Now in progress...Flip the Script on the past 400+ years. Bank Black. It's as simple as that!
Make July 2026 become the biggest mobilization to economic liberation in the African American community. How?
Bank Black. It's as simple as that.
And before anyone counters that there are no African American banks "Conveniently" located, the internet has changed all of that. Visit https://BlackOutCoalition.com
Consider a nationwide online bank, One United Bank, based in Atlanta, Georgia, yet within virtual reach and open to every person in the U.S.
Make it a personal decision. No permission asked. None required What do I mean by that? There are many that will deter you, or say Black Banks are risky.
Well, here's irrefutable evidence that Eurocentric Banks are riskier, because they benefit for the "white superiority" mythology that they are better money managers. Well let me tell you about the African America banks in operation today. The oldest, Mechanics and Farmers made it through Jim Crow, the Depression, the Recession, 9/11, and the current White House Administration.
While a proportionately greater percentage of Eurocentric owned banks have been on the brink of failure, without Bail outs, or failed altogether.
How Silicon Valley Bank Collapsed in 36 Hours | WSJ What Went Wrong
The worst year for banks since 2008 | FT Film
US Bank Failures Rise "...Washington has spent more than $500 Billion to bail out troubled banks." None of those bailout were for African American banks.
Freedmen's Bank is oft-quoted of an example of "Black" Bank mismanagement. When in fact, it was not a Black Owned Bank. View the video.
How Mechanics and Farmers Bank Survived the Great Depression - Google search.
Mechanics and Farmers Bank (M&F Bank) in Durham, North Carolina, was one of only a dozen African-American-owned banks in the U.S. that survived the Great Depression without closing bankingwhileblack.org. Its resilience came from a combination of community trust, conservative lending, strategic partnerships, and deep roots in the African-American business district.
1. Conservative, Community-Focused Lending
From its founding in 1907, M&F’s policy was to provide “no large loans to a few profiteers, but rather conservative sums to needy farmers and laborers” Wikipedia+1. This approach meant the bank avoided risky speculative lending, focusing instead on stable, community-based borrowers. During the Depression, when many banks collapsed due to bad loans, M&F’s cautious strategy helped it weather financial strain.
2. Strong Community Ties and Partnerships
The bank was closely linked to the North Carolina Mutual and Provident Association (later North Carolina Mutual Life Insurance Company), which provided both a financial base and a network of trusted clients Wikipedia+1. This partnership ensured a steady flow of business and mutual support during economic downturns.
3. Investment in Real Estate and Home Ownership
M&F made significant investments in mortgages, helping African Americans in Durham achieve home ownership durhamcivilrightsmap.org. By supporting middle-class housing, the bank strengthened the local economy and created a stable base of customers who could repay loans.
4. Local Leadership and Trust
The bank’s founders and early leaders—such as John Merrick, William G. Pearson, and Stanford L. Warren—were respected community figures who built trust with their clients durhamcivilrightsmap.org. This trust was critical during the Depression, when many people were wary of financial institutions.
5. Strategic Growth and Branch Expansion
By the early 1920s, M&F had grown to managing $113,000 in capital and opened a branch in Raleigh, making it one of the few African-American-owned banks with multiple locations Wikiwand . Geographic reach helped diversify its customer base and reduce the impact of local economic shocks.
6. Resilience in a Hostile Environment
Operating in a segregated economy with limited access to mainstream banking, M&F’s survival was a testament to its ability to serve a loyal, underserved market. Its focus on stability, community investment, and conservative risk management allowed it to outlast many white-owned banks that collapsed during the 1930s bankingwhileblack.org+1.
In short, Mechanics and Farmers Bank survived the Depression by staying true to its mission of serving the African-American community with responsible, community-oriented banking, avoiding speculative risks, and building deep, lasting relationships with its clients and partners.
--------------------------------------------
By 1976, there were more than 50 Black-owned banks across the United States. Their numbers shrunk during the savings and loan crisis of the 1980’s and again during the Great Recession, which squeezed Black households’ wealth through unprecedented foreclosures and home equity losses.
Since 2008, the number of Black-owned banks have fallen by 49 percent. Today there are just 18 of these vital community anchors. - The history and importance of Black-owned banks – National Black Bank Foundation
Admittedly African America Banks failed during 1980's for the same reasons that White Banks did. However another reason for their closures is the White Banks, who had not previously welcomed Black customers, now opened their doors with the offer of personal loans, mortgages, charging higher interest, along with liberal approvals on credit cards. Most African Americans "abandoned/deserted" Black owned banks and didn't look bank. Now we complain about redlining, remember that was a non-issue with African American banks.
Black Banks that remain in service today, have proven their financial prudence, against the odds, and remain open to serve us.
Bring your a$$ets accordingly.
- * Bring your "A" game of cash flow stability. Consider your Black Bank account for emergency saving. Constant deposits and withdrawals do not benefit the bottom line of any bank to maintain sufficient balances.
- *Use cash flow management tools such as 5-10-10-75 Bucket Bo$$ to achieve decreased spending to 75% or less of your net income dollar. With 5-10-10-75 practice, you are showing a bank good financial stewardship, good credit, and thus worth of favorable credit terms.
Comments
Post a Comment