Ever since the founding of the Bank of North America in 1781, banking has played a critical role in facilitating the American Dream. These institutions provide indispensable monetary services, ranging from accepting deposits to offering loans. Credit is king in the United States, and without high-quality financial institutions, countless Americans would struggle to acquire vehicles, housing, and other essential items.

However, like pretty much all of the nation’s older institutions, banks have also played a significant part in America’s racist past. Racial discrimination in the banking industry and financial system has targeted African Americans, and challenges to ending discrimination persist today. Black-owned banks arose as an alternative to larger institutions, to provide greater access to banking services as well as an opportunity to support local communities.

According to the Federal Deposit Insurance Corp. (FDIC), a minority depository institution (MDI) is “…a federal insured depository institution for which (1) 51 percent or more of the voting stock is owned by minority individuals; or (2) a majority of the board of directors is minority and the community that the institution serves is predominantly minority. Ownership must be by U.S. citizens or permanent legal U.S. residents to be counted in determining minority ownership.” Most of the Black-owned banks featured in this article fall into the former category.

For the purposes of this article, Black-owned and Black-managed credit unions that serve the Black community have been included to provide the most complete picture of America’s Black financial institutions. The article uses the term “Black-owned” in this broad sense, recognizing that stockholders own for-profit banks and members own credit unions.

Key Takeaways

• Today there are 148 minority-owned financial institutions in the United States. Taken together, they have approximately $349 billion in assets in total.
• Of these, 23 are Black-owned banks.
• Black-owned banks provide customers not only access to the financial resources they need but also the chance to invest in the financial health and well-being of their community.
• Black-owned banks also play a critical role in fighting modern-day systemic racism in the financial sector.
• Critics of Black-owned for-profit banks have posited that true financial justice requires institutions, such as not-for-profit credit unions, that are separate from a financial system rooted in racism and exploitation.

Background and History of Black-Owned Banks

Black-owned banks didn’t exist until more than a century after the Bank of North America first opened its doors. Prior to the chartering of the first Black-owned bank in 1888, the U.S. Congress and then-President Abraham Lincoln established Freedman’s Savings Bank in 1865. As part of the Freedman’s Bureau, this institution was designed to help newly freed African Americans navigate the U.S. financial system.

Despite Congress voting to close the Freedman’s Bureau in 1872, the bank continued to operate. In 1874, Frederick Douglass took over as the bank’s Washington, D.C., branch director, and he found the place to be rife with corruption and risky investments. Despite Douglass investing $10,000 of his own money in the bank in an attempt to save it, Freedman’s Savings went bankrupt later that same year. Although Freedman’s Savings Bank doesn’t fit the modern criteria of a Black-owned bank, it represents a critical first step.

The first officially chartered Black-owned bank, True Reformers Bank, was founded on March 2, 1888, by the Rev. William Washington Browne. A former slave and Union Army officer, Browne was founder of the Grand Fountain United Order of True Reformers fraternal organization. True Reformers Bank came about when Browne and his organization faced financial hardships while trying to establish a new branch in Virginia. Unable to manage the order’s money without arousing suspicion from paranoid and prejudiced locals, Browne founded True Reformers Bank so that the organization’s finances would be free of scrutiny from White people.

The bank opened its doors in 1889 and went from a small operation in Browne’s house to an institution strong enough to survive the financial panic of 1893. Although True Reformers Bank continued to operate after Browne’s death in 1897, problems were beginning to develop by 1900. Under its new president, the Rev. William Lee Taylor, branches were poorly regulated, unsecured loans were made, and an embezzlement scandal cost most accountholders their savings. By 1910, the State Corporation Commission had ordered the bank to be closed.

As the story of True Reformers Bank was playing out, other Black-owned banks were also getting their start in the U.S. Capital (spelled Capitol by some accounts) Savings Bank of Washington, D.C., opened its doors in Oct. 1888, roughly six months before True Reformers Bank. Capital Savings also managed to survive the financial panic of 1893, though it later closed in 1902.

From 1888 to 1934, more than 134 Black-owned financial institutions were founded, predominantly located in Southern states. Their numbers dwindled during the Great Depression, leaving nine by 1930. It wasn’t until the civil rights movement that a resurgence took place, raising their numbers to 50 by 1976.

By 1988, the savings and loan crisis had wiped out 35 Black-owned banks. The start of the most recent decline came in 2001, during the early 2000s recession, which rapidly accelerated once the Great Recession began.

“You can’t separate Black history from American history,” says Tyrone Ross, chief executive officer (CEO) of Onramp Invest, a crypto asset integration platform solution for financial advisors. “We’ve always been well adept and versed in financial education and the ability to be entrepreneurs. It’s just been stripped from us. So it’s OK to write these articles—or have panels or whatever—but let’s start with the history first so people go, ‘Oh, crap. It really was stripped from them, and they’re just trying to get it back.’”

Modern-Day Discrimination

As recently as 2023, the wealth of a White family was more than six times higher on average than that of a Black family. This is a result of inequality, discrimination, racism, and differences in power and opportunity compounding throughout America’s history. It also is why the diminishing number of Black-owned banks is especially of concern, given the role that these institutions play in fighting modern-day systemic racism in the financial sector.

Consider redlining. This unethical and now-illegal practice is used to block off access to important services for residents of certain neighborhoods based on their race or ethnicity. The Civil Rights Act of 1964, which prohibits discrimination on the basis of race, color, religion, sex, and national origin, was a start. And yet, although the Fair Housing Act of 1968 and the Community Reinvestment Act (CRA) of 1977 were both intended to eliminate redlining, this kind of discrimination is still seen today.

For instance, 68.1% of loans made from 2012 to 2018 for housing purchases in Chicago went to predominantly White areas; 8.1% went to predominantly Black areas. Banks also lent more money to predominantly White neighborhoods than to every predominantly Black neighborhood combined. This disparity is even starker when looking at individual lenders, with JPMorgan Chase lending 41 times more money in White neighborhoods than Black ones.

Chicago is far from the only place where redlining occurs. From 2015 to 2020, the denial rate for Black home loan applications in Boston was 15.3%, more than three times that of their White counterparts. And in 2018, people of color in 61 cities were more likely to be denied home loans than White residents. If homeowners aren’t moving into—and investing in—a neighborhood, then it means capital isn’t flowing into the community, which leads to poverty and crime having an inescapable presence in the area.

“One in five Black Americans now is unbanked. When you look at our poverty rates, our lack of ownership, lack of homeownership, that all goes back to economic empowerment,” Ross explains. “Economic empowerment starts with banking.”

The Importance of Black-Owned Banks

To understand why Black-owned banks matter, it’s critical to recognize the role that banks play in financial life. A common service that banks provide is access to a checking account, allowing for the safe storage of an individual’s funds, typically in exchange for a minimal fee. In addition to accepting monetary deposits, banks also furnish loans for both individuals and businesses looking to finance crucial purchases. Banks also offer mortgages for real estate purchases. Many banks issue credit cards, which are valuable tools for building the credit history necessary to receive most loans.

Outside of providing financial services, a number of banks have also launched programs on financial literacy for low- and moderate-income communities. It’s difficult, if not impossible, to imagine thriving in the modern economy without taking advantage of the aid that a bank can provide. And if access to these types of services is constantly denied to certain groups, then it’s easy to see how these groups may face more financial difficulties than others.

Black-owned banks offer an alternative for residents who have been consistently discriminated against by other financial institutions. They have typically provided more money to borrowers living in low- and moderate-income census tracts than other banks. Black-owned banks also are more willing to tolerate higher levels of risk than alternative institutions. Our research found that in 2016, 67% of mortgages made by Black-owned banks were either Federal Housing Administration (FHA) mortgages—which typically serve riskier borrowers—or mortgages held “in portfolio,” meaning they are liable to the risk of the borrower defaulting.

Additionally, Black-owned banks tend to focus their lending on small businesses, nonprofits, and Black homebuyers. As of 2018, all Black-owned banks were community banks; these institutions are dedicated to supporting the economies of the communities that they serve. Even during difficult times, Black-owned banks have stuck by their customers. During the 2007–2008 financial crisis, despite a 69% drop in all mortgage lending to Black borrowers, the number of mortgages that Black-owned banks provided rose 57%.

