Being financially stable is and should be an important part of everyone’s life. Unfortunately, racial and ethnic income gaps still exist today. Whether it’s having the same income opportunities to white counterparts or even applying for a loan, the opportunities aren’t the same.
In 2018, the median Black household earned just 59 cents for every dollar of income the median white household earned (unchanged from 2017), while the median Latino household earned just 73 cents (down from 74 cents).
This is what Greenwood is hoping to change.
Our communities suffer from a lack of wealth, money circulation in the Black community, and generational transfer. That is why we created a new Black owned financial institution. A mobile banking platform inspired by the early 1900’s Greenwood District, where recirculation of Black wealth occurred all day, every day, and where Black businesses thrived. Today’s Greenwood is a Black owned banking system developed by us, for us.https://bankgreenwood.com/about/
This new institution is a digital mobile banking platform made for Black & Latino customers. They understand their customer base and they are hoping to change that with opportunities available for all.
In addition, for every customer that signs up, they will:
- Feed a Family – Feed 5 meals to a family through Goodr when you create an account.
- Donate to Non-Profits – Give to UNCF and NAACP through spare change round-ups.
- Small Business Grants – We gift $10,000 every month to a Black or Latinx business.
The platform is currently not open yet but if you enter your email here, you’ll be added to their waiting list.
Bonus: The If I Gave A Damn! Podcast hosts (including myself) discuss civic engagement including Greenwood in the “Ya’ll Don’t Know Sh*t About Civic Engagement” episode.