My daughter Stephanie is celebrating her 2nd African American High Tea this 2024. Last year the tea's theme was the Harlem Renaissance. This year, it is Celebrating the Legacy of Black Wall Street with an Emphasis on Black Economic Excellence.
In keeping with the theme, I have written two articles. One about Black Financial Institutions of Past. The other about a new Credit Union created by Alpha Kappa Alpha Sorority's own Terri Eason.
Both Article are featured below and are Special Editions!
PAST
BLACK BANKING INSTITUTIONS
The National Bankers Association was established in
1926 with six existing banks among its first members.
They are listed with the years they were incorporated.
Bank Year City
Consolidated Bank 1903 Richmond, Va.
And Trust Company
Citizens Savings 1904 Nashville, Tenn.
Bank and Trust
Merchant and Farmers 1907 Durham, N. C.
Bank
First State Bank 1919 Danville, Va.
Citizens Trust Company 1921 Atlanta, Ga.
Victory Savings Bank 1921 Columbia, S. C.
PRESENT
ALPHA KAPPA ALPHA SORORITY, INC. FEDERAL CREDIT UNION
Alpha Kappa Alpha Sorority, Incorporated was approved by the
National Credit Union Association (NCUA) in 2023 for a members
only federal credit union. It is the first ever black owned and
digital banking financial institution in the United States. It has a
federal license to operate. It has met NCUA requirements.
The For Members Only (FMO) federal credit union was established
under the leadership of the national president (Supreme Basileus)
Danette Anthony Reed to build economic wealth forAlpha Kappa Alpha
Sorority, Inc. in all its ten regions. FMO will be owned and operated by
credit union members. Its first executive director is AKA Terri Bradford
Eason of Greater Cleveland who wants to "strengthen members financial
wellness today and into the future." She also sees it making a
recognizable difference in the community.
