Black-owned banks across the United States have long stood as pillars of economic resilience and empowerment in Black communities. Many of these banks were founded decades ago out of necessity. During eras when mainstream financial institutions routinely excluded Black individuals from access to fair banking services, these banks have played a critical role in bridging the racial wealth gap, financing Black-owned businesses, and reinvesting in underserved neighborhoods.

While they represent a small percentage of the nation’s banking system, Black-owned banks are uniquely positioned to address Black Americans’ financial challenges. Their mission goes beyond profit. They’re often deeply committed to their communities, financial education, and inclusive lending practices. At a time when racial disparities in wealth, homeownership, and business ownership remain stark, the presence and preservation of Black-owned financial institutions are more critical than ever.

Here’s a list of Black-owned banks throughout the United States you can support.

Black-Owned Banks With Branches In Multiple States

OneUnited Bank

Location: Boston, MA, Los Angeles, CA, Compton, CA, Miami, FL

OneUnited Bank is the largest Black-owned bank in the United States. Founded in 1968 as Unity Bank & Trust Company, OneUnited Bank is headquartered in Boston. The bank offers a range of financial services, including checking and savings accounts, loans, and online banking, aiming to promote financial literacy and economic empowerment in underserved communities.

Industrial Bank

Location: Multiple locations in MD, DC, NJ, and NY

Founded in 1913 in Washington, D.C., Industrial Bank is a Black-owned bank with branches in Maryland and several other states. The bank offers a range of financial services, including checking and savings accounts, loans, and online banking, aiming to empower communities through financial education and services.

Liberty Bank and Trust Company

Location: New Orleans, LA, Jackson, MS, and Kansas City, MO

Established in 1972, Liberty Bank and Trust Company is one of the largest Black-owned banks in the United States. Headquartered in New Orleans, Louisiana, the bank offers a range of financial services, including checking and savings accounts, loans, and online banking. It aims to promote financial literacy and economic empowerment in underserved communities. The bank has also expanded into Mississippi.

Alabama

Alamerica Bank

Location: Birmingham, AL

Established in January 2000 by a group of community leaders, Alamerica Bank is a Black-owned institution offering personalized banking services. With a single branch in Birmingham, the bank provides checking and savings accounts, loans, and online banking services, focusing on meeting the financial needs of its diverse customer base.

Commonwealth National Bank

Location: Mobile, AL

Established in 1976, Commonwealth National Bank is one of the few Black-owned banks in the country. Based in Mobile, Alabama, the bank offers personal and business banking services, including checking and savings accounts, loans, and financial education programs. Its mission is to make wealth common among its customers.

California

City First Bank

Location: Los Angeles, CA

Following its merger with Broadway Federal Bank, City First Bank is a Black-led institution based in Los Angeles. The bank focuses on serving low- and moderate-income communities, offering financial services such as checking and savings accounts, loans, and community development programs.

Georgia

Citizens Trust Bank

Location: Atlanta, GA, Birmingham and Eutaw, AL

Established in 1921, Citizens Trust Bank is a Black-owned bank headquartered in Atlanta, Georgia. The bank offers a range of financial products, including checking and savings accounts, loans, and online banking, aiming to empower communities through financial education and services.

Carver State Bank

Location: Savannah, GA

Founded in 1927, Carver State Bank is a Black-owned bank based in Savannah, Georgia. The bank provides personal and business banking services, including checking and savings accounts, loans, and financial education programs, and its mission is to support economic development in the community.

Illinois

GN Bank

Location: Chicago, IL

Established in 1934 as Illinois Service Federal Savings and Loan Association, GN Bank is the last Black-owned bank in Illinois. The bank offers a range of financial services, including checking and savings accounts, loans, and online banking, focusing on serving the South Side community of Chicago

Iowa

Bank of Jabez (In Development)

Location: Waterloo, IA

Entrepreneur ReShonda Young is working to establish the Bank of Jabez, which would be Iowa’s first Black-owned bank. The bank aims to be a Community Development Financial Institution (CDFI) focused on promoting homeownership and economic growth in underserved communities, thereby addressing the racial wealth gap. As of the latest reports, the bank is in the fundraising and development stages

Maryland

The Harbor Bank of Maryland

Location: Baltimore, MD

Established in 1982, The Harbor Bank of Maryland is a Black-owned bank headquartered in Baltimore. The bank offers various financial services, including checking and savings accounts, loans, and online banking, to promote financial literacy and economic empowerment in underserved communities.

