In response to injustice, millions of dollars have been deposited into Black banks and credit unions as part of a growing economic protest, the #BankBlack movement. Coupled with the #BuyBlack movement, #BankBlack focuses on empowering African-American communities throughout the nation. Rapper Killer Mike, and other celebrities like Solange and Usher, endorsed the #BankBlack movement in response to high profile police killings.
In 2016, OneUnited Bank, the nation’s largest Black owned bank, added $20,000,000 in deposits and generated $130,000,000 in loans! They increased their staff by approximately 10%, which created more jobs for the community and reduced wait time by 95%.
The overall message is that 50 million African-Americans with 1.3 trillion dollars have tremendous economic power. ‘Black Money Matters’ and 2017 promises to be another record-breaking year. One day before MLK was assassinated, Dr. Martin Luther King Jr. asked people in Memphis to put their money in a Black bank. Almost 50 years later, the call to action remains the same. Bank Black. Buy Black. Join the movement.