Giving Compass' Take:
- Bolstering the efforts of Black-owned banks can help drive progress in promoting economic and racial justice.
- What are the major hurdles for Black-owned banks? How will investment help address the racial wealth gap?
- Read more about investing in Black banks and CDFIs.
What is Giving Compass?
We connect donors to learning resources and ways to support community-led solutions. Learn more about us.
The National Black Bank Fund and Foundation (NBBF) are leading in the racial justice movement through economic justice.
With relationships at the center, Ashley Bell, Civil Society Fellowship (A Partnership of ADL and the Aspen Institute) Fellow, along with Mayor of St.Louis, Tishaura Jones, Rodel Fellow, and others across the Aspen Global Leadership Network, founded the organizations to support the dwindling number of Black-owned banks across the United States.
Earlier this year, NBBF made history by bringing together more than half of the Black-owned banks in the country to lead in a major financing deal with the NBA’s Atlanta Hawks. Big deals like this get banks the capital they need to better serve their communities, which can ultimately lead to closing the racial wealth gap. This deal also serves as a model for what other businesses can do to take action on this issue.
Watch, learn more about the impact, and find out how you could get involved in supporting Black-owned banks.
Read the full article about supporting Black-owned banks from The Aspen Institute.