI CREDIT UNION Lawrenceville, Georgia
ONEUNITED BANK Los Angeles, CA
BROADWAY FEDERAL BANK Los Angeles, California
TRI-STATE BANK Memphis, Tennessee
ONEUNITED BANK Miami, Florida
NORTH MILWAUKEE STATE BANK Milwaukee, Wisconsin
COLUMBIA SAVINGS AND LOAN Milwaukee, Wisconsin
COMMONWEALTH NATIONAL BANK Mobile, Alabama
CITIZENS BANK Nashville, Tennessee
LIBERTY BANK New Orleans, Louisiana
URBAN UPBOUND New York, New York
CITY NATIONAL BANK Newark, New Jersey
UNITED BANK OF PHILADELPHIA Philadelphia, PA
HILL DISTRICT CREDIT UNION Pittsburgh, Pennsylvania
VIRGINIA STATE UNIVERSITY CU Richmond, Virginia
CARVER STATE BANK Savannah, Georgia
ST LOUIS COMMUNITY CREDIT UNION St. Louis, Missouri
FAMU FEDERAL CREDIT UNION Tallahassee, Florida
TOLEDO URBAN CREDIT UNION Toledo, Ohio
LIBERTY BANK Tuskegee, Alabama
PHI BETA SIGMA FEDERAL CREDIT UNION Washington, DC
HOWARD UNIVERSITY EMPLOYEES CU Washington, DC
INDUSTRIAL BANK Washington, DC
BROOKLAND FEDERAL CREDIT UNION West Columbia, South Carolina

 

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