American Bank PA的动态

"The basic foundations of the Freedman’s Bank were created by white Northerners who, in some ways, really believed that they could economically help the nation’s almost four million freed African Americans. And so, they conceived of the bank as a vehicle to help them make the really dangerous transition from slavery to freedom, but in terms of their finances and economics." "They really didn’t understand the financial knowledge that African Americans were bringing with them into freedom, African Americans who were enslaved were cultivating ideas of how to make and save money in the period of slavery. And so they were bringing with them very concrete ideas about saving and what they wanted to do with their money, which was to buy property and buy land." "There was a financial crash, a financial crisis in the fall of 1873, and African Americans started to withdraw their money en masse. Frederick Douglass comes in, he becomes the bank’s president in March 1874. And he looks at the bank’s finances and realizes that the bank is overleveraged. The finance committee had approved of millions of dollars of bank loans that were not going to be repaid. And interestingly enough, the majority of those loans went to the white partners and businessmen who were affiliated with the bank’s trustees." "And so we see that there is kind of a generational memory of the Freedman’s Bank and its failure. And I think in many ways, too, it’s dictated the oftentimes fraught relationship that we’ve seen between the financial services industry and African Americans in the 20th and 21st centuries." - adapted from Marketplace interview with Justene Hill Edwards, associate professor of history at the University of Virginia and author of the forthcoming book, “Savings and Trust: The Rise and Betrayal of the Freedman’s Bank”

?? More Breaking News on Community Collaboration, published by The Green Sheet Always a pleasure to interview with Dale Laszig on projects we’re working on with iCG Pay and the communities of business professionals and their families we serve. As you’ve read, I’m passionate about encouraging others, especially when it comes to #financialliteracy. Why talk about banks so much, Nikki???!!! What do they do but take your deposits and hold your loans? Behind the scenes, they may be some of the most philanthropists in your community. Banks sit at the helm of knowledge transfer, their team members advising account holders on budgeting, investing, lending, debt management, and more. They carry a burden to impact the current and future generations economic development. The missions of many banks I’ve came across remain similar—> ?? Seek to do what's in best interest for their clients and the backbone of our economy. Check out the mission of the Federal Deposit Insurance Corporation (FDIC) ?? They seek “to maintain stability and public confidence in the nation's financial system.” Sunflower Bank, N.A. ?? Strives to fulfill a purpose in the community to “work intentionally to develop a culture in pursuit of our mission of “Bringing out the best in the lives we touch … Creating Possibility.” Kensington Bank published their mission statement?? “To be a trusted partner in the financial success of our customers one relationship at a time and give back to the communities we serve What is the Community Reinvestment Act (CRA) and how does it affect banks like these seeking to impact their community? The #CRA is founded on four key elements: lending, investing, servicing, and education. These activities go beyond mere acts of goodwill; As you research the framework of the bank's engagement with its community, it’s their dedication to these principles that the banks not only comply with regulatory standards but also cultivate trust and backing within their communities. Essentially, it communicates a message of solidarity and support in a universally comprehensible manner - through financial assistance and guidance. What else can we learn from these #servantleaders? Check out the link to my interview in comments. If you want to discuss how the A team of financial advisors and active investors in teaching financial literacy can empower your CRA plans, reach out. ————————- Thanks for stopping by my virtual office. ?? Follow me ?? ?? Hit the bell ?? And don’t be shy to stay engaged with the content if it encourages you or stirs you to do more research ?? #compliance #creditunions #banking #philanthropy

?? Is Your Money Working Hard Enough? ?? If you have cash savings sitting idly, it’s time to make them work harder for you! With rising inflation, your savings need to earn more than just dust. Here’s how you can make the most of your money with some top high-interest easy access accounts available right now: Ulster Bank (NatWest Owned) - 5.20% ?? Your savings deserve a boost! Earn 5.20% interest while keeping your money accessible. Ulster Bank, part of the NatWest group, offers reliability and impressive returns. Oxbury Bank - 5.04% ?? A perfect blend of competitive interest rates and flexibility. With Oxbury Bank, enjoy a 5.04% rate and watch your savings grow while having easy access when you need it. Monument Bank - 5.03% ?? Monument Bank offers an appealing 5.03% rate, allowing you to keep your savings fluid without sacrificing growth. Ideal for those who want peace of mind and good returns! Don’t let your money rest when it could be working for you. Explore these accounts and start maximising your savings potential today! ???? #Finance #HighInterestSavings #SmartSavings #FinancialFreedom

Banks are profit-making organisations, right? That's their core purpose. They're not charities. In fact, they tend to work well with criminals, fraudsters and tax evaders among others. So, they can close all the #HighStreet branches they like, right? So, do those who now have to bank solely at home now (like me and my kids) get to share in this good fortune? Nope! They provided better returns to those who invested with them to fund Slavery. In addition to their record profits, do interest rates remain high and mortgages remain inaccessible for those starting out, who most need them now? Yes! It's no wonder smart people are seeking better places to put their cash, than banks. I found gambling on the stock market doesn't suit my temperament. So I prefer to invest my modest cash reserves in old-fashioned bricks & mortar, including homes and businesses. What are the safest investments right now, for relatively small amounts? (Not crypto, thanks all the same) Full disclosure: I have bank accounts, but I use them to pay bills and move money, rather than store money with them. #Watercoolermoment #futureofwork