“So there’s lack of lending, there’s lack of funding, there’s lack of access to the ability to acquire assets and build wealth,” Ross says. “The Black community has for years been afraid of banking with traditional institutions. A lot of them live in banking deserts where there are no banks, which is also why you have credit unions, check-cashing places, and payday loans.”

Without Black-owned banks, countless vulnerable consumers could be forced to rely on high-interest loans from pawnshops and payday lenders for their financing. What’s more, Black-owned banks provide customers not only access to the financial resources they need but also the chance to invest in the financial health and well-being of their community and fellow Americans.

“I think we have a responsibility now to realize that—if you really want to be grassroots, and you really want to help Black Americans—get that money in Black banks and then have those Black banks fund the people,” Ross says.

A different book, Black Metropolis: A Study of Negro Life in a Northern City, published in 1945 by two American sociologists is considered a foundational work on the subject of African American sociology and cultural studies. It influenced generations of scholars and activists and is a key resource for investigating the impact of redlining, racial bias in medical-care decision-making tools, and the history of lending discrimination in the United States.

Other Alternatives for Community Funding

Not everyone sees Black-owned, for-profit banks as the solution. Critics argue that true financial justice requires institutions that are entirely separate from a financial system rooted in racism and exploitation.

“I’ve been very critical of for-profit Black banks and the capitalist logic that governs them,” says Professor Guy Mount, assistant professor at Wake Forest University. “In my opinion, member-owned credit unions and nonprofit co-ops are the way forward for Black communities hoping to not only survive within capitalism, but build a viable Black economic alternative to it.”

In fact, that choice is currently available to consumers. Of the Black-owned financial institutions in the U.S.—all listed below—many are credit unions.

Other critics have taken this concept further. In The Color of Money: Black Banks and the Racial Wealth Gap, Mehrsa Baradaran, professor of law at the University of California Irvine School of Law, posits that those in power have pushed the idea of Black-owned banks as a diversionary tactic whenever the African American community demanded more direct solutions to the racial wealth gap. For instance, although Freedman’s Bank remains a critical facet of Black history, the Freedman’s Bureau originally proposed providing newly freed slaves with an allotment of land—they received a bank instead.

More recently, when civil rights leaders began calling for a redistribution of wealth, then-President Richard Nixon co-opted the rhetoric of that same movement to create a civil rights platform centered around “Black capitalism.” He wasn’t the only president to support the idea of banking over financial support. Then-President Bill Clinton introduced legislation with the aim of promoting “community empowerment” via banking. Across party lines, then-Presidents George W. Bush and Barack Obama supported and upheld Clinton’s infrastructure. Former President Donald Trump also made similar promises during his time in office.

Baradaran further argues that—as it is nearly impossible for a segregated community to keep its wealth entirely self-contained—Black-owned banks may actually facilitate the flow of money out of African American communities and into the White economy.

Professor Mount sees it the same way. “By emerging themselves within a White-governed capitalist marketplace, Black banks are facilitating the very extraction of wealth from the communities they purport to serve,” he says.

Black-Owned Banks: State-by-State Breakdown

While the number of Black-owned financial institutions may have declined from their peak, they cumulatively have a significant presence. As of Jan. 31, 2022, the 44 Black-owned banks and credit unions in the U.S. had approximately $9.12 billion in assets. And although 23 states had no Black-owned financial institutions within their borders, several organizations have a presence across the U.S. because of their partnerships with major automated teller machine (ATM) networks. Additionally, many of the Black-owned financial institutions in the country are not-for-profit credit unions.

The majority of Black-owned institutions offer both traditional brick-and-mortar branches and online/mobile services. Even OneUnited Bank, originally an Internet-only bank, now has multiple physical locations across the U.S. Ensuring online accessibility is a smart move considering that, in 2019, approximately 34% of African American consumers were more likely to use mobile banking as their primary method of accessing their accounts.

Below: a list of Black-owned banks and credit unions in the U.S., in alphabetical order.

1st Choice Credit Union

Founded in 1946, the Hospital Authority Credit Union was created to provide financial services to employees of Grady Hospital. In 1991, the organization became known as 1st Choice Credit Union.

• Branches: Auburn Avenue Administrative Office (Atlanta) and Grady Memorial Hospital (Atlanta)
• ATMs: Crestview Health & Rehabilitation Center (Atlanta) and Ponce De Leon Center (Atlanta)
• State: Georgia
• Services: Personal and business checking and savings, in addition to loans (personal, mortgage, etc.)
• Assets: $40.16 million
• Availability: Brick-and-mortar and online

Alamerica Bank

Alamerica Bank was originally organized by a group of prominent Birmingham, Ala., community leaders on Jan. 28, 2000. Alamerica achieved operational profitability after six months of operation.

• Branches: The Alamerica Bank Building (Birmingham)
• ATMs: N/A
• State: Alabama
• Services: Deposit services (business and personal accounts), loan services (commercial and personal loans), internet banking, image statements, and MasterMoney debit cards
• Assets: $17.28 million
• Availability: Brick-and-mortar and online

Brookland Federal Credit Union

Founded in 1999, Brookland Federal Credit Union is a not-for-profit financial cooperative that provides financial services to members of Brookland Baptist Church and their immediate family members. If you join Brookland Federal, you and your family have a lifetime membership.

• Branches: Brookland Federal Credit Union (West Columbia, S.C.)
• ATMs: Via PULSE® and STARS® networks
• State: South Carolina
• Services: Savings, checking, loans, and other services (financial literacy, guaranteed auto protection, etc.)
• Assets: $4.63 million
• Availability: Brick-and-mortar and online

Brooklyn Cooperative Federal Credit Union

Brooklyn Cooperative Federal Credit Union, also known as Brooklyn Coop, was originally founded in 2001. Joining Brooklyn Coop requires a piece of mail as proof of address, a government-issued photo ID, Social Security card or individual Tax Identification Number (TIN), and a $25 membership fee plus a $5 minimum savings account balance.

• Branches: Bedford-Stuyvesant Branch (Brooklyn, N.Y.), Bushwick Branch (Brooklyn, N.Y.), and Chestnut Branch (Brooklyn, N.Y.)
• ATMs: Any ATMs in the CO-OP network
• State: New York
• Services: Banking accounts (checking, savings, etc.), loans, and financial counseling and education
• Assets: $48.87 million
• Availability: Brick-and-mortar and online

Carver Federal Savings Bank

Carver Federal Savings Bank was founded in 1948 to serve African American communities with limited access to mainstream financial services. The majority of its branches and ATMs are located in low- to moderate-income neighborhoods. Carver Federal Savings Bank is one of the four banks that are considered Black-operated instead of Black-owned.

• Branches: Atlantic Terminal Branch (Brooklyn, N.Y.), Bedford-Stuyvesant — Restoration Plaza Branch (Brooklyn, N.Y.), Crown Heights Branch (Brooklyn, N.Y.), Flatbush Branch (Brooklyn, N.Y.), St Albans Branch (Jamaica, N.Y.), 125th Street Branch (Manhattan, N.Y.), and Malcolm X Boulevard Branch (Manhattan, N.Y.)
• ATMs: Atlantic Terminal Branch (Brooklyn, N.Y.), Bedford-Stuyvesant — Restoration Plaza Branch (Brooklyn, N.Y.), Crown Heights Branch (Brooklyn, N.Y.), Flatbush Branch (Brooklyn, N.Y.), St Albans Branch (Jamaica, N.Y.), 125th Street Branch (Manhattan, N.Y.), Malcolm X Boulevard Branch (Manhattan, N.Y.), and all ATMs in the JPMorgan Chase, Wells Fargo, and Allpoint networks
• State: New York
• Services: Personal and business banking, loans, and community cash
• Assets: $776.91 million
• Availability: Brick-and-mortar and online

Carver State Bank

Established in 1927, Georgia Savings and Realty Corp. was a small, private bank as well as a real estate investment and management company. By 1962, Carver had become a full-service commercial bank, thus its name was changed once more to Carver State Bank.

• Branches: Main Office (Savannah, Ga.) and Skidaway Branch (Savannah, Ga.)
• ATMs: Main Office (Savannah, Ga.), Skidaway Branch (Savannah, Ga.), and any ATMs in the Wells Fargo and MoneyPass networks
• State: Georgia
• Services: Personal accounts (checking and savings), business accounts, loans, development programs, and other services (cashier’s checks, money orders, etc.)
• Assets: $81.91 million
• Availability: Brick-and-mortar and online

Citizens Bank

In 1904, originally founded as One Cent Savings Bank, Citizens Bank became the first minority-owned bank in Tennessee. Citizens Bank is the oldest continuously operating Black-owned bank in the U.S.

