Ghana News
As Celebrities Urge More Support for Black Banks, Black Banks See a Rise in New Customers
Photo Credit: Instagram
In the wake of the police brutality epidemic in the black community, organizers have urged black people to use their economic power to spark change.
Interestingly enough, the call for increasing support of black banks is already working.
According to the Houston Chronicle, a black bank in Houston has been happily signing up hundreds of new customers amidst the push for the support of black banks:
Courtney Martin didn’t mind waiting more than an hour on Wednesday to open an account at Unity National Bank in southeast Houston.
After last week’s police shootings – including one in her hometown of Baton Rouge, La. – she wanted to support an African-American bank and show the power of money.
“When we invest, when we create economic change, we create political and social change,” said the 28-year-old who now lives in Pearland.
Unity National is the only bank in Texas where the majority of its owners are African-American, among banks identifying as minority depository institutions. It has been flooded by new customers, including Martin who, in the face of continued police violence against black men, want to support their community.
More than 350 people have opened accounts at Unity National Bank since Friday. That’s a major boost for the bank that previously had about 4,100 accounts and $84 million in assets.
“That’s a dream for a bank,” said Chris Williston, president and CEO of the Independent Bankers Association of Texas that represents community banks. “Most of the banks are crying for deposits.”
John Scroggins, president and CEO of Unity National Bank, said he was surprised and elated by the influx in customers. He was in the lobby Wednesday shaking hands and giving out business cards. He wants new customers to know that he’s easily accessible.
Martin appreciated that: “I’ve actually never been served this way in any business.”
It’s possible the surge in new accounts for black banks could be a result of black celebrities urging African Americans to put their dollars into their own communities.
Solange is one public figure who has been open about the movement on her Instagram account:
Also…. While I realize this is a very personal decision and thing to share, I’m proud to say I made that step today. Time to literally put my money where my mouth is. I can not vouch for any of these institutions, but if you are interested in the information, @saintheron has posted the list (via hbcu money)…www.saintheron.com
By: Amanda Anderson-Niles | urbanbellemag.com
