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#BankBlack: December 2022 List of Black Owned Banks By State

black-owned-banks-and-credit-unions

Black owned banks have a long-standing history in predominately Black American communities. Black-owned banks are needed to serve the economic needs of what are often underserved areas.

A bank's primary role is to take deposits and make loans. But a 2021 Brookings Institute found that Black borrowers and depositors face significant challenges when attempting to access services.

Black-owned banks provided 67% of mortgage loans to Black Americans according to 2013 remarks by Martin Gruenberg, former chair of the FDIC. While non-black owned community banks had fewer than 1% of mortgages go to Black Americans.

Black-owned banks and credit unions contribute to building wealth.

OUR TOP PICK

Best Black Owned Bank

Our overall top pick for Black-owned banks is OneUnited Bank. Due to its online access to people throughout the U.S., OneUnited Bank is one of the few online black-owned banks.

OneUnited

Features and Benefits

  • Minimum opening deposit of $25 (can be funded with a credit card)
  • No monthly fee
  • Get paid up to 2 days early with early direct deposit
  • OneUnited offers a no-credit check cash advance up to $1,000
  • Free Online & Mobile Banking
  • Obtain Cash, Surcharge Free at Over 37,000 ATMs Nationwide
  • Deposit checks through the mobile app
  • Add cash at over 90,000 retailers nationwide including 7-Eleven®, Walmart, CVS Pharmacy®, Dollar General, Rite Aid, Walgreens and more
  • Free Bill Pay

Read More

Black Owned Banks near me

#BankBlack: List of Black Owned Banks by State.

Financial Institution

Location

OneUnited Bank
Carver Federal Savings Bank
Liberty Bank
Industrial Bank
City First Bank, N.A.
Citizens Trust Bank
Mechanics & Farmers Bank
Harbor Bank of Maryland
First Independence Bank
GN Bank
Citizens Savings Bank & Trust
Unity National Bank
United Bank of Philadelphia
Commonwealth National Bank
Optus Bank
Carver State Bank
Alamerica Bank
Columbia Savings and Loan Association
Howard University Employees Federal Credit Union
Phi Beta Sigma Federal Credit Union
FAMU Federal Credit Union
1st Choice Credit Union
Credit Union of Atlanta
United Neighborhood Federal Credit Union
Omega Psi Phi Fraternity Federal Credit Union
South Side Community Federal Credit Union
Southern Teachers & Parents Federal Credit Union
Hope Credit Union
St. Louis Community Credit Union
Urban Upbound Federal Credit Union
Greater Kinston Credit Union
Toledo Urban Federal Credit Union
First Security Bank
Hill District Federal Credit Union
Brookland Federal Credit Union
Mount Olive Baptist Church Federal Credit Union
Faith Cooperative Credit Union
Oak Cliff Christian Federal Credit Union
Virginia State University Federal Credit Union
Kinly – Budgeting Built for Black America
Greenwood – Modern Banking for the Culture
MoCaFi

OneUnited Bank

best-black-owned-bank
OneUnited Bank is one of the largest Black owned bank with $634 million in assets and $373 million in deposits. OneUnited Bank is also one of the first black owned online banks available in all 50 states. Local branches operate in California, Florida, and Massachusetts.

In addition to a full menu of financial products, OneUnited Bank is designed to serve the needs of the community by focusing on financial literacy, general literacy, affordable housing, and community development. OneUnited has financed almost $1 billion in loans – most in low-to-moderate income communities such as South Central, Compton, Liberty City, and Roxbury.

In July 2022, OneUnited introduced a no-credit check loan called CashPlease where customers can borrow up to $1,000 and repay over 90 days. CashPlease loan benefits:

  • Apply 24/7
  • No credit check
  • 90-day pay-off term
  • Loan amounts up to $1,000
  • Upon approval, loan funds deposited within 4 hours

OneUnited ranks as one of the best overall Black owned banks due to its products that focus on rebuilding credit:

  • U2 E-Checking Account is for customers who have been denied an account in the past due to ChexSystems or EWS.
  • UNITY Visa® Secured Credit Card reports to the 3 major credit bureaus and can be opened with as little as a $300 security deposit, which sets your credit limit.
  • CashPlease is a no credit check loan up to $1,000 that can be repaid over 90 days. You must have a OneUnited checking account to qualify.

