Where they are, what they provide, and how they help
- There are 148 minority-owned financial institutions in the United States. Taken together, they have approximately $349 billion in assets in total.3
- Of these, 23 are Black-owned banks.
- Black-owned banks provide customers not only access to the financial resources they need but also the chance to invest in the financial health and well-being of their community.
- Black-owned banks also play a critical role in fighting modern-day systemic racism in the financial sector.
- Critics of Black-owned for-profit banks have posited that true financial justice requires institutions, such as not-for-profit credit unions, that are separate from a financial system rooted in racism and exploitation.
https://www.investopedia.com/black-owned-banks-by-state-5024944