• Branches: Corporate Headquarters (Nashville, Tenn.), Main Office (Nashville, Tenn.), and Memphis Branch (Memphis, Tenn.)
• ATMs: N/A
• State: Tennessee
• Services: Personal and business banking (checking and savings), credit cards, and loans (personal, business, etc.)
• Assets: $176.28 million
• Availability: Brick-and-mortar and online

Citizens Trust Bank

In 1921, Citizens Trust Bank was created to serve the African American citizens of Atlanta. Today, the bank plays an active role in providing sponsorship support for multiple community organizations.

• Branches: Birmingham (Birmingham, Ala.), Eutaw Branch (Eutaw, Ala.), Cascade Branch (Atlanta), Corporate Headquarters (Atlanta), Westside Branch (Atlanta), East Point Branch (East Point, Ga.), Rockbridge Branch (Stone Mountain, Ga.), and Panola Branch (Stonecrest, Ga.)
• ATMs: Castleberry Inn ATM (Atlanta), Westside ATM (Atlanta), South Dekalb Mall ATM (Decatur, Ga.), Lithonia ATM (Lithonia, Ga.), Rockbridge Plaza ATM (Stone Mountain, Ga.), Stone Mountain ATM (Stone Mountain, Ga.), and Panola ATM (Stonecrest, Ga.)
• States: Alabama and Georgia
• Services: Banking (savings, checking, etc.) and borrowing (loans, credit cards, etc.) services
• Assets: $741.41 million
• Availability: Online and brick-and-mortar

City First Bank

City First Bank is a subsidiary of Broadway Financial Corp. that was founded in 1998. In 2021, City First Bank merged with Broadway Federal Bank to become the largest Black-led MDI in the U.S. and the one of two with more than $1 billion in total assets. City First Bank is also one of the four banks that are considered Black-operated instead of Black-owned.

• Branches: Exposition Park Branch (Los Angeles), Inglewood Branch (Los Angeles), and Branch & Corporate HQ (Washington, D.C.)
• ATMs: Exposition Park Branch (Los Angeles), Inglewood Branch (Los Angeles), and Branch & Corporate HQ (Washington, D.C.), in addition to any ATMs in the MoneyPass network
• Locations: California and Washington, D.C.
• Services: Personal and business banking (checking, savings, etc.), small business finance, and cash management
• Assets: $1.38 billion
• Availability: Brick-and-mortar and online

Columbia Savings & Loan

Columbia Savings & Loan has served Milwaukee’s inner city, particularly its growing minority population, since 1924.

• Branches: Columbia Savings & Loan Association (Milwaukee)
• ATMs: N/A
• State: Wisconsin
• Services: Mortgages, church loans, certificates of deposit (CDs), and individual retirement accounts (IRAs)
• Assets: $27.37 million
• Availability: Brick-and-mortar only

Commonwealth National Bank

Founded in 1976, Commonwealth National Bank is a full-service nationally chartered commercial institution. Commonwealth is the sole bank headquartered in Mobile, Ala., out of the 45 banks doing business there. In addition to being the only MDI in Mobile, it is one of two in Alabama.

• Branches: Main Office Branch (Mobile) and Crichton Branch (Mobile)
• ATMs: Main Office Branch (Mobile), Crichton Branch (Mobile), any Publix Super Market ATM, and any PNC Bank ATM
• State: Alabama
• Services: Consumer and business services, in addition to loans
• Assets: $66.94 million
• Availability: Brick-and-mortar and online

Credit Union of Atlanta

Founded in 1928, the Credit Union of Atlanta remained stable and secure throughout the Great Depression. Any profits earned are used to secure better rates for the institution’s members.

• Branches: Main Office (Atlanta) and Pryor Street Lending Center (Atlanta)
• ATMs: Atlanta Detention Center (Atlanta), Atlanta Public Safety Annex (Atlanta), Credit Union of Atlanta (Atlanta), and Pryor Street Lending Center (Atlanta), in addition to any ATMs in the MoneyPass and STAR networks
• State: Georgia
• Services: Personal savings and checking, business checking, credit builder and personal loans, and payment protection
• Assets: $80.07 million
• Availability: Brick-and-mortar and online

Faith Community United Credit Union

Originally chartered in 1952 as Second Mount Sinai Baptist Church Credit Union, Faith Community United Credit Union became a Community Development Credit Union (CDCU) in 1991. Faith is one of the largest minority-owned credit unions in Ohio, and it is available to anyone who lives, works, worships, or attends school in Cuyahoga County, as well as their family, business, and organization. Membership is also possible through a Select Employee Group (SEG).

• Branches: Faith Community United Credit Union (Cleveland)
• ATMs: N/A
• State: Ohio
• Services: Deposit services, loan services, insurance, and other services
• Assets: $15.60 million
• Availability: Brick-and-mortar and online

Faith Cooperative Federal Credit Union

The story of Faith Cooperative Federal Credit Union is a tale of two different organizations. St. John Federal Credit Union was founded in 1959. It became known as Faith Cooperative Federal Credit Union after it was integrated with Friendship-West Baptist Church’s vision of a microloan bank.

• Branches: Administrative Offices (Dallas)
• ATM: One located “near the Banquet Hall”
• State: Texas
• Services: Savings, loans, and gap protection
• Assets: $2.08 million
• Availability: Brick-and-mortar and online

FAMU Federal Credit Union

On May 8, 1935, six individuals were convinced to deposit $50 to acquire a federal credit union charter, resulting in the founding of Florida A&M College Employees Federal Credit Union. By 1953, the organization renamed to Florida A&M University Federal Credit Union due to its location on the FAMU campus.

• Branches: Office (Tallahassee)
• ATMs: One located in the “first drive-thru lane” as well as any ATMs that are part of American Express, CULIANCE, The Exchange, Honors, Member Access, Plus, Presto, Publix, Walmart, and “other credit unions with the participating listed networks”
• State: Florida
• Services: Accounts (checking, savings, money market accounts), Rattler debit and VISA credit cards, loans, wire transfers, and other services (notary services, bill payments, etc.)
• Assets: $29.09 million
• Availability: Brick-and-mortar and online

Financial Health Federal Credit Union

Financial Health Federal Credit Union has been serving its local community, which is more than 10,000 Indianapolis members strong, since 1971. Membership is limited to employees of Indiana University (IU) Health and its affiliates as well as individuals who live, work, worship, or attend school in one of 12 Indianapolis ZIP codes.

• Branches: IU Health West Hospital (Avon, Ind.), East Branch (Indianapolis), Indianapolis Urban League Branch (Indianapolis), IU Health Medical Tower (Indianapolis), and Sunstone Branch (Indianapolis)
• ATMs: IU Health West Medical Center (Avon, Ind.), IU Health North Medical Center (Carmel, Ind.), East Branch (Indianapolis), Indianapolis Urban League Branch (Indianapolis), IU Health University Hospital (Indianapolis), Methodist Hospital (3) (Indianapolis), and Sunstone Branch (Indianapolis), in addition to any ATMs in the Alliance One network)
• State: Indiana
• Services: Deposit accounts (checking, savings, etc.) and loans (personal, auto, etc.)
• Assets: $35.22 million
• Availability: Brick-and-mortar and online

First Independence Bank

In business since May 11, 1970, First Independence Bank has served the Detroit metropolitan area for 50 years. First Independence is the sole African American‐owned bank headquartered in Michigan, in addition to being one of two banks headquartered in Detroit.

• Branches: Main Office Branch (Detroit), Seven Mile Branch (Detroit), Lake Street Branch (Minneapolis), and University Branch (Minneapolis)
• ATMs: Clinton Township (Clinton Township, Mich.), 1st Floor International Building (Detroit), City County Building (Detroit), Livernois (Detroit), Main Office Branch (Detroit), Seven Mile Branch (Detroit), Lake Street Branch (Minneapolis), and University Branch (Minneapolis), in addition to any ATMs in the FIB, Fifth Third Bank, Huntington National Bank, U.S. Bank, JPMorgan Chase Bank, Bank of America, Wells Fargo Bank, and Bremer Bank networks
• State: Michigan and Minnesota
• Services: Consumer and business services, in addition to loans
• Assets: $607.17 million
• Availability: Brick-and-mortar and online

First Legacy Community Credit Union

The School Workers Federal Credit Union was founded by a group of educators in Feb. 14, 1941. On Jan. 1, 2020, First Legacy Community Credit Union merged with Self-Help Federal Credit Union and now operates as a division of Self-Help.

