Black-Owned Banks in America: A State-by-State List

History of Black-Owned Banks

The first Black-owned banks were founded to provide economic opportunities and financial services to Black communities that were excluded from mainstream banking. A bank is considered Black-owned if 51% or more of its voting stock is owned by Black Americans who are U.S. citizens or permanent residents.

Capital Savings Bank, the first Black-owned bank, opened on October 17, 1888, in Washington, D.C. Just a few months earlier, True Reformers Bank had become the first Black-owned bank to receive a charter, and officially opened its doors in April 1889 as the second black-owned bank.

By 1934, there were 134 Black-owned banks, but only nine survived the Great Depression. The number of Black-owned banks grew again in the 1970s to around 50, but the savings and loan crisis of the 1980s reduced that number to 27. Today, only 21 Black-owned banks remain. Although few in number, these banks remain crucial for supporting economic growth and opportunities in Black communities.

While there are relatively few Black-owned banks, Black-owned credit unions have a stronger presence, with over 200 currently operating across the country. Black-owned credit unions offer services like checking and savings accounts, affordable loans and financial education. Because they focus on serving their members, credit unions can offer lower fees, better interest rates, and a more personalized approach to financial services.

Black-Owned Banks in America by State

• Alabama
  • Alabama Law Enforcement Credit Union
  • Alamerica Bank
  • Birmingham City Credit Union
  • Citizens Trust Bank
  • Commonwealth National Bank
  • Councill Federal Credit Union
  • Demopolis Federal Credit Union
  • Federation of Greene County Employees Federal Credit Union
  • Fireman’s Credit Union
  • Fedmont Federal Credit Union
  • Gulf Coast Federal Credit Union
  • Liberty Bank & Trust
  • Marvel City Federal Credit Union
  • Montgomery VA Federal Credit Union
  • NRS Community Development Federal Credit Union
  • Sixth Avenue Baptist Federal Credit Union
  • Bridgeway Credit Union
  • TVH Federal Credit Union
• Arkansas
  • Arkansas AM & N College Federal Credit Union
  • Arkansas Education Association Federal Credit Union
  • Arkansas Teachers Federal Credit Union
  • People Trust Community Federal Credit Union
• California
  • Jones Methodist Church Credit Union
  • OneUnited Bank
• Connecticut
  • East End Baptist Tabernacle Federal Credit Union
  • First Baptist Church Federal Credit Union
  • Science Park Federal Credit Union
• Delaware
  • Stepping Stones Community Federal Credit Union
• Florida
  • Florida A&M University Federal Credit Union
  • Madison Education Association Federal Credit Union
  • OneUnited Bank
  • Unity of Eatonville Federal Credit Union
• Georgia
  • 1st Choice Federal Credit Union
  • Big Bethel A.M.E. Church Federal Credit Union
  • Carver State Bank
  • Citizens Trust Bank
  • Credit Union of Atlanta Federal Credit Union
  • F.A.B. Church Federal Credit Union
  • Macon-Bibb Employees Credit Union
  • Omega Psi Phi Fraternity Federal Credit Union
  • Savannah Postal Federal Credit Union
  • Savannah Schools Federal Credit Union
  • Stephens County Community Federal Credit Union
  • United Neighborhood Federal Credit Union
  • Unity National Bank (branch)
  • Valdosta Teachers Federal Credit Union
• Illinois
  • 74th Street Depot Federal Credit Union
  • GN Bank
  • Liberty Bank (branch)
  • Bethel A.M.E. Church Credit Union
  • Berean Credit Union
  • CTAFC Federal Credit Union
  • Chicago Avenue Garage Federal Credit Union
  • CTA South Federal Credit Union
  • Fellowship Baptist Church Credit Union
  • For Members Only Credit Union
  • Gideon Federal Credit Union
  • Imperial Credit Union
  • Israel Methcomm Federal Credit Union
  • Metropolitan Community Church Credit Union
  • M.W.P.H. Grand Lodge of Illinois Federal Credit Union
  • Mt. Zion Credit Union
  • Northside L Federal Credit Union
  • Park Manor Christian Church Credit Union
  • Pilgrim Baptist Credit Union
  • Resurrection Lutheran Federal Credit Union
  • Shiloh Englewood Federal Credit Union
  • South Side Community Federal Credit Union
  • St. Helena Parish Credit Union
  • St. Mark Credit Union
  • St. Martin De Porres Parish Federal Credit Union
  • Trinity United Church of Christ Federal Credit Union
• Indiana
  • Gary Firefighters Association Federal Credit Union
  • Gary Municipal Employees Federal Credit Union
  • Gary Police Department Employees Federal Credit Union
