Black People Deposit Your Money In Black Owned Banks!

Black People (African Americans ) deposit your money in Black Owned Banks.

A bank is one of the most important if not the most important institution in any community. A bank is a stabilizing force in the community it serves. It loans money to small businesses to help them expand and create jobs. It assist religious and community organizations to help them better address the particular needs of the community. It helps individuals to become home owners and help existing home owners make repairs and additions to their property.The bank does this because it gets the money it uses to make a profit for themselves from the community its located in. People finance the banks , banks in turn should finance the people’s needs. This is how it works in every community except ours.

In the African American community the banks don’t hold up there end of the bargain. They turn down most small business loans that want to reinvest in the community and the loans they do approve they under finance to ensure failure so they can use the failure as an excuse not to finance new projects. Most major banking institutions that service the Black neighborhoods have been guilty of predatory lending practices that caused many foreclosed homes and tremendous debt for the so called Black Middle Class . Long before the practice became common in other communities. They perfected it on us first.  We place our money in their banks but they don’t service our needs.

Black Owned banks have a history of helping the needs of the African American community. However their resources are limited because we don’t deposit our money in our banks. Black people have over a trillion dollars in spending power however most Black banks struggle to get Black people to deposit their money in them. Black people do have money to deposit in banks we just give our money to other people who don’t look like us or care about what happens in our neighborhoods.Why is this? If you take the average inner city neighborhood. You will see check cashing places, pay day advance services. You will see major banking institutions like Chase, Bank Of America, PNC, Comerica etc.These places rob our people with high interest on loans and outrageous check cashing fees.  African American Owned banks have a history of being more financially responsible than their white counter parts. Black owned banks have historically offered better interest rates on your money and less banking fees. However we still put our money in other peoples banks. Why?! Is it still our self hatred and mistrust for one another? Is it still the attitude that the “Whitman’s  Ice Is Always Colder!”

In order to create Black Wealth we must recycle Black Dollars. We must support Black Business. Create more African American owned businesses. The Black Owned Bank is vital to achieving this. Every Black (African American) person who has a checking or savings account should transfer their money to a Black owned bank.  Black business owners especially should do this. How can you say that we should support your business and you deposit your money in a bank that doesn’t support your community! BLACK PEOPLE! BLACK BUSINESS OWNERS TRANSFER YOUR ACCOUNT TODAY!  Here are some links to help you find a African American owned bank in your area.

http://www.littleafrica.com/resources/banks.htm

http://www.blackenterprise.com/be100s-2010/banks/

If there is not a Black Owned bank in your area One United Bank offers online banking services here is their link : https://www.oneunited.com/ No excuses lets get it done Black People!!

Black Business Ownership.Com

Support Your Own This Holiday Season!

I have been a marketing consultant for over 17 years.I have sold and help
businesses sell many products and
services. I have always had a strong desire to see African Americans attain true
freedom and equality. The only way for us to
achieve this is through economic empowerment. That’s why I am dedicated to
creating and building strong Black “African
American” Business.I love to see Black people doing things to create wealth and
happiness for themselves. That’s why I am
passionate about networking with and supporting Black businesses worldwide. I
truly believe that no matter what product or service
we have,no matter what state or country we live in we must support each other We
must create our own businesses and stop giving
our wealth to others who don’t care about us or our community.
We must network with and support our own kind first as all other ethnic
groups do. When we make a conscious effort to do this we
can build wealth for ourselves and children. We all can start this holiday
season by make a commitment to at least spend some of your dollars with Black
(African American) owned businesses. This is a good star. However it’s just the
beginning . The most important thing you should do is star your own business.
In today’s economic climate this is the only way to secure your family’s
future. You can start part time. Get together with other like minded people and
pool your resources. This must and has to be done.Black Business Ownership

Where are all of the Black Business Owners?

When I was growing up in Detroit Michigan. I could walk to the corner store and be greeted by the  Black store owner or one of his children or grandchildren whom I went to school with. When my parents went the fill up there cars the gas station owner was an African American. He new my parents name and there was a garage there to fix their vehicles if need. My grandmother owned a beauty salon & she brought her hair care products from a black woman who had an beauty supply company on W. Grand Blvd near the Motown Studios (Hitsville USA).The grocery store was Black owned etc. For all of our basic needs we could shop and spend our hard earned dollars with people who looked like us and had a stake in the community that we lived in. Now let’s fast forward 30 years into the present. The gas station, the corner store,the grocery store, are all owned by people who don’t look like me and don’t care what happens in our community; outside of making sure that we constantly spend our money with them. Where are all of the African American Businesses ? Here in Detroit the only business that are still predominately Black owned are the hair salons and barber shops. However most of the beauty supply stores and nail salons are owned by someone other than Black People. At one time Detroit could boast of having more Black Business Owners than any other major US city. Detroit had the most African American home owners than other US city. Now we are one of the poorest cities in the country. Detroit has one of the highest if not the highest unemployment rates in the country. Detroit is also legendary for it’s crime and murder rates as we see  depicted in ABC’s drama Detroit 187. What happened in the past thirty years? Most of you will say the fall of the Auto Industry. I agree that its decline contributed to our condition as Black people in Detroit. However the most direct reason is the lack of business ownership in the Black community. Don’t get get me wrong there are many Black Owned Businesses in the Metro Detroit Area and I  support them. As I already stated our everyday basic needs the things that we spend the most money on is being spent with people who don’t look like us and don’t care what happens to us. I don’t fault these other people they seen a need and they fulfilled the need. The problem is we need to learn to fulfill our own peoples needs and stop letting others come and take away our wealth. Black people are the most creative and dynamic people in the universe. But we use our talents and gifts to enrich everyone else but ourselves. It’s a thing that’s been added to our culture that has to be removed. Our parents told us to do good in school so you can get a good JOB. Let us make a commitment to  1.Start our own businesses . 2.Support Black Owned Businesses 3. Teach our children to be entrepreneurs instead of employees.  Star your own business today its easier than you think! http://www.blackbusinessownership.com