Online banking customers can deposit cash within minutes by purchasing a MoneyPak from $20 to $500 in cash at 90,000+ retailers nationwide, including 7-Eleven, CVS, Dollar General, Rite Aid, Walgreens, and more. Early direct deposit is also one of the features offered by OneUnited Bank.

States: California, Florida, and Massachusetts

Financial products and services:

  • Black Wall Street Checking account
  • U2 Second Chance Checking account
  • Savings accounts
  • Individual retirement accounts (IRAs)
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Secured credit card
  • Mortgage and Apartment loans
  • Designated by the U.S. Treasury Department as a Community Development Financial Institutions (CDFI)
  • Mobile App
  • Commerical loans

Carver Federal Savings Bank


As the nation's second-largest Black owned bank with assets totaling $707 million and $569 million in deposits, Carver Federal Savings Bank is headquartered in Harlem, New York.

Founded in 1948 and named after the agricultural scientist, George Washington Carver, the bank continues its mission to provide banking products to underserved communities.

Carver Federal Savings Bank offers a variety of checking accounts for customers and invests over 80% of its deposits into the neighborhoods it serves.

State: New York

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Individual retirement accounts (IRAs)
  • Certificates of deposit accounts (CDs)
  • Credit cards
  • Landlord/tenant security accounts
  • Wire transfers
  • Installment loans
  • Lines of credit
  • Mobile App
  • Designated by the U.S. Treasury Department as a Community Development Financial Institutions (CDFI)

Learn more here.


Liberty Bank


As one of the nation's largest black owned bank with assets totaling $965 million, Liberty Bank is available in 8 states, however, if you don't live near a branch, you can still open an account online from any state in the US. In 2021, Liberty Bank and Trust Company acquired Tri-State Bank of Memphis in an all-cash transaction. Both Liberty and Tri-State are Minority Depository Institutions as defined by the Federal Deposit Insurance Corporation.

Liberty Bank partners with cities and communities across the nation offering access to economic opportunities such as affordable housing, business development, and fair financial products.

States: Alabama, Illinois, Kansas, Kentucky, Louisiana, Michigan, Missouri, Mississippi, and Tennesee

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Individual retirement accounts (IRAs)
  • Certificates of deposit accounts (CDs)
  • Credit cards
  • Personal loans
  • Equity loans
  • Home equity lines of credit
  • Mobile App
  • Designated by the U.S. Treasury Department as a Community Development Financial Institutions (CDFI).

Learn more here.


Industrial Bank


Industrial Bank has assets totaling $550 million with six community banking locations within Washington D.C. and Prince Georges County, Maryland, two in Newark, NJ, and one in Harlem, NY offering a full range of banking services.

States: Maryland, New Jersey, New York
District: Washington, DC

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Individual retirement accounts (IRAs)
  • Certificates of deposit accounts (CDs)
  • Credit cards
  • Personal loans
  • Notaries
  • Mobile App

Learn more here.


City First Bank, N.A.


City First Bank, N.A. merged on April 1st, 2021 with Broadway Federal Bank, f.s.b. to become the largest Black owned bank with over $1B in total assets and over $700MM in total deposits. City First Bank was founded in 1998 and Broadway Federal Bank has served the minority community for over 70 years.

City First Bank is focused on providing services to underserved communities in the greater regions of Washington, DC, and Los Angeles, CA. Since the beginning of 2021, City First Bank has financed over 700 affordable housing units. Currently, there are branches in California (Los Angeles and Inglewood) and Washington, D.C.