After Relman Colfax conducted a comprehensive #RacialEquity audit of State Street in 2023, we were thrilled to see their commitment to increasing investments in communities of color through their $100 million deposit program. We have been eagerly following their journey to create a more #inclusive and #equitable financial ecosystem for all. Today, we are proud to recognize State Street's recent efforts for advancing financial equity through their deposits to #CarverStateBank Citizens Trust Bank and Ponce Bank—three mission-driven minority depository institutions (MDIs). These actions are pivotal in addressing the disparities that persist in our financial ecosystem. https://lnkd.in/eMvzUjmu

?? Is Your Money Working Hard Enough? ?? If you have cash savings sitting idly, it’s time to make them work harder for you! With rising inflation, your savings need to earn more than just dust. Here’s how you can make the most of your money with some top high-interest easy access accounts available right now: Ulster Bank (NatWest Owned) - 5.20% ?? Your savings deserve a boost! Earn 5.20% interest while keeping your money accessible. Ulster Bank, part of the NatWest group, offers reliability and impressive returns. Oxbury Bank - 5.04% ?? A perfect blend of competitive interest rates and flexibility. With Oxbury Bank, enjoy a 5.04% rate and watch your savings grow while having easy access when you need it. Monument Bank - 5.03% ?? Monument Bank offers an appealing 5.03% rate, allowing you to keep your savings fluid without sacrificing growth. Ideal for those who want peace of mind and good returns! Don’t let your money rest when it could be working for you. Explore these accounts and start maximising your savings potential today! ???? #Finance #HighInterestSavings #SmartSavings #FinancialFreedom

?? **Time for Change in Florida's Banking Sector!** ?? After countless attempts to engage with Florida Community Bank, we've been met with silence, with a voice message promising a call back... in a year! Here we are in October, still waiting for support that never comes. It's crystal clear: Florida's community banks are falling short of their promise to uplift and empower the communities they serve. This isn't just an inconvenience; it's a disservice to those who rely on these institutions for support. That's why we've taken matters into our own hands. We are proud to announce the creation of the Veterans World Bank and Credit Union—a bold step toward creating a banking solution that prioritizes community and veteran needs. All community banks must be thoroughly investigated, starting with BBIF, to ensure they are fulfilling their commitment to the communities they claim to serve. Together, let's make some noise and demand accountability! ?? Join us in our mission to reshape the financial landscape for all Floridians. Because someone needs to stand up against the status quo! #BankingForThePeople #VeteransWorldBank #CommunitySupport #AccountabilityNow

Banking matched to the size of your business makes for a better relationship than mismatched. Is your business getting the attention you need from your banker, or do you need a better match? #Entrepreneurs

We feel the same, Christopher Williston VI, CAE. Kudos to The Baker Group and IBAT. Very comforting to see such strong passion, leadership and commitment to the future of our vital community banks. #communitybanking #regionalbanking #IBAT #visibility #strategicvisibility #communitybank #risk #finance #fintech #opportunities #riskmanagement #ERM #ECRM #engagement #banking #CFO #enterpriseriskmanagement #CECL #credit #creditrisk #creditriskmanagement #CRO #compliancerisk #compliance?

Capital Savings Bank was the first African American-owned bank in the US. It opened in DC on October 17, 1888, to provide credit and capital to Black business interests within the Black community. Capital was one of 134 Black-owned and operated banks established (1888-1917). Since white-owned financial institutions were unwilling to offer credit or capital to African American businesses, African American Churches, mutual aid, and fraternal organizations stepped in to serve as “pooling places for capital” and the backbone of African American communities. The churches used real estate, buildings, and Sunday offerings to grow wealth for their ministries, such as schools. They soon invested capital in African American banks, insurance companies, newspapers, and other business enterprises to serve the needs of Black communities and create a thriving economy. Between 1867 and 1917, African American businesses increased from 4,000 to 50,000. Although the Savings Bank of the Grand Fountain United Order of True Reformers is referred to as the first Black-owned and operated bank, Capital Savings Bank takes the “first to open” spot. True Reformers was certified in March 1888 but didn’t open for business until 1889. Capital Savings stimulated the creation and expansion of Black entrepreneurship and enterprise in DC, by providing capital for grocery stores, bakeries, cleaning establishments, catering businesses, and other establishments in Black communities. Within four years, Capital deposits reached $300,000. Such confidence in the community resulted in the bank positively impacting the local African American economy. That support made the bank strong enough to ride out the Panic of 1893 and remained strong until its closing in 1902. #africanhistory365 #africanexcellence