  • Mt. Zion Indianapolis Federal Credit Union
  • Urban Beginnings Choice Federal Credit Union
• Kansas
  • Liberty Bank (branch)
• Kentucky
  • Liberty Bank (branch)
• Louisiana
  • A.M.E. Church Federal Credit Union
  • Avenue Baptist Brotherhood Federal Credit Union
  • Bayou Community Federal Credit Union
  • Caddo Parish Teachers Federal Credit Union
  • Concordia Parish School Employees Federal Credit Union
  • East Baton Rouge Teachers Federal Credit Union
  • Iberia Parish Federal Credit Union
  • Iberville Federal Credit Union
  • James Ward, Jr. Federal Credit Union
  • Liberty Bank
  • OnPath Federal Credit Union
  • Postal Federal Credit Union
  • Rapides Federal Credit Union
  • S.H.P.E. Federal Credit Union
  • S.T.S.P. Federal Credit Union
  • Southeast Louisiana Veterans Health Federal Credit Union
  • St. Mary Parish School Employees Federal Credit Union
  • Teamsters Local Union #270 Federal Credit Union
  • Tulane/Loyola Federal Credit Union
  • Union Farmerville Federal Credit Union
  • Washington Educational Association Federal Credit Union
  • W.B.R.T. Federal Credit Union
• Maryland
  • Andrews Federal Credit Union
  • Local Government Federal Credit Union of Baltimore
  • Mt. Jezreel Federal Credit Union
  • Municipal Employees Credit Union of Baltimore
  • None Suffer Lack Federal Credit Union
  • SecurityPlus Federal Credit Union
  • Transit Employees Federal Credit Union
  • WSSC Federal Credit Union
  • Industrial Bank (branch)
• Massachusetts
  • OneUnited Bank
• Michigan
  • A.B.D. Federal Credit Union
  • First Independence Bank
  • I.M. Detroit District Federal Credit Union
  • Liberty Bank (branch)
  • New Rising Star Federal Credit Union
  • One Detroit Federal Credit Union
  • Southeast Michigan State Employees Federal Credit Union
• Minnesota
  • First Independence Bank (branch)
  • Tribe Federal Credit Union
• Mississippi
  • Citizens Choice Federal Credit Union
  • Community Partners Federal Credit Union
  • First Unity Federal Credit Union
  • Grand Bank for Savings
  • HealthPlus Federal Credit Union
  • Hope Federal Credit Union
  • Issaquena County Federal Credit Union
  • Jackson Area Federal Credit Union
  • JPFCE Federal Credit Union
  • Liberty Bank (branch)
  • Members Exchange Federal Credit Union
  • Meridian Mutual Federal Credit Union
  • Mississippi Public Employees Federal Credit Union
  • Natchez Educators Federal Credit Union
  • Shelby/Bolivar County Federal Credit Union
• Missouri
  • Liberty Bank (branch)
  • Kansas City Credit Union
  • St. Louis Community Credit Union
  • WeDevelopment Federal Credit Union
  • West Side Baptist Church Federal Credit Union
• New Jersey
  • Fort Dix Federal Credit Union
  • Heard A.M.E. Federal Credit Union
  • Industrial Bank (branch)
  • Israel Memorial A.M.E. Federal Credit Union
  • Local 1233 Federal Credit Union
  • Messiah Baptist Church Federal Credit Union
  • Newark Post Office Employees Federal Credit Union
• New York
  • Abyssinian Baptist Church Federal Credit Union
  • Berea Federal Credit Union
  • Brooklyn Cooperative Federal Credit Union
  • Bykota Federal Credit Union
  • Carver FSB
  • Children’s Medical Center Federal Credit Union
  • Church of the Master Federal Credit Union
  • Concord Federal Credit Union
  • Far Rockaway Postal Federal Credit Union
  • Fidelis Federal Credit Union
  • Greater Cleveland Community Federal Credit Union
  • Industrial Bank (branch)
  • Lower East Side People’s Federal Credit Union
  • Neighborhood Trust Federal Credit Union
  • New York University Federal Credit Union
  • Southern Baptist Church of New York Federal Credit Union
  • SPC Federal Credit Union
  • St. Philip’s Church Federal Credit Union
  • Transit Authority Division B Federal Credit Union
  • Urban Empowerment Federal Credit Union
  • Urban Upbound Federal Credit Union
• North Carolina
  • Greater Kinston Federal Credit Union
  • Mechanics & Farmers Bank
  • Mount Vernon Baptist Church Federal Credit Union
• Ohio
  • Adelphi Bank
  • Cleveland Church of Christ Federal Credit Union
  • Greater Cleveland Community Federal Credit Union
  • Mahoning Valley Federal Credit Union
  • Mt. Zion Woodlawn Federal Credit Union
  • Toledo Metro Federal Credit Union
  • Toledo Urban Federal Credit Union
  • Warsaw FS & LS
• Oklahoma
  • First Security Bank & Trust Co
  • Morning Star Federal Credit Union
• Pennsylvania
  • Hill District Federal Credit Union
  • Holy Trinity Baptist Federal Credit Union
  • M.A.B.C. Federal Credit Union
  • Morning Star Baptist Federal Credit Union
  • Mount Carmel Baptist Federal Credit Union
