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#BossyApproved Money Moves Helping You
#BankBlack
by Zenobia Jeffries
When Ervin Gardner joined other Black bankers a couple of weeks ago to strategize ways to make credit union services appealing to a younger generation, he was encouraged when the conversation turned to building unity and economic empowerment in Black communities.
“The bottom line is economics,” said Gardner, board member of the Chicago Post Office Employee Credit Union. People in leadership, those making decisions—policy, financial, and otherwise—respect unity and money.
“If African American financial institutions can grow, our issues and grievances can be addressed,” Gardner said, citing lack of investment and inequities in resources for Black communities as well as police abuse.
Gardner and more than a hundred African American credit union professionals and volunteers were attending the annual African American Credit Union Coalition convention, which coincided with a renewed national campaign to #BankBlack as a constructive response to frustrations over discrimination and disempowerment in Black communities.
While the number of Black-owned banks is down to only 22, there are 318 Black credit unions uniquely positioned to invest in their communities. The goal of the convention was to determine how to reach younger customers and increase membership and deposits to credit unions, both of which have been falling in recent years.