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AND to keep it 💯 it wasnt until I started banking with a black bank that I started to learn finacial literacy. Got a loan, paid it off, mom financed a home with a good interest rate. Not a lot of jargon or red tape just plain ole goods and services minus the pretention and extra verbage. My community needs this. Its hard to trust lan industry that has been known to f with you. Black banks provide a good segue into the American debt system that seems to be needed to uphold the consumerist fantasy
AND to keep it 💯 it wasnt until I started banking with a black bank that I started to learn finacial literacy. Got a loan, paid it off, mom financed a home with a good interest rate. Not a lot of jargon or red tape just plain ole goods and services minus the pretention and extra verbage. My community needs this. Its hard to trust lan industry that has been known to f with you. Black banks provide a good segue into the American debt system that seems to be needed to uphold the consumerist fantasy
So was it specifically because it was a black bank ? Or was it because it was a small / independent bank ?
I always bank with a large and small bank/credit union.
I keep my regular checking in a large bank due to the convenience. I keep my savings in a credit union. I also have another savings account in a black owned credit union.
However, all the focus IMO on banking black is neither a plus nor minus. I would wonder what these people hope to gain by moving their money to black owned financial institutions. If they, like me, are doing so because these institutions provide people in the neighborhoods they live and/or serve with financial literacy classes and scholarships for youth or they support local little league sports teams or school activities, then I am all for it. But if those banking institutions aren't doing anything to support any black community initiatives or local neighborhood initiatives, then IMO it is silly to support them.
I am of the idea that black people do need to invest in organizations that assist other black people. I think we have come a long way in regards to economic opportunity and educational advancement and we need to support those businesses that provide training, scholarships and dollars to community initiatives. Not those that just hold galas or something and don't do anything with their revenue. I personally believe we should focus on supporting specific organizations that help black Americans. I personally like supporting the NAACPs Legal Defense Fund. People are unaware that the LDF still fights necessary court cases on behalf of discriminated agaisnt black people and others (they take cases for whites too especially in regards to sexism, ageism, and environmental issues). I also support the "100 Black Men/Women" organization as they provide mentoring to at-risk youth.
I'm looking at building a list of reputable organizations that we as black consumers can press black banks and businesses to support via a charitable contribution as I believe we are at the point where we need more of a concerted financial effort to further fund educational and economic organizations that have a proven track record of improving the lives of black Americans.
Why not focus more on the whole community rather than the race or color of certain people in the community even if they are a majority .
What about the white , Asian , Hispanics, etc that might live in a " black neigborhood " ?
Shouldn't a community bank be for everyone in the community ?
So when Black people do the very thing you cry babies continuously cry about, building their own economic base to improve their own communities, you still cry. Look we understand we are fascinating people but please go find another minority to obsess over.
The "community" is America. There should be no "black community".
Black people should stay away from banks, as banking itself is a scam. If black people want more financial independence, we need to move into blockchain technology. That's really the future. Banking will be dead in the next 20 years.
I always bank with a large and small bank/credit union.
I keep my regular checking in a large bank due to the convenience. I keep my savings in a credit union. I also have another savings account in a black owned credit union.
However, all the focus IMO on banking black is neither a plus nor minus. I would wonder what these people hope to gain by moving their money to black owned financial institutions. If they, like me, are doing so because these institutions provide people in the neighborhoods they live and/or serve with financial literacy classes and scholarships for youth or they support local little league sports teams or school activities, then I am all for it. But if those banking institutions aren't doing anything to support any black community initiatives or local neighborhood initiatives, then IMO it is silly to support them.
I am of the idea that black people do need to invest in organizations that assist other black people. I think we have come a long way in regards to economic opportunity and educational advancement and we need to support those businesses that provide training, scholarships and dollars to community initiatives. Not those that just hold galas or something and don't do anything with their revenue. I personally believe we should focus on supporting specific organizations that help black Americans. I personally like supporting the NAACPs Legal Defense Fund. People are unaware that the LDF still fights necessary court cases on behalf of discriminated agaisnt black people and others (they take cases for whites too especially in regards to sexism, ageism, and environmental issues). I also support the "100 Black Men/Women" organization as they provide mentoring to at-risk youth.
I'm looking at building a list of reputable organizations that we as black consumers can press black banks and businesses to support via a charitable contribution as I believe we are at the point where we need more of a concerted financial effort to further fund educational and economic organizations that have a proven track record of improving the lives of black Americans.
Marry the mother of your kids and get a job. The rest will take care of itself.
Why not focus more on the whole community rather than the race or color of certain people in the community even if they are a majority .
What about the white , Asian , Hispanics, etc that might live in a " black neigborhood " ?
Shouldn't a community bank be for everyone in the community ?
There are Asian, Latino and other minority community banks. There are also community banks that focus on geographic areas or neighborhoods. There are many specifically focused banks around America. Most people took issue specifically with many of the attacks on black empowerment this thread generated. Which I think was the primary purpose of this here..
Black empowerment is a threat to the white supremacist power structure.
There are Asian, Latino and other minority community banks. There are also community banks that focus on geographic areas or neighborhoods. There are many specifically focused banks around America. Most people took issue specifically with many of the attacks on black empowerment this thread generated. Which I think was the primary purpose of this here..
Black empowerment is a threat to the white supremacist power structure.
Yes but wouldn't you say those banks might have something to do with language ?
Black Americans generally have English as their first language don't they ?
Honestly-who cares? Bank wherever you like. As long as black-owned banks are held to the same laws and lending standards and regulations as any other bank, and don't discriminate with their services, all is fine. Why would this be an issue? Just so long as they are forced to obey the same CRA rules and make the same risky, "sub-prime" loans that other banks are mandated to do.
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