• Branches: Apopka Branch (Apopka, Fla.), DeLand Branch (DeLand, Fla.), Jacksonville (Kendall Town) Branch (Jacksonville, Fla.), Jacksonville (River City) Branch (Jacksonville, Fla.), Jacksonville (Westside) Branch (Jacksonville, Fla.), Jacksonville Downtown (JEA Tower) Branch (Jacksonville, Fla.), Miami Springs (Miami Springs, Fla.), Tallahassee Branch (Tallahassee, Fla.), Winter Park Branch (Winter Park Fla.), Asheville Branch (Asheville, N.C.), Asheville (South) Branch (Asheville, N.C.), Charlotte Branch (Charlotte, N.C.), Charlotte (Beatties Ford Road) Branch (Charlotte, N.C.), Durham (South Mangum Street) Branch (Durham, N.C.), Durham (West Main Street) Branch (Durham, N.C.), Brevard Branch (Pisgah Forest, N.C.), Greensboro Branch (Greensboro, N.C.), Hendersonville Branch (Hendersonville, N.C.), Kinston Branch (Kinston, N.C.), Laurinburg Branch (Laurinburg, N.C.), Lexington Branch (Lexington, N.C.), Maiden Branch (Maiden, N.C.), Morganton Branch (Morganton, N.C.), Old Fort Branch (Old Fort, N.C.), Raleigh Branch (Raleigh, N.C.), Rocky Mount Branch (Rocky Mount, N.C.), Rosman Branch (Rosman, N.C.), Salisbury Branch (Salisbury, N.C.), Wilmington Branch (Wilmington, N.C.), Wilson Branch (Wilson, N.C.), Windsor Branch (Windsor, N.C.), Columbia (Bush River Road) Branch (Columbia, S.C.), Columbia (Federal Building) Branch (Columbia, S.C.), Greenville (Garlington Road) Branch (Greenville, S.C.), Greenville (Mills Ave.) Branch (Greenville, S.C.), Greenville (Woodruff Road) Branch (Greenville, S.C.), Piedmont (Aviation) Branch (Piedmont, S.C.), and Galax Branch (Galax, Va.)
• ATMs: Apopka Branch (Apopka, Fla.), DeLand Branch (DeLand, Fla.), Jacksonville (Kendall Town) Branch (Jacksonville, Fla.), Jacksonville (River City) Branch (Jacksonville, Fla.), Jacksonville (Westside) Branch (Jacksonville, Fla.), Jacksonville Downtown (JEA Tower) Branch (Jacksonville, Fla.), Miami Springs (Miami Springs, Fla.), Tallahassee Branch (Tallahassee, Fla.), Winter Park Branch (Winter Park Fla.), Asheville Branch (Asheville, N.C.), Asheville (South) Branch (Asheville, N.C.), Charlotte Branch (Charlotte, N.C.), Charlotte (Beatties Ford Road) Branch (Charlotte, N.C.), Durham (South Mangum Street) Branch (Durham, N.C.), Durham (West Main Street) Branch (Durham, N.C.), Brevard Branch (Pisgah Forest, N.C.), Greensboro Branch (Greensboro, N.C.), Hendersonville Branch (Hendersonville, N.C.), Kinston Branch (Kinston, N.C.), Laurinburg Branch (Laurinburg, N.C.), Lexington Branch (Lexington, N.C.), Maiden Branch (Maiden, N.C.), Morganton Branch (Morganton, N.C.), Old Fort Branch (Old Fort, N.C.), Raleigh Branch (Raleigh, N.C.), Rocky Mount Branch (Rocky Mount, N.C.), Rosman Branch (Rosman, N.C.), Salisbury Branch (Salisbury, N.C.), Wilmington Branch (Wilmington, N.C.), Wilson Branch (Wilson, N.C.), Windsor Branch (Windsor, N.C.), Columbia (Bush River Road) Branch (Columbia, S.C.), Columbia (Federal Building) Branch (Columbia, S.C.), Greenville (Garlington Road) Branch (Greenville, S.C.), Greenville (Mills Ave.) Branch (Greenville, S.C.), Greenville (Woodruff Road) Branch (Greenville, S.C.), Piedmont (Aviation) Branch (Piedmont, S.C.), and Galax Branch (Galax, Va.), in addition to any ATMs in the Cashpoint and CO-OP networks
• States: Florida, North Carolina, South Carolina, and Virginia
• Services: Personal and business accounts, loans, and services, in addition to real estate
• Assets: First Legacy operates as a division of Self-Help, which claims more than $1.7 billion in assets.
• Availability: Brick-and-mortar and online

First Security Bank and Trust Company

First Security Bank and Trust Company is located in the heart of Oklahoma City. The bank was among the state’s top ten participating banks in the SBA’s Paycheck Protection Program, supporting local small businesses hardest hit by the subsequent economic lockdowns. According to First Security's website, 96% of its PPP loans went to minority-owned businesses throughout 2020 and 2021.

• Branches: Main branch (Oklahoma City, Oklahoma).
• ATMs: N/A
• State: Oklahoma.
• Assets: $119.35 million
• Availability: Brick-and-mortar and online.

GN Bank

In 1934—after working closely with Federal Home Loan Bank of Chicago—13 African American men founded Illinois Service Federal to provide a savings and loan association for Black Chicagoans. The institution was acquired by Groupe Ndoum in 2016, which led to its name change to GN Bank in 2018.

• Branches: Main Office (Chicago) and Chatham Office (Chicago)
• ATMs: N/A
• State: Illinois
• Services: Personal checking and savings accounts as well as business services, lending services, and credit cards
• Assets: $63.90 million
• Availability: Brick-and-mortar and online

Greater Kinston Credit Union

Greater Kinston Credit Union was founded in 1952 and provides a variety of loans and deposit accounts. People who live, work, worship, or attend functions in Lenoir, Greene, Jones, Craven, and Pitt counties in North Carolina are eligible for membership.

• Branches: Branch Office (Kinston, N.C.)
• ATMs: Part of the CashPoints network
• State: North Carolina
• Services: Debit and credit cards; deposit (checking, savings, etc.), nonprofit, and youth accounts; mortgage and personal lending; and other services (automated services, branch services, etc.)
• Assets: $14.08 million
• Availability: Brick-and-mortar and online

Hill District Federal Credit Union

Hill District Federal Credit Union got its start in 1970 and has provided financial services to its members for 50-plus years. People who live, work, or worship in Pittsburgh’s Hill District—as well as members of an organization that provides economic assistance in the same area—are eligible to join this institution.

• Branches: Hill District Federal Credit Union (Pittsburgh)
• ATMs: N/A
• State: Pennsylvania
• Services: Debit and gift cards, savings, checking, loans, other services (money orders, financial literacy classes, etc.)
• Assets: $14.36 million
• Availability: Brick-and-mortar and online

Hope Credit Union

In 1995, members of Anderson United Methodist Church organized Hope Federal Credit Union to help low-income Jackson, Miss., residents with asset development, cooperation, and self-empowerment. Hope has since spread across the Deep South through its sponsors and by merging with other financial organizations, the most recent with Tri-Rivers Federal Credit Union in 2017. In June 2020, Netflix invested $10 million into Hope as part of its $100 million initiative to support economic opportunities for Black communities.

