To be considered a Black-owned bank, a financial institution must serve minority communities and be at least 51% Black-owned, according to the Urban Institute. Today, there are 40 Black-owned banks in the US. These institutions are working diligently to provide financial services to underserved communities.
Black-owned banks near me
Use this table to search for Black-owned financial institutions in your state. Then, use the tabs to sort and compare your options by branches and ATMs.
Online-only, but serves: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming
Online-only. Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.
Kinston, North Carolina People who live, work, worship, or attend functions in the Lenoir, Greene, Jones, Craven, and Pitt counties are eligible for membership.
Online-only, but serves: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.
Located in the heart of Birmingham, Alamerica Bank was started in 2000 by a group of community leaders. The current CEO is Jason Eppenger, who used to be the market president at Citizens Trust Bank.
Branch locations: Birmingham, Alabama ATMs: N/A Branches: 1 Number of products: 14
Commonwealth National Bank
Commonwealth National Bank is a full-service institution founded in 1976. It’s the only Minority Depository Institution (MDI) in Mobile, and only one of two MDIs in all of Alabama.
Branch locations: Alabama ATMs: Can use any Commonwealth branch ATM, Publix Super Market ATM or any PNC Bank ATM nationwide Branches: 2 Number of products: 13
Metro Bank
Metro Bank opened its doors in 1989 and now has nine branch locations with over 175 employees. It’s consistently ranked as one of the top performing banks in Alabama.
Branch locations: Alabama ATMs: 10 Branches:9 Number of products: 13
Formerly Broadway Federal Bank, it started as a full-service institution offering a variety of products for individuals, businesses and non-profit organizations. It recently merged with City First Bank, which made City First the largest Black-owned bank in the country.
Branch locations: Los Angