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- Adelphi Bank is the only Black -owned bank in the state of Ohio and, according to the Federal Deposit Insurance Corporation, one of only 21 Black-owned banks in the country.
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Feb 9, 2023 · How Many Black-Owned Banks Are There in America? According to FDIC data, only 23 out of 5,400 insured financial institutions in the United States were owned and operated by Black people...
Jan 30, 2024 · Today, there are 40 Black-owned financial institutions in the US. These banks manage a combined total of $5 billion in assets — a drop in the bucket compared to other institutions. For example, Chase controls almost $2.7 trillion in assets, with Bank of America trailing behind at $2 trillion.
- Writer
- Ward Williams
- 1st Choice Credit Union. Founded in 1946, the Hospital Authority Credit Union was created to provide financial services to employees of Grady Hospital. In 1991, the organization became known as 1st Choice Credit Union.
- Alamerica Bank. Alamerica Bank was originally organized by a group of prominent Birmingham, Ala., community leaders on Jan. 28, 2000. Alamerica achieved operational profitability after six months of operation.
- Brookland Federal Credit Union. Founded in 1999, Brookland Federal Credit Union is a not-for-profit financial cooperative that provides financial services to members of Brookland Baptist Church and their immediate family members.
- Brooklyn Cooperative Federal Credit Union. Brooklyn Cooperative Federal Credit Union, also known as Brooklyn Coop, was originally founded in 2001. Joining Brooklyn Coop requires a piece of mail as proof of address, a government-issued photo ID, Social Security card or individual Tax Identification Number (TIN), and a $25 membership fee plus a $5 minimum savings account balance.
May 1, 2023 · Today, there are 145 minority-owned banks and just 20 of them Black-owned, according to Federal Deposit Insurance Corp. data. Adelphi Bank is the lone Black-owned bank in Ohio.
Oct 7, 2024 · One type of MDI is a Black-owned bank. These institutions serve to lessen economic inequality and provide banking and loan services to underserved communities. We've provided a detailed list...
- Henry Blodget
May 1, 2023 · Adelphi Bank is the only Black -owned bank in the state of Ohio and, according to the Federal Deposit Insurance Corporation, one of only 21 Black-owned banks in the country. Gov. Mike DeWine and...
These maps show the location of Black-owed banks, credit unions, and all other (predominantly white-owned) banks. They demonstrate that the Black banks serve not only Black and minority communities that have fewer bank locations but they also connect to other important indicators like poverty and income, education levels, and homeownership.
