#MoveYourMoney: Black-Owned Banks See Surge of ‘Banking Black’
What started out as a real response to police killings and shootings of unarmed Black men and women, people wanted change. Some are taking to the streets in protests, marches and sit-ins, others have organized to protest with their pocketbook.
The #MoveYourMoney movement has African Americans moving their money from traditional banking institutions to Black-Owned Banks.
The movement has picked up steam and two of Chicago’s Black banks, Illinois Service Federal (ISF) and Seaway National Bank, have reported a spike in new customers. ISF also pledged $1,000 for every new qualifying deposit will go toward small-business loans for the community.