• Branches: Arba Street Branch (Montgomery, Ala.), McGehee Road Branch (Montgomery, Ala.), College Station Branch (College Station, Ark.), Little Rock Branch (Little Rock, Ark.), West Memphis Branch (West Memphis, Ark.), Central City Branch (New Orleans), Elysian Fields Branch (New Orleans), Mississippi Coast Branch (Biloxi, Miss.), Drew Branch (Drew, Miss.), Greenville Branch (Greenville, Miss.), Itta Bena Branch (Itta Bena, Miss.), Medical Mall Branch (Jackson, Miss.), University Boulevard Branch (Jackson, Miss.), Louisville Branch (Louisville, Miss.), Moorhead Branch (Moorhead, Miss.), Shaw Branch (Shaw, Miss.), Terry MS Branch (Terry, Miss.), Utica Branch (Utica, Miss.), West Point Branch (West Point, Miss.), Crosstown Branch (Memphis, Tenn.), Harvester Lane Branch (Memphis, Tenn.), Madison Avenue Branch (Memphis, Tenn.), and Ridgeway Branch (Memphis, Tenn.), in addition to any credit unions in the Shared Branching network
• ATMs: Arba Street Branch (Montgomery, Ala.), McGehee Road Branch (Montgomery, Ala.), College Station Branch (College Station, Ark.), Little Rock Branch (Little Rock, Ark.), West Memphis Branch (West Memphis, Ark.), Central City Branch (New Orleans), Elysian Fields Branch (New Orleans), Mississippi Coast Branch (Biloxi, Miss.), Drew Branch (Drew, Miss.), Greenville Branch (Greenville, Miss.), Itta Bena Branch (Itta Bena, Miss.), Medical Mall Branch (Jackson, Miss.), University Boulevard Branch (Jackson, Miss.), Louisville Branch (Louisville, Miss.), Moorhead Branch (Moorhead, Miss.), Shaw Branch (Shaw, Miss.), Terry MS Branch (Terry, Miss.), Utica Branch (Utica, Miss.), West Point Branch (West Point, Miss.), Crosstown Branch (Memphis, Tenn.), Harvester Lane Branch (Memphis, Tenn.), Madison Avenue Branch (Memphis, Tenn.), and Ridgeway Branch (Memphis, Tenn.)
• States: Alabama, Arkansas, Louisiana, Mississippi, and Tennessee
• Services: Personal (checking and wealth-building accounts, personal loans, credit cards, etc.) and business (checking and loans) banking, in addition to transformational deposits
• Assets: $579.17 million
• Availability: Brick-and-mortar and online

Howard University Employees Federal Credit Union

Originally chartered on Oct. 11, 1935, Howard University Employees Federal Credit Union (FCU) provides financial services to employees of Howard University and their family members. Those who join Howard University Employees FCU have a lifetime membership.

• Branches: C B Powell Building (Washington, D.C.)
• ATMs: Part of the CO-OP and CULIANCE networks
• Location: Washington, D.C.
• Services: Accounts (savings, checking, etc.) and loans
• Assets: $11.09 million
• Availability: Brick-and-mortar and online (home loans only)

Industrial Bank

Industrial Bank first opened on Aug. 20, 1934, and is one of the larger Black-owned banks in the U.S. In addition to a wide variety of financial services, Industrial Bank offers free financial education programs.

• Branches: Harlem Banking Center (Manhattan, N.Y.), Frelinghuysen Banking Center (Newark, N.J.), Halsey Street Banking Center (Newark, N.J.), Anacostia Gateway Banking Center (Washington, D.C.), Forestville Banking Center (Washington, D.C.), Georgia Avenue Banking Center (Washington, D.C.), Oxon Hill Banking Center (Washington, D.C.), and U Street Banking Center (Washington, D.C.)
• ATMs: Forestville Office (Forestville, Md.), Oxon Hill Office (Oxon Hill, Md.), Harlem Office (Manhattan, N.Y.), Frelinghuysen Office (Newark, N.J.), Halsey Street Office (Newark, N.J.), Anacostia Gateway Office (Washington, D.C.), Ben’s Chili Bowl (Washington, D.C.), D.C. Court of Appeals (Washington, D.C.), D.C. Superior Court (2) (Washington, D.C.), Georgia Avenue Office (Washington, D.C.), Nationals Park (Washington, D.C.), and U Street Office (Washington, D.C.), in addition to any ATMs in the Allpoint network
• Locations: Maryland, New Jersey, New York, and Washington, D.C.
• Services: Personal (loans, checking, etc.) and business (services, loans, etc.) services
• Assets: $739.18 million
• Availability: Brick-and-mortar and online

Liberty Bank

Liberty Bank was originally chartered in New Orleans in 1972. After acquiring United Bank and Trust Co. in 2009, its service grew across the Greater New Orleans area. With branches in nine states, Liberty Bank is one of the largest Black-owned banks.

• Branches: Montgomery Liberty Bank (Montgomery, Ala.), Tuskegee Liberty Bank (Tuskegee, Ala.), Liberty Bank Forest Park (Forest Park, Ill.), Kansas City Liberty Bank (Kansas City, Kan.), Louisville Liberty Bank (Louisville, Ky.), Southdowns Liberty Bank (Baton Rouge, La.), Southern Heights Liberty Bank (Baton Rouge, La.), Canal Street Liberty Bank (New Orleans), Crowder Boulevard Liberty Bank (New Orleans), Franklin Avenue Liberty Bank (New Orleans), General DeGaulle Liberty Bank (New Orleans), Gentilly Boulevard Liberty Bank (New Orleans), Woodward Avenue Liberty Bank (Detroit), Jackson Liberty Bank (Jackson, Miss.), Kansas City Liberty Bank (Kansas City, Mo.), and Liberty Bank Memphis (Memphis, Tenn.)
• ATMs: Montgomery Liberty Bank (Montgomery, Ala.), Tuskegee Liberty Bank (Tuskegee, Ala.), Liberty Bank Forest Park (Forest Park, Ill.), 4850 State St. (Kansas City, Kan.), Southdowns Liberty Bank (Baton Rouge, La.), Southern Heights Liberty Bank (Baton Rouge, La.), 910-B Decatur St. (New Orleans), 2714 Canal St. (New Orleans), 2800 Gravier St. (New Orleans), American Can (New Orleans), Canal Street Liberty Bank (New Orleans), City Hall (New Orleans), Crowder Boulevard Liberty Bank (New Orleans), Dillard — Rosenwald Hall (New Orleans), Franklin Rouses (New Orleans), French Market (New Orleans), General DeGaulle Liberty Bank (New Orleans), Gentilly Boulevard Liberty Bank (New Orleans), Lafon Nursing Facility (New Orleans), Lockheed Martin Buildings 102 & 350 (New Orleans), Orleans Sheriff (New Orleans), Xavier University (2) (New Orleans), Jackson Evers International Airport (Jackson, Miss.), Jackson Liberty Bank (Jackson, Miss.), Student Center (Jackson, Miss.), Tougaloo College (Jackson, Miss.), Union Station (Jackson, Miss.), and Liberty Bank Memphis (Memphis, Tenn.)
• States: Alabama, Illinois, Kansas, Kentucky, Louisiana, Michigan, Mississippi, Missouri, and Tennessee
• Services: Personal (checking, savings, etc.), business (checking, savings, etc.), and institutional (cash management, corporate financing, etc.) services
• Assets: $1.05 billion
• Availability: Brick-and-mortar and online

Liberty Savings Federal Credit Union

Hudson County School Employees Federal Credit Union was founded in 1951 by William and Catherine Miller. The name was changed to Educational Federal Credit Union 1977 before becoming Liberty Savings Federal Credit Union nine years later. Membership is open to anyone who lives, works, worships, or attends school in Hudson County, N.J., or falls within a lengthy list of employment, education, and organizational eligibilities.

• Branches: City Line Branch (Bayonne, N.J.), Five Corners Main Branch (Jersey City, N.J.), and North Hudson Branch (Union City, N.J.)
• ATMs: City Line Branch (Bayonne, N.J.), Five Corners Main Branch (Jersey City, N.J.), and North Hudson Branch (Union City, N.J.), in addition to any ATMs in the CO-OP network
• State: New Jersey
• Services: Deposit accounts (checking, IRA, etc.), loans (auto, mortgages, etc.), insurance services, and investment counseling
• Assets: Liberty claims $115 million
• Availability: Brick-and-mortar and online

Lower East Side People’s Federal Credit Union

Lower East Side (LES) People’s Federal Credit Union was originally organized in 1986 to promote economic justice and opportunity in New York City neighborhoods. Individuals interested in joining LES People’s FCU will need to open a share (savings) account and must be one of the following: individuals who live, work, volunteer, worship, attend school, or belong to any organization located in the Lower East Side, Central Harlem, East Harlem, or the North Shore of Staten Island; any organization or business located in these communities; residents of New York City who have an annual income of less than $48,500; anyone who lives in an Housing Development Fund Corp. (HDFC) co-op building; graduates of the Getting Ahead personal financial management class; anyone affiliated with one of its Select Partner Groups; or a family member of an existing member.

