Black Banks Matter is all about increasing the generational wealth of African American and minority communities.
Our mission is to inform consumers in minority communities about the role of banking and credit. Consumers will find out how it impacts their ability to create and grow wealth. Education in finance is extremely important because it enables us to understand the functions and dynamics of banking in our community. Yes, they want consumers to deposit their money. However, banks are built on the number of successful loans that minority-owned banks can deliver in the community. These loans generate income that allows the bank to be more competitive, expand services, and hire more employees that live in the community.
Over the past couple of years, we’ve noticed a tremendous increase in the number of deposits being made into minority-owned Banks. Now with the creation of BlackBanksMatter.com, we want to take it to the next level. The next level is to increase the number of loans that consumers acquire from minority-owned banks. We feel that this increase will have an immediate impact on the bottom line for the banking institutions, giving them the ability to lend more to the community. For that reason, we came up with the name BlackBanksMatter.com. Please use our directory to locate a minority-owned bank in your area. Be sure to come back and rate your experience.
Our long term goal is to educate minority consumers about the importance of credit management and how it can help them build generational wealth.