‘Black Dollars Matter’: Bank-Ins May Be The Way to Empowerment

OneUnited Bank, which bills itself as the first black owned internet bank, says that in the wake of recent protests over police-involved deaths of black men, business has increased tenfold.

“We’ve had a surge,” Williams said.”When I say surge, I mean people lined up outside the door of our branches to open accounts.”

Her bank is not alone.

After the shootings of Alton Sterling and Philando Castile, black activists nationwide organized boycotts of major banks and retailers — including an economic boycott of a Baton Rouge mall and Walmart the weekend of Sterling’s death. Activists have called on African-Americans to patronize black-owned stores and banks using the hashtags #BankBlack challenge and #Moveyourmoney and by circulating a mass text thread .

And, in a seemingly unrelated Facebook movement, activists, called on more than 8,000 people to participate in “Day of Absence Pt. 1,” encouraging its following to restrict purchasing goods from select retailers and restaurants and essentially any businesses that are not minority-owned.

“It is high time that we stop talking about our purchasing power and show our true value in all areas of life,” the Facebook page stated.

Such efforts, black business owners say, have resulted in an uptick in business.

“As we say internally,” Williams said of her bank staff’s mantra, “black dollars matter.”

Mona, the face of #BankBlack Challenge OneUnited Bank OneUnited Bank, which bills itself as the first black owned internet bank, says that in the wake of recent protests over police-involved deaths of black men, business has increased tenfold. “We’ve had a surge,” Williams said.”When I say surge, I mean […]

GET CONNECTED
Join Black conscious consumers and learn more about Black-owned businesses in your area!
We hate spam. Your email address will not be sold or shared with anyone else. Promise.