We have a century of data that proves Black banks matter—that they make the American dream possible by extending capital to homeowners and entrepreneurs.

Black banks help Black communities build real, intergenerational wealth. That’s why the work of uplifting Black banks is so vital.

Creating financial opportunity in Black communities is an urgent racial justice issue – and one that is critical to the health of our broader financial ecosystem. Black-owned banks are a shrinking part of the American financial system. There are currently only 21 Black-owned banks in the U.S., down from 36 a decade ago. Collectively they control just $4.8 billion, less than 1% of the nation’s banking assets.

Financial empowerment is one of the most basic and immediate ways to facilitate concrete, real-world progress toward achieving our overarching social justice goals within a thriving economy. For the last century, Black-owned banks have worked diligently to correct staggering economic disparities by extending credit for homes and small businesses to Black borrowers that major lenders reject. Because mainstream banks have shuttered branches in underserved communities by the thousands, Black banks are often Black borrowers’ only source for non-predatory lending and wealth-building programs – but their numbers have fallen by more than 50%.

Excluding people of color from basic financial services cements the country’s racial wealth gap in pervasive and insidious ways. Breaking this cycle of exclusion to create financial health and capital access requires nurturing the banks that have locations where they can serve people of color – and serve as a grounding force in the community. 

Our Approach 

• Modernize Black Banks: In partnership with KPMG, we support Black Banks through consultative services that help them identify new growth strategies and services that strengthen the banks’ existing portfolios and provide them with plans that will help them transform and modernize for the future. 
• Make Black Banking Accessible: We serve as an intermediary to help position Black banks for access to capital and to strengthen their position as a community solution.
• Build the Black Banking Movement: We raise awareness about the economic value of minority depository institutions through public awareness campaigns that leverage high-profile members of our Governing Board and Corporate Advisory Board who serve as Ambassadors.