Atlanta, Georgia – There’s no doubt that the financial industry has long neglected to deliver quality products and services targeting America’s Black and Latinx communities. That’s where Greenwood Financial wants to come in and fill that gap to both communities.
Recently securing $3 million from investors to start the first digital banking platform for Black and Latinx people and business owners.
Founded by Atlanta’s very own: Michael “Killer Mike” Render, Ambassador Andrew Young, and former Turner Broadcasting executive and Bounce TV founder, Ryan Glover.
“It’s no secret that traditional banks have failed the Black and Latinx community,” said Ryan Glover. “We needed to create a new financial platform that understands our history and our needs going forward, a banking platform built by us and for us, a platform that helps us build a stronger future for our communities. This is our time to take back control of our lives and our financial future. That is why we launched Greenwood, modern banking for the culture.”
Named after the thriving Black Wall Street community in Tulsa, Oklahoma. The Greenwood District was burned down by a White mob in 1921. In today’s economy, the dollar doesn’t stay within the Black community as long as compared to their counterparts. “Today, a dollar circulates for 20 days in the white community but only six hours in the Black community,” said Michael ‘Killer Mike’ Render. “Moreover, a Black person is twice as likely as a white person to be denied a mortgage. This lack of fairness in the financial system is why we created Greenwood.”
Greenwood has three key avenues to support Black and Latinx causes and businesses:
- For every customer sign-up, Greenwood will provide five free meals to a family in need.
- Every swipe of a Greenwood debit card will prompt a donation to UNCF for education, Goodr to feed the hungry, or NAACP to support civil rights.
- And every month, Greenwood will provide a $10,000 grant to a Black or Latinx small business owner that is a Greenwood customer.
To learn more about Greenwood Financial and sign up for an account, visit www.bankgreenwood.com.