In a matter of five days, a Black-owned bank in Atlanta saw an influx of 8,000 new accounts, and it was mainly thanks to a call put out by rapper Killer Mike, the bank's CEO & President, Cynthia N. Day, acknowledged.
During an interview with Hot 107.9, Thursday [July 7], Mike spoke about measures he sees as necessary for the Black community to take if it is to pressure the system to begin serving it's well-being. While fleshing out an economic agenda for investment in Black-owned businesses, he named Citizens Trust. With the minimum requirement to open up an account at Citizens Trust being $100, the recent spike in membership equates to at least $800,000, not counting the additional money totaled when considering accounts started with more than one hundred dollars.
“We have a one trillion dollar spending base and if you want to see change, you have to start to focus on, economically, how can we change our communities,” Mike told listeners. "We don’t have to burn our city down. But what we can do is go to your banks tomorrow. You can go to your bank tomorrow. And you can say, ‘Until you as a corporation start to speak on our behalf, I want all my money. And I’m taking all my money to Citizens Trust.’"
Though moved by the shootings of Alton Sterling and Philando Castile, it wasn't the first time Mike has referred to Citizen's Trust in directing his following to shift their assets out of the mainstream economy. Back in February, Mike promoted Citizen's Trust while joined by Jermaine Dupri, Usher, and Big K.R.I.T. at an event to raise awareness of Black-owned businesses. “This movement brought awareness to the importance of community banks, and the strength of community banks, inside the communities they support,” she the bank's marketing director, Diedra St. Julien.
Aside from Citizens Trust there are 20 other local Black-owned banks across the United States. They include: Alamerica Bank, Broadway Federal Bank FSB, Capital City Bank & Trust Company, Carver State Bank, City NB of New Jersey, Commonwealth National Bank, First Independence Bank, First State Bank, First Tuskeegee Bank, Highland Community Bank, Illinois Service Federal Savings & Loan, Industrial Bank, Liberty Bank & Trust Company, Mechanics & Farmers Bank, North Milwaukee State Bank, ONEUNITED BANK, Seaway Bank & Trust Company, United Bank of Philadelphia, Unity NB of Houston.
Source: nypost.com