The 21 Black-Owned Banks In The Country That You Probably Didn’t Know About

Many Americans are unaware of the numerous black owned banks around the country. So here’s a little break down.

These 21 banks have total assets of approximately $4.7 billion dollars, according to Urban Intellectuals. This is a mere 0.43 percent of the $1.1 trillion dollars of annual spending power of the African American community!

Blacks have over a trillion dollars in annual spending, but only keep $4.7 billion dollars of this in Black-owned banks.  Urban Intellectuals even makes the point that if blacks “pooled a quarter of that $1 trillion dollars in spending power in these [black owned] banks, [they] could fund more businesses. All of this without the touch, approval or need of anyone outside of our community.” Want to learn where to get started.  Below you can find a partial list of those 21 banks. Get the full list here.

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ILLINOIS SERVICE FEDERAL SAVINGS & LOAN

Location: Chicago, Illinois

Founded: January 01, 1934

FDIC Region: Chicago

Assets: $140,148,000

INDUSTRIAL BANK

Location: Washington, DC

Founded: August 18, 1934

FDIC Region: New York

Assets: $342,524,000

CITY NB OF NEW JERSEY

Location: Newark, New Jersey

Founded: June 11, 1973

FDIC Region: New York

Assets: $340,301,000

 

BROADWAY FEDERAL BANK FSB

Location: Los Angeles, California

Founded: February 26, 1947

FDIC Region: San Francisco

Assets: $385,055,000

CAPITAL CITY BANK & TRUST COMPANY

Location: Atlanta, Georgia

Founded: October 3, 1994

FDIC Region: Atlanta

Assets: $294,572,000

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