• Branches: East Harlem Branch (Manhattan, N.Y.), Lower East Side Branch (Manhattan, N.Y.), and North Shore Branch (Manhattan, N.Y.)
• ATMs: Any ATMs in the CO-OP network
• State: New York
• Services: Personal (checking, money market, etc.) and business (savings, checking, etc.) accounts as well as loans (personal, auto, etc.)
• Assets: $88.39 million
• Availability: Brick-and-mortar and online

Mechanics & Farmers Bank

Founded in 1907 by nine businessmen, Mechanics & Farmers Bank (M&F) is a state-chartered commercial bank. By 1935, M&F Bank became the first lending institution in North Carolina to receive Federal Housing Administration (FHA) certification. Mechanics & Farmers merged with Fraternal Bank & Trust in 1921 and acquired Mutual Community Savings Bank in 2008.

• Branches: Charlotte Branch (Charlotte, N.C.), Corporate Headquarters (Durham, N.C.), Durham Branch (Durham, N.C.), Durham Branch — Durham-Chapel Hill Boulevard (Durham, N.C.), Greensboro Branch (Greensboro, N.C.), Raleigh Branch — East Hargett Street (Raleigh, N.C.), Raleigh Branch — Rock Quarry Road (Raleigh, N.C.), and Winston-Salem Branch (Winston-Salem, N.C.)
• ATMs: Any ATMs in the Wells Fargo, JPMorgan Chase, and Bank of America networks
• State: North Carolina
• Services: Personal (checking and savings accounts, loans, etc.) and business (commercial checking and savings, loans, etc.) services, in addition to wealth management
• Assets: $429.61 million
• Availability: Brick-and-mortar and online

Mount Olive Baptist Church Federal Credit Union

Mount Olive Baptist Church Federal Credit Union is a faith-based, not-for-profit financial institution. It received its federal charter on Oct. 21, 1997. Mount Olive Baptist Church members and their immediate families are eligible to join this organization.

• Branches: Mount Olive Baptist Church FCU (Arlington, Texas)
• ATMs: N/A
• State: Texas
• Services: Loans (auto, unsecured, etc.), savings accounts, direct deposits, and wire transfers
• Assets: $10.31 million
• Availability: Brick-and-mortar and online

Oak Cliff Christian Federal Credit Union

Officially chartered on Sept. 22, 2008, Oak Cliff Christian Federal Credit Union is a Christian-based financial institution sponsored by Oak Cliff Bible Fellowship. Members, employees, students, or family of Oak Cliff Bible Fellowship (and its subsidiaries) are eligible to join the organization.

• Branches: Oak Cliff Christian FCU (Dallas)
• ATMs: N/A
• State: Texas
• Services: Loans, financial products (IRAs, money market, etc.), direct deposit, money orders, and credit reports
• Assets: $7.59 million
• Availability: Brick-and-mortar and online

Omega Psi Phi Fraternity Federal Credit Union

Founded in 1986, Omega Psi Phi Fraternity Federal Credit Union is open to members of the fraternity, including its chapters, districts, and other related organizations, and their families, in addition to employees of both the fraternity and the credit union itself.

• Branches: Omega Psi Phi Fraternity Federal Credit Union c/o CAMO (Toccoa, Ga.)
• ATMs: N/A
• State: Georgia
• Services: Accounts (single, joint, etc.), share draft checking, loans, and credit cards
• Assets: $4.79 million
• Availability: Brick-and-mortar and online

OneUnited Bank

OneUnited Bank was the first online-only Black-owned bank and is the largest Black-owned bank in the U.S. Originally founded in 1968 as Unity Bank and Trust Co., OneUnited has financed almost $1 billion in loans thus far, predominantly in low- to moderate-income communities.

“Everyone is talking about OneUnited Bank now, but what they’re not focusing on with OneUnited Bank is they’re heavily engaged in financial education and financial literacy in the cities that need it most,” Tyrone Ross, CEO of Onramp Invest, explains. “So I feel like right now, when you support OneUnited, again you get those end roads into their programs they already have instituted to provide access to financial education and financial literacy.”

• Branches: Compton Branch (Compton, Calif.), Corporate Office and Crenshaw Branch (Los Angeles), Miami Branch (Miami), Corporate Headquarters (Boston), Grove Hall Branch (Dorchester, Mass.), and Roxbury Branch (Roxbury, Mass.)
• ATMs: Part of the MoneyPass network or Chase Bank ATMs
• States: California, Florida, and Massachusetts
• Services: Checking, savings, and secured VISA credit card
• Assets: $755.71 million
• Availability: Brick-and-mortar and online

OPTUS Bank

The story of OPTUS Bank began in 1921, with the founding of Victory Savings Bank by a group of African American leaders. OPTUS is committed to helping anyone, regardless of background or situation, build their wealth and improve their lives.

• Branches: Main Branch (Columbia, S.C.)
• ATMs: Corporate Office (Columbia, S.C.) and Main Branch (Columbia, S.C.)
• State: South Carolina
• Services: Personal (IRAs, consumer loans, etc.) and business (transaction accounts, merchant services, etc.) banking
• Assets: $524.93 million
• Availability: Brick-and-mortar and online

South Side Community Federal Credit Union

Since 2003, South Side Community Federal Credit Union has offered access to credit and savings services, in addition to financial education, for its members. Individuals are eligible for membership if they live, work, worship, attend school, or belong to an organization within Chicago’s South Side.

• Branches: South Side Community Federal Credit Union (Chicago)
• ATMs: N/A
• State: Illinois
• Services: Accounts (savings, checking, etc.), loans (payroll advance, payday alternative, etc.), financial education classes, and other services (transfer sweeps, money orders, etc.)
• Assets: $6.05 million
• Availability: Brick-and-mortar and online

Southern Teachers & Parents Federal Credit Union

With more than 80 years of service, Southern Teachers & Parents Federal Credit Union provides personalized financial services to its members. Those eligible for membership include alumni, employees, parents, and students of Southern University; employees in Louisiana’s Assumption, East Baton Rouge, Lafourche, and West Feliciana parishes; employees in Thibodaux and the Lafourche Parish Juvenile Justice Facility; and their family members.

• Branches: Main Office (Baton Rouge, La.) and Lafeda Branch (Thibodaux, La.)
• ATMs: Part of the CULIANCE network
• State: Louisiana
• Services: Accounts (checking, savings, and youth), loans, and other services (VISA debit and credit cards, financial counseling, etc.)
• Assets: $29.38 million
• Availability: Brick-and-mortar and online

St. Louis Community Credit Union

Originally chartered in 1942 as Teachers Credit Union, St. Louis Community Credit Union offers both financial services and several programs to support consumers in the local community. Individuals who live or work in St. Louis City, Franklin, and St. Louis County in Missouri—as well as in St. Clair, Madison, Monroe, and Jersey counties in Illinois—are eligible for membership, in addition to their families.

• Branches: Ferguson Branch (Ferguson, Mo.), Florissant Branch (Florissant, Mo.), Richmond Heights Branch (Richmond Heights, Mo.), St. John Branch (St. John, Mo.), Benton Park Branch (St. Louis), Delmar Divine Branch (St. Louis), Gateway Branch (St. Louis), LifeWise STL (St. Louis), Midtown Branch (St. Louis), South City Branch (St. Louis), Southtown Branch (St. Louis), Sullivan Branch (St. Louis), Urban League of Metropolitan St. Louis — Peter Bunce Campus (St. Louis), Jennings Branch (St. Louis), University City Branch (University City, Mo.), and Wellston — MET Center (Wellston, Mo.)
• ATMs: Part of the CO-OP network
• State: Missouri
• Services: Loans (auto, personal, etc.), accounts (savings and checking), business development, advocacy, and insurance (life, accidental death and dismemberment (AD&D), etc.)
• Assets: $397.31 million
• Availability: Brick-and-mortar and online

The Harbor Bank of Maryland

Originally opening its doors in September 1982, The Harbor Bank of Maryland offers banking and other financial services, primarily in the Baltimore metropolitan area. Harbor Bank was also the first community bank in the U.S. to have an investment subsidiary and the first to receive funding from Fannie Mae via the Community Development Financial Institution (CDFI) program. Harbor Bank is one of the four banks that are considered Black-operated instead of Black-owned.

