The First Black Woman To Charter A Bank In The United States

The First Black Woman To Charter A Bank In The United States

The First Black Woman To Charter A Bank In The United States

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Maggie Lena Walker is recognized as being the first black woman to charter a bank in the United States.

Maggie Lena Walker (1864–1934)

In 1903 Maggie Lena Walker founded the St. Luke Penny Savings Bank. Serving as the bank’s first president. This earned her the recognition of being the first African-American woman to charter a bank in the United States. Later she agreed to serve as chairman of the board of directors when the bank merged with two other Richmond banks to become the Consolidated Bank and Trust Company. Until 2009, the bank thrived as the oldest continually African American-operated bank in the United States.

 

 

 

Walker shared: “Let us put our money together; let us use our money; let us put our money out at usury among ourselves, and reap the benefit ourselves.”

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