Michigan & Minnesota

First Independence Bank

Location: Detroit, MI, Minneapolis, MN

Established in 1970, First Independence Bank is the only Black-owned bank headquartered in Michigan. It offers a variety of financial services, including personal and business banking, loans, and online banking. The bank focuses on serving the financial needs of underserved communities in Detroit and has expanded its services to Minnesota.

Nebraska

Carver Legacy Center

Location: Omaha, NE

The Carver Legacy Center, based in Omaha, Nebraska, is a Black-led financial hub created in partnership with American National Bank. While not a standalone bank, it offers banking services, business loans, and financial education to increase access to capital for residents of North Omaha. The Center honors the legacy of Nebraska’s first Black-owned bank while working to build economic empowerment in the community.

New York

Carver Federal Savings Bank

Location: New York City, NY

Established in 1948, Carver Federal Savings Bank is one of the largest Black-owned financial institutions in the United States. Headquartered in Harlem, the bank offers a range of financial services, including checking and savings accounts, loans, and online banking. Carver is dedicated to reinvesting in the community, supporting small businesses, and promoting financial literacy.

North Carolina

Mechanics & Farmers Bank

Location: Durham, NC

Established in 1907, Mechanics & Farmers Bank is one of the oldest Black-owned banks in the United States. Headquartered in Durham, the bank offers a range of financial services, including checking and savings accounts, loans, and online banking, focusing on serving the financial needs of underserved communities.

Ohio

Adelphi Bank

Location: Columbus, OH

Opened in 2023, Adelphi Bank is Ohio’s first Black-owned bank in over a century. Located in the historic King-Lincoln Bronzeville neighborhood of Columbus, the bank aims to provide financial services that promote economic empowerment and address the racial wealth gap. Adelphi offers a range of products, including checking and savings accounts, loans, and financial education programs.

Pennsylvania

United Bank of Philadelphia

Location: Philadelphia, PA

Chartered in 1992, United Bank of Philadelphia is a Black-owned commercial bank offering various financial services, including checking and savings accounts, loans, and online banking. The bank focuses on serving the financial needs of underserved communities in Philadelphia.

South Carolina

Optus Bank

Location: Columbia, SC

Established in 1921 as Victory Savings Bank, Optus Bank is South Carolina’s first and only Black-owned bank. As a federally certified Community Development Financial Institution (CDFI), Optus focuses on providing loans to small business owners and borrowers who face systemic barriers, aiming to promote economic empowerment within underserved communities.

Tennessee

Citizens Savings Bank & Trust Company

Location: Nashville and Memphis, TN

Founded in 1904 as One Cent Savings Bank, Citizens Savings Bank & Trust Company is the oldest continuously operating Black-owned bank in the United States. Headquartered in Nashville, with a branch in Memphis, the bank was established by three prominent Nashvillians: R.H. Boyd, Preston Taylor, and J.C. Napier. It offers a range of financial services, including checking and savings accounts, loans, and online banking, focusing on serving the financial needs of underserved communities.

Texas

Unity National Bank

Location: Houston, TX

Unity National Bank, headquartered in Houston, is Texas’s only Black-owned bank. Established in 1963, the bank offers a range of financial services, including checking and savings accounts, loans, and online banking. Unity National Bank focuses on providing accessible financial services, supporting small businesses, and promoting economic development in underserved communities.

Wisconsin

Columbia Savings & Loan Association

Location: Milwaukee, WI

Established in 1924 by Ardie and Wilbur Halyard, Columbia Savings & Loan Association is Wisconsin’s oldest and only Black-owned bank. Located in Milwaukee, the bank has been instrumental in providing access to capital for low- and moderate-income families, focusing on homeownership and community development.

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