• Branches: Fayette Branch (Baltimore), Harbor East Branch (Baltimore), Northwood Commons Branch (Baltimore), Pimlico Office (Baltimore), Research Park Office (Baltimore), Science & Technology Park Branch (Baltimore), Randallstown Office (Randallstown, Md.), and Silver Spring (Silver Spring, Md.)
• ATMs: Fayette Branch (Baltimore), Harbor East Branch (Baltimore), Pimlico Office (Baltimore), Research Park Office (Baltimore), Science & Technology Park Branch (Baltimore), and Randallstown Office (Randallstown, Md.), in addition to any ATMs in the AllPoint network
• State: Maryland
• Services: Personal (checking, mortgages, etc.) and business (checking, savings, etc.) banking, in addition to loans (personal, mortgage, and business)
• Assets: $377.95 million
• Availability: Brick-and-mortar and online

Tioga-Franklin Savings Bank

Founded as Tioga Building & Loan Association on March 31, 1873, TBLA was a facet of Philadelphia’s banking community through the Spanish-American War, Word War I, the stock market crash of 1929, World War II, and every financial event up to OPEC oil shock of 1973. That year, TBLA merged with the Franklin Savings and Loan Association to form the Tioga Franklin Savings Association. Then in July 2000, the bank was renamed Tioga Franklin Savings Bank and became a member of the FDIC, making it Philadelphia’s oldest chartered bank. Tioga-Franklin Savings Bank is one of the four banks that are considered Black-operated instead of Black-owned.

• Branches: Main Branch (Philadelphia)
• ATMs: N/A
• State: Pennsylvania
• Services: Personal (checking and savings) and business (checking, savings, etc.) banking, in addition to loans (personal, mortgage, and business)
• Assets: $73.00 million
• Availability: Brick-and-mortar and online

Toledo Urban Federal Credit Union

Toledo Urban Federal Credit Union originally opened its doors on July 21, 1996, to help its members achieve economic empowerment. Membership in the first community development credit union in Toledo, Ohio, is available to individuals who live, work, worship, perform volunteer services, or participate in associations headquartered in the central city community, in addition to their families.

• Branches: Toledo Urban Federal Credit Union (Toledo, Ohio)
• ATMs: N/A
• State: Ohio
• Services: Checking and share accounts, loans (personal, tuition, etc.), credit and ATM/debit cards, credit counseling, and other services (notary service, overdraft protection, etc.)
• Assets: $15.93 million
• Availability: Brick-and-mortar and online

United Bank of Philadelphia

Originally founded in 1992, United Bank of Philadelphia offers personalized banking services in the Greater Philadelphia area to both individuals and businesses. By providing financing to small businesses in urban areas, United Bank supports their growth and allows them to create jobs with livable wages, thus improving the economic condition of those working in the local community.

• Branches: Center City (Philadelphia) and Progress Plaza (Philadelphia)
• ATMs: C-Town Supermarket (Philadelphia), City Hall (Philadelphia), Criminal Justice Center (Philadelphia), Masjidullah Inc. (Philadelphia), Philadelphia Traffic Court (Philadelphia), Police Districts (Philadelphia), The Fillmore-Philadelphia (Philadelphia), and West Philadelphia (Philadelphia)
• State: Pennsylvania
• Services: Personal and business banking (checking, savings, etc.), in addition to loans (U.S. Small Business Administration (SBA) and commercial loans)
• Assets: $55.72 million
• Availability: Brick-and-mortar and online

Unity National Bank

Unity National Bank was founded in 1963 and chartered in 1985. “In February 1989, through a series of transactions and diligent efforts, it was acquired from Bay Bancshares by local minority leaders,” the bank’s history reports. Unity focuses on helping to rebuild the community with an emphasis on commercial loans and mortgages. It also works closely with civic organizations and agencies, such as the NAACP and the Third Ward Redevelopment Council.

• Branches: Atlanta Branch (Atlanta), Blodgett Branch (Houston), and Fort Bend Branch (Missouri City, Texas)
• ATMs: Atlanta Branch (Atlanta), Blodgett Branch (Houston), and Fort Bend Branch (Missouri City, Texas), in addition to any ATMs in the Select network
• States: Georgia and Texas
• Services: Business and personal services (loans, checking and savings accounts, etc.)
• Assets: $209.01 million
• Availability: Brick-and-mortar and online

Urban Upbound Federal Credit Union

Urban Upbound Federal Credit Union was founded in 2004, to provide six integrated programs to individuals living in public housing and and other low- and moderate-income neighborhoods. Urban Upbound offers affordable financial services to its members.

• Branches: Urban Upbound Federal Credit Union (Long Island City, N.Y.)
• ATMs: N/A
• State: New York
• Services: Savings, share certificates, and personal and small business loans
• Assets: $1.95 million
• Availability: Brick-and-mortar and online

Virginia State University Federal Credit Union

Authority to establish Virginia State College Federal Credit Union was granted on Oct. 19, 1938. On May 22, 1979, the organization’s board of directors voted to change the name to Virginia State University Federal Credit Union.

• Branches: Virginia State University Federal Credit Union (South Chesterfield, Va.)
• ATMs: Virginia State University Federal Credit Union (South Chesterfield, Va.)
• State: Virginia
• Services: Loans, accounts (checking, savings, etc.), insurance, and other services (wire transfer, direct deposit, etc.)
• Assets: $12.01 million
• Availability: Brick-and-mortar and online

Article Sources Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.

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123. Credit Unions Online. “Financial Health Federal Credit Union.”

124. Financial Health Federal Credit Union. “Login.”

125. First Independence Bank. “About Us.”

126. First Independence Bank. “Convenient Locations.”

127. First Independence Bank. “ATM Locations.”

128. First Independence Bank. “Consumer Services.”

129. First Independence Bank. “Business Services.”

130. First Independence Bank. “Online Banking.”

131. Self-Help Federal Credit Union. “A Legacy of Education: First Legacy Community Credit Union.”

132. Self-Help Credit Union. “Florida Locations.”

133. Self-Help Credit Union. “North Carolina and Virginia Locations.”

134. Self-Help Credit Union. “South Carolina Locations.”

135. Self-Help Credit Union. “ATM Network.”

136. Self-Help Credit Union. “Locations by State.”

137. Self-Help Credit Union. “All Services.”

138. Self Help Credit Union. "Welcome First Legacy Members."

139. Self-Help Credit Union. “Online Banking.”

140. First Security Bank and Trust Company. "About Us."

141. First Security Bank and Trust Company. "Sign in to Online Banking."

142. GN Bank, via Internet Archive. “History.”

143. GN Bank. "Contact Us."

144. GN Bank. “Welcome to Our Website!”

145. GN Bank. “Checking.”

146. GN Bank. “Savings.”

147. Greater Kinston Credit Union. “Our Mission.”

148. Greater Kinston Credit Union. “Membership Eligibility.”

149. Greater Kinston Credit Union. “Contact Us.”

150. Greater Kinston Credit Union. “CashPoints® ATM.”

151. Greater Kinston Credit Union. “We Are Proud.”

152. iBanknet. “Greater Kinston Credit Union.”

153. Hill District Federal Credit Union. “#HillStrong.”

154. Hill District Federal Credit Union. “A Community Fighting for Survival.”

155. Hill District Federal Credit Union. “Services.”

156. Credit Unions Online. “Hill District Federal Credit Union.”

157. Hill District Federal Credit Union. “Hill District Federal Credit Union E-Service Login.”

158. Hope Credit Union Enterprise Corp. “Hope Credit Union.”

159. Hope Credit Union Enterprise Corp. “Netflix Invests $10 Million in HOPE to Build Economic Opportunity in Black Communities.”