  • New Life Federal Credit Union
  • Pinn Memorial Federal Credit Union
  • S.I. Federal Credit Union
  • Tioga-Franklin Savings Bank
  • United Bank of Philadelphia
  • Wayland Temple Baptist Federal Credit Union
  • White Rock Federal Credit Union
• South Carolina
  • Berkeley Community Federal Credit Union
  • Brookland Federal Credit Union
  • Edisto Federal Credit Union
  • Optus Bank
  • Palmetto Health Federal Credit Union
  • Pee Dee Federal Credit Union
  • Trinity Baptist Church Federal Credit Union
• Tennessee
  • Citizens Savings B&T Co.
  • Fair Break Federal Credit Union
  • Liberty Bank (branch)
  • Memphis Municipal Employees Federal Credit Union
  • Metropolitan Teachers Federal Credit Union
  • Olivet Baptist Federal Credit Union
  • TSU Federal Credit Union
• Texas
  • Unity National Bank
  • Brentwood Baptist Church Federal Credit Union
  • Covenant Savings Federal Credit Union
  • Empowerment Community Development Federal Credit Union
  • Faith Cooperative Federal Credit Union
  • Light Commerce Credit Union
  • Met Tran Federal Credit Union
  • Mount Olive Baptist Church Federal Credit Union
  • Oak Cliff Christian Federal Credit Union
  • Our Mother of Mercy Parish Houston Federal Credit Union
  • Pear Orchard Federal Credit Union
  • Pilgrim Federal Credit Union
  • Port Arthur Teachers Federal Credit Union
  • Port of Houston Warehouse Federal Credit Union
  • Redeemer Federal Credit Union
  • SP Trainmen Federal Credit Union
• Virginia
  • Brunswick County Teachers Federal Credit Union
  • Democracy Federal Credit Union
  • First Baptist Church of Vienna (VA) Federal Credit Union
  • Glamorgan Employees Federal Credit Union
  • Halifax County Community Federal Credit Union
  • High Street Baptist Church Federal Credit Union
  • Metropolitan Church Federal Credit Union
  • Mount Pleasant Baptist Church Federal Credit Union
  • Planners Federal Credit Union
  • Port of Hampton Roads ILA Federal Credit Union
  • Transportation Federal Credit Union
  • Virginia State University Federal Credit Union
• Washington, D.C.
  • Asbury Federal Credit Union
  • City First Bank, National Association
  • D.C. Fire Department Federal Credit Union
  • DC Federal Credit Union
  • Department of Labor Federal Credit Union
  • District of Columbia Teachers Federal Credit Union
  • Government Printing Office Federal Credit Union
  • Howard University Employees Federal Credit Union
  • HUD Federal Credit Union
  • Industrial Bank
  • John Wesley AME Zion Church Federal Credit Union
  • Mt. Airy Baptist Church Federal Credit Union
  • Mt. Gilead Federal Credit Union
  • Paramount Baptist Church Federal Credit Union
  • Phi Beta Sigma Federal Credit Union
  • Sargent Federal Credit Union
• West Virginia
  • West Virginia State Convention Federal Credit Union
• Wisconsin
  • Columbia Savings & Loan
  • Holy Redeemer Community Credit Union

Digital Banking Platforms

Emerging Black-owned digital platforms are using technology to offer accessible financial solutions, such as mobile banking and digital payments. These companies focus on the specific needs of Black communities and offer alternatives to traditional banking systems. Because they’re digital, these platforms offer services that aren’t limited by location.

• Greenwood
• MoCaFi Financial Services

The Importance of Black-Owned Banks

Black-owned banks play a vital role in meeting the needs of underserved Black communities by providing fair access to banking services, credit and capital. These banks help Black Americans start and grow small businesses, create local jobs and keep money circulating within Black communities, promoting economic growth and opportunity.

By offering fair access to affordable alternatives, Black-owned banks help minority groups avoid expensive, predatory options like payday loans and check-cashing services. They provide a trusted alternative to banks with a history of discriminatory practices, providing equal access to credit and financial services to all customers.

The Bottom Line

While less than 1% of all banks are Black-owned, these institutions continue to play an important role in supporting Black communities. Supporting Black-owned banks and credit unions helps create more opportunities for homeownership, business growth and wealth-building in Black communities.

When you’re choosing a bank, consider its financial products, services and fees to be sure the bank meets your needs. Look for the bank’s involvement in community development and local initiatives to select one that aligns with your values and supports community growth.