State: California
District: Washington, DC

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Individual retirement accounts (IRAs)
  • Certificates of deposit accounts (CDs)
  • Credit cards
  • Money market accounts
  • Small business lending
  • Commercial loans

Learn more here.


Citizens Trust Bank

Citizens Trust Bank has been serving the Black community since 1921, focusing on financial empowerment and closing the wealth gap. Citizens Trust Bank is a medium-size bank and handles $655 million in assets standing strong on the values of increasing financial literacy, making homeownership possible, and uplifting community.

States: Alabama and Georgia

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Individual retirement accounts (IRAs)
  • Money market accounts
  • Credit cards
  • Auto, Mortgage and Personal loans
  • Home equity lines of credit
  • Commercial loans

Learn more here.


Mechanics & Farmers Bank

Founded in 1907 by nine Black businessmen who had a dream for their community, Mechanics & Farmers Bank currently has assets totaling $317 million. As a small institution, M&F Bank offers customers one-to-one attention to their financial needs.

During the COVID-19 pandemic, M&F Bank provided loan payment deferrals as well as guidance and assistance related to relief options for small businesses impacting over 1,300 local jobs and 163 local small businesses through participation in the Paycheck Protection Program.

State: North Carolina

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Health savings accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products
  • Commercial loans

Learn more here.


The Harbor Bank of Maryland

Founded in 1982, Harbor Bank of Maryland has assets totaling $265 million. The bank has seven branch locations and primarily serves the Baltimore, Maryland Metropolitan area. The Harbor Bank offers checking, savings, time deposits, credit cards, debit cards, commercial real estate, personal, home improvement, automobile, and other installment loans.

State: Maryland

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Individual Retirement Plans
  • Credit cards
  • Loans & Lines of Credit
  • Mortgages
  • Business Checking & Savings
  • Commercial loans

Learn more here.


First Independence Bank

First Independence Bank is the 8th largest Black American controlled commercial bank in the United States. For over 50 years, First Independence Bank has been serving the community. First Independence Bank helps individuals and businesses by delivering financial services with an affinity for under-served and minority communities.

State: Michigan

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Individual Retirement Plans
  • Credit cards
  • Loans & Lines of Credit
  • Mortgage, Car loans

Learn more here.


GN Bank (Groupe Nduom)

GN Bank, formerly known as ISF Bank has assets totaling $133 million with branches in Chicago, IL, with 25,000 free ATMs around the US.

State: Illinois

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Individual Retirement Plans
  • Credit cards
  • Home loans
  • Business banking

Learn more here.


Citizens Savings Bank & Trust

Citizens Savings Bank & Trust has assets totaling $107 million. The bank reimburses all ATM fees, both domestically and internationally.

States: Tennessee, Kentucky, Texas, and Alabama

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Individual Retirement Plans
  • Credit cards
  • Home equity loans
  • Personal, auto, and home loans

Learn more here.


Unity National Bank

Unity National Bank has assets totaling $102 million with branches in Texas. The bank was originally founded in 1963 and is the only Black-owned bank in Texas. Unity financially supports organizations like the YMCA, YWCA, NAACP, United Negro College Fund, SHAPE Community Center, Boy Scouts of America, and more.

States: Texas

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Overdraft Protection
  • Online bill payment
  • Home equity loans
  • Personal, auto, and church loans

Learn more here.


United Bank of Philadelphia

united-bank-of-philadelphia

States: Pennsylvania

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit building loans
  • Online, telephone, and mail banking

Learn more here.


Commonwealth National Bank

commonwealth-national-bank

Commonwealth National Bank has assets totaling $53 million. Commonwealth National Bank offers student scholarships and leadership development programs as well as financially supports charitable organizations like the Boys & Girls Clubs of South Alabama and the Mobile Police Department.

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Commercial loans
  • Online and mobile banking
  • Personal, auto, and home loans

Learn more here.


Optus Bank

optus-bank
Optus Bank has assets totaling $65 million with branches in South Carolina. They are committed to helping all people build wealth and improve their lives, regardless of their background or situation.

State: South Carolina

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products
  • Commercial loans

Learn more here.


Carver State Bank

carver-state-bank
Carver State Bank has assets totaling $42 million with branches in Savannah, GA.

State: Georgia

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products
  • Commercial loans

Learn more here.


Alamerica Bank

Alamerica Bank has assets totaling $36 million with branches in Birmingham, AL.

State: Alabama

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Auto and Mortgage loans
  • Construction loans
  • Lot loans
  • Commercial loans

Learn more here.


Columbia Savings and Loan Association

Columbia Savings and Loan Association has assets totaling $25 million with branches in Milwaukee, WI.

State: Wisconsin

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products
  • Commercial loans

Learn more here.

Top Black Owned Credit Unions

Howard University Employees Federal Credit Union

State: Washington, DC

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products

Learn more here.



Phi Beta Sigma Federal Credit Union

State: Washington, DC

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products

Learn more here.



FAMU Federal Credit Union

State: Tallahassee, FL

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products

Learn more here.



1st Choice Credit Union

State: Atlanta, GA

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products

Learn more here.



Credit Union of Atlanta

State: Atlanta, GA

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products

Learn more here.



United Neighborhood Federal Credit Union

State: Augusta, GA

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products

Learn more here.



Omega Psi Phi Fraternity Federal Credit Union

State: Toccoa, GA

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products

Learn more here.



South Side Community Federal Credit Union

State: Chicago, IL

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products

Learn more here.



Southern Teachers & Parents Federal Credit Union

State: Baton Rouge, LA

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products

Learn more here.



Hope Credit Union

State: Jackson, MS (branches also in AL, AR, LA, TN)

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products

Learn more here.



St. Louis Community Credit Union

State: St. Louis, MO (branches also in IL)

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products

Learn more here.



Urban Upbound Federal Credit Union

State: Long Island City, NY

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products

Learn more here.



Greater Kinston Credit Union

State: Kinston, NC

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products

Learn more here.



Toledo Urban Federal Credit Union

State: Toledo, OH

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products

Learn more here.



First Security Bank

State: Oklahoma City, OK

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products

Learn more here.



Hill District Federal Credit Union

State: Pittsburgh, PA

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products

Learn more here.



Brookland Federal Credit Union

State: West Columbia, SC

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products

Learn more here.



Mount Olive Baptist Church Federal Credit Union

State: Arlington, TX

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products

Learn more here.



Faith Cooperative Credit Union

State: Dallas, TX

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products

Learn more here.



Oak Cliff Christian Federal Credit Union

State: Dallas, TX

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products

Learn more here.



Virginia State University Federal Credit Union

State: South Chesterfield, VA

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products

Learn more here.


Online-only Black Owned Banks


Kinly – Budgeting Built for Black America

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products

Learn more here.



Greenwood – Modern Banking for the Culture

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products

Learn more here.



MoCaFi

Financial products and services:

  • Checking accounts
  • Savings accounts
  • Certificates of deposit accounts (CDs)
  • Money market accounts
  • Credit cards
  • Auto, Personal, and Mortgage loans
  • Home equity lines of credit
  • Business banking products

Learn more here.


History of Black Owned Banks

One of the first Black banks came out of the Freedman's Bureau. In an attempt to transition newly freed enslaved Africans, Congress and President Lincoln established the Freedman’s Bank on March 3, 1865.

The Freedman's Bank aided Black Americans in financial literacy. When the Emancipation Proclamation was signed in 1863, Black Americans owned less than 1 percent of the country’s wealth.

Unfortunately, today that percentage has barely changed according to educator and historian, Dr. Claude Anderson of the Harvest Institute and author of “Black Labor, White Wealth: A Search for Power and Economic Justice.”

Why Black owned banks are important

Black owned banks play a major role in underserved communities. Lack of access to traditional banking means Black Americans depend more on costly alternative financial services that include money orders, check cashing services, payday loans, pawn shop loans, auto title loans, and rent-to-own services.