160. Hope Credit Union Enterprise Corp. “Branches/ATM.”

161. Hope Credit Union Enterprise Corp. “Transformational Deposits.”

162. Credit Unions Online. “Hope Credit Union.”

163. Howard University Employees Federal Credit Union. “About.”

164. Howard University Employees Federal Credit Union. “Membership: Who Can Join.”

165. Howard University Employees Federal Credit Union. “ATMs, Location & Hours.”

166. Howard University Employees Federal Credit Union. “Accounts.”

167. Howard University Employees Federal Credit Union. “Loans.”

168. Credit Unions Online. “Howard University Employees Federal Credit Union.”

169. Howard University Employees Federal Credit Union. “Apply for a Home Loan.”

170. Industrial Bank. “Why Industrial.”

171. Industrial Bank. “Financial Education.”

172. Industrial Bank. “Locations.”

173. Industrial Bank. “Industrial’s ATM Locations.”

174. Industrial Bank. “Personal.”

175. Industrial Bank. “Business.”

176. Industrial Bank. “Welcome.”

177. Liberty Bank. “History.”

178. Liberty Bank. “Branch and ATM Locations Page.”

179. Liberty Bank. “Home Page.”

180. Liberty Bank. “Small Business and Personal Online Banking.”

181. Liberty Savings Federal Credit Union. “Our Heritage.”

182. Liberty Savings Federal Credit Union. “Membership Eligibility.”

183. Liberty Savings Federal Credit Union. “Branch Locations & Hours.”

184. Liberty Savings Federal Credit Union. “We’re Right Around the Corner.”

185. Liberty Savings Federal Credit Union. “Lending.”

186. Liberty Savings Federal Credit Union. “Insurance Services & Products.”

187. Liberty Savings Federal Credit Union. “Investment Counseling & Planning.”

188. Liberty Savings Federal Credit Union. “LibertyLink Online Banking.”

189. Lower East Side People’s Federal Credit Union. “About Us.”

190. Lower East Side People’s Federal Credit Union. “Become a Member.”

191. Lower East Side People’s Federal Credit Union. “Contact Us.”

192. Lower East Side People’s Federal Credit Union. “Share (Savings) Account.”

193. Lower East Side People’s Federal Credit Union. “Business Savings & Checking Accounts.”

194. Lower East Side People’s Federal Credit Union. “Personal Loans.”

195. National Credit Union Service Organization. "Lower East Side People’s Federal Credit Union."

196. Lower East Side People’s Federal Credit Union. “Self Registration.”

197. M&F Bank. “Our Mission.”

198. M&F Bank. “Branch Locations.”

199. M&F Bank. “Free Access to a Nationwide ATM Network.”

200. M&F Bank. “Home Page.”

201. M&F Bank. “Wealth Management.”

202. M&F Bank. “Enroll.”

203. Mount Olive Baptist Church Federal Credit Union. “About MOBC FCU.”

204. Mount Olive Baptist Church Federal Credit Union. “Become a Member.”

205. Mount Olive Baptist Church Federal Credit Union. “Contact Information.”

206. Mount Olive Baptist Church Federal Credit Union. “Loan Products.”

207. Mount Olive Baptist Church Federal Credit Union. “Share Savings Accounts.”

208. iBanknet. “Mount Olive Baptist Church Federal Credit Union.”

209. Mount Olive Baptist Church Federal Credit Union. “Online Services.”

210. Oak Cliff Christian Federal Credit Union. “About Us.”

211. Oak Cliff Christian Federal Credit Union. “Contact Us.”

212. Oak Cliff Christian Federal Credit Union. “Loans.”

213. Oak Cliff Christian Federal Credit Union. “Products.”

214. iBanknet. “Oak Cliff Christian Federal Credit Union.”

215. Oak Cliff Christian Federal Credit Union. “Our Services.”

216. Omega Psi Phi Fraternity Federal Credit Union. "Your Credit Union."

217. Omega Psi Phi Fraternity Federal Credit Union. “FAQ: How Do I Join?”

218. Omega Psi Phi Fraternity Credit Union. “Let’s Connect.”

219. Omega Psi Phi Fraternity Credit Union. “Products & Services.”

220. Credit Unions Online. “Omega Psi Phi Fraternity Federal Credit Union.”

221. Omega Psi Phi Fraternity Credit Union. “Join the Credit Union.”

222. OneUnited Bank. “The Legacy of Dr. King and Unity Bank & Trust Lives On.”

223. OneUnited Bank. “Black Wall Street Checking.”

224. OneUnited Bank. “BankBlack Savings.”

225. OneUnited Bank. “Secured Visa Credit Card | UNITY Visa Page.”

226. OneUnited Bank. “Easily Bank On-the-Go with OneUnited Bank.”

227. OPTUS Bank. “About.”

228. OPTUS Bank. “Locations.”

229. OPTUS Bank, via Internet Archive. “Products.”

230. Credit Unions Online. “South Side Community Federal Credit Union.”

231. eHomeAmerica. “South Side Community Federal Credit Union.”

232. South Side Community Federal Credit Union. “FAQs: What Is Your Field of Membership/Who Can Join SSCFCU?”

233. South Side Community Federal Credit Union. “Contact.”

234. South Side Community Federal Credit Union. “Programs.”

235. South Side Community Federal Credit Union. “Services.”

236. South Side Community Federal Credit Union. “Sign-in to South Side Community Federal Credit Union Home Banking.”

237. Southern Teachers & Parents Federal Credit Union. “About Us.”

238. Southern Teachers & Parents Federal Credit Union. “Membership.”

239. Southern Teachers & Parents Federal Credit Union. “Locations.”

240. Southern Teachers & Parents Federal Credit Union. “Links.”

241. Southern Teachers & Parents Federal Credit Union. “Sitemap.”

242. Southern Teachers & Parents Federal Credit Union. “Services.”

243. Credit Unions Online. “Southern Teachers & Parents Federal Credit Union.”

244. Southern Teachers & Parents Federal Credit Union. “Login.”

245. St. Louis Community Credit Union. “Community.”

246. Credit Unions Online. “St. Louis Community Credit Union.”

247. St. Louis Community Credit Union. “Membership.”

248. St. Louis Community Credit Union. “Locations.”

249. St. Louis Community Credit Union. “ATM Service.”

250. St. Louis Community Credit Union. “Loans.”

251. St. Louis Community Credit Union. “Accounts.”

252. St. Louis Community Credit Union. “Online Banking Services.”

253. The Harbor Bank of Maryland. “About Us.”

254. The Harbor Bank of Maryland. “Hours & Locations.”

255. The Harbor Bank of Maryland. “Home Page.”

256. The Harbor Bank of Maryland. “Online Banking Enrollment.”

257. Tioga Franklin Savings Bank. "Philly’s Oldest Chartered Bank."

258. Tioga Franklin Savings Bank. "Business Accounts."

259. Tioga Franklin Savings Bank. "A New Look for Your Internet Banking Tool."

260. Toledo Urban Federal Credit Union. “Services."

261. Toledo Urban Federal Credit Union. “About Us.”

262. Toledo Urban Federal Credit Union. “Contact Us.”

263. Toledo Urban Federal Credit Union. “Services.”

264. Credit Union Online. “Toledo Urban Federal Credit Union.”

265. Toledo Urban Federal Credit Union. “Login.”

266. United Bank of Philadelphia. “About Us.”

267. United Bank of Philadelphia. “So Much More Than Banking.”

268. United Bank of Philadelphia. “Find a Branch or ATM.”

269. United Bank of Philadelphia. “Home Page.”

270. United Bank of Philadelphia. “Account Services: Online Banking.”

271. Unity National Bank. “History.”

272. Unity National Bank. “Locations.”

273. Unity National Bank. “Frequently Asked Questions: Do You Have ATMs?”

274. Unity National Bank. “Home Page.”

275. Unity National Bank. “Online Banking with Bill Pay.”

276. Urban Upbound. “About Us.”

277. Urban Upbound. “Urban Upbound Federal Credit Union.”

278. Urban Upbound Federal Credit Union. “Locations and Hours.”

279. Urban Upbound Federal Credit Union. “Products.”

280. Credit Unions Online. “Urban Upbound Federal Credit Union.”

281. Virginia State University Federal Credit Union. “Our History.”

282. Virginia State University Federal Credit Union. “Locations and Hours.”

283. Virginia State University Federal Credit Union. “Automated Teller Machine (ATM).”

284. Virginia State University Federal Credit Union. “Apply for Loan Page.”

285. Virginia State University Federal Credit Union. “Accounts.”

286. Credit Unions Online. “Virginia State University Federal Credit Union.”

287. Virginia State University Federal Credit Union. “Web-Banking & e-Statements.”

Open a New Bank Account Advertiser Disclosure × The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace. Part of the Series Celebrating Black Voices in Finance

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