Historic Atlanta Bank Gets Big Push Amid Calls To #BankBlack
Back in February Killer Mike challenged black people in Atlanta to move their money into a local black bank. Hosting an event alongside Usher, Big K.R.I.T. and Jermaine Dupri, the Run The Jewels rapper encouraged everyone in attendance to open up checking and savings accounts at Citizens Trust Bank, a historic black-owned and operated bank.
Following the fatal shootings of Alton Sterling and Philando Castile, Killer Mike reiterated his challenge during an interview with Hot 107.9 and, according to Citizens Trust Bank, the people listened.
According to a report from Atlanta's WXIA news channel, the bank has received over 8,000 submitted applications to join in the past five days. Since applicants need a minimum of $100 to open an account, that means at least $800,000 has been moved into the bank.
"It's a tremendous propel forward for the bank and the future of the bank and bringing new relevance to a bank that's been here for 95 years," Jay Bailey, chairman of the bank's Next Generation Advisory Board, said. "And, it's a statement about what the next 95 years will look like."
The Citizens Trust Bank was originally founded in 1921, and was integral to lending money to African American business people and homeowners at a time when segregated white banks wouldn't serve their communities.
"Citizens Trust provides a financial foundation for our community," Executive Vice President and Chief Credit Officer Fredrick Daniels said in the same story. "Throughout the years, we've been through depression, been through several recessions; every economic cloud that this country has endured, the bank has sustained and now we're looking to truly grow."
Citizens Trust is one of the many banks affiliated with the #bankblack that's popped up on Twitter. Solange Knowles recently shared that she joined a black-owned bank, and encouraged others to do the same on Instagram. If you're curious about joining a black-owned bank in your area or simply want to see how many exist throughout the country, website Blackout Coalition has made a map of black banks and credit unions in the United States.