These types of alternative financial services typically far outnumber traditional banking institutions in Black American communities.

Black borrowers and depositors have limited access to banking services including deposits, residential mortgage credit, and business loans. For generations, Black-owned banks have provided credit, capital and financial services to low- and moderate-income people and businesses that have historically been underserved by the financial services industry.

In fact, the majority of business loans to churches, small businesses, and community organizations in Black American communities are provided by Black owned banks.


Black owned banks and credit unions offer an option for the unbanked

As a group, Black Americans have the highest unbanked and underbanked numbers even though recent numbers from the FDIC show a slight improvement. Unbanked people waste a lot of money with check cashing stores, prepaid cards and payday lenders.

ChexSystems and Early Warning Services are often the reason Black Americans are barred from opening a bank account. Banking mistakes happen that can cause the need for second chance banking options. Black owned banks like OneUnited Bank offer an online second chance checking account anyone can open.

Final thoughts

The numbers of Black owned banks have dwindled over the years but the positive impact on Black American communities remains. These institutions offer services that Black communities need to thrive, such as financial literacy, home ownership, building wealth, and fixing credit issues.

By circulating more dollars in a predominately Black community along with practicing collective economics, Black-owned banks help improve the wealth gap.

Assets Source: Federal Deposit Insurance Corp. “Minority Depository Institutions Program, Third Quarter 2021.”

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38 thoughts on “#BankBlack: December 2022 List of Black Owned Banks By State”

  1. Looking for a Black Owned bank for a commercial land purchase for a new business venture. Any thoughts or suggestions?

  2. Happened to stumble onto this article. Thank u for this info regarding the existence of black banks! Informative and enlightening!!

  3. Greetings, my name is Mairlyn. I’m delighted to see that there’s a number of black owned banks in existence today.

    I’m live in Portsmouth, Virginia…are there any black owned banks here?

      1. Great, expedited information. That was helpful to me too.
        This was helpful to me as well. She may be able to find a bank or credit Union in Elizabeth City; just thought of that based on her location.

        1. Unfortunately, there are no Black-owned banks or credit union options in the state of Arizona. At this time OneUnited Bank is the only Black-owned bank available online to people in all states but they do not have a HYSA.

  4. Hello! Thank you for this great list. We are looking for a black-owned bank that does not have monthly fees for checking. We are in Texas. Have you come across any like that? Thank you!

    1. I haven’t come across any no-fee checking accounts at Black-owned banks in Texas. However, Nos. 12 and 13 on the above list will waive monthly checking fees if certain criteria are met like maintaining a particular average daily balance or setting up direct deposit.

  5. I live in Arizona. Any recommendations for Black owned banks that have physical locations here? If not, I will just open an online account. Thanks

  6. Lisa, this is great! Thank you for doing most of the leg work. I’ve wanted to move my money for some time, but hadn’t slowed down to do the research. You have made it simple for us. I’m switching personal and business, and have wanted another CD and Money Market. And, I don’t think I’ve seen another bank with rates on savings higher than Broadway Federal!

  7. I am looking to move all our accounts and create new accounts for my children and the information provided was nice to have all in one place.

  8. Sharron Johnson-Wilkins

    Hi Lisa,
    I’ve been wanting to put my money into a Black owned bank. I live in California… Is there any accommodation for me out here?
    Thank You,

  9. This is great information all in one place as I research to move mine and my children’s checking and savings accounts. I’m in AZ so either way all will be online.

  10. Thank you so much. We wanted to open up a checking account with interest and you have helped meet that goal. We also will be looking into CDs as well.

  11. Hello Ms. Phillips,

    I was in search of opening a savings account for both of kids for the future and may I say this is very much helpful and greatly appreciate. Today, most importantly is important to support our own black banks and prepare for the future.

    Very much thank you

  12. Greetings Ms. Phillips,

    I’m delighted with the information you provided on the Nation’s Black owned banks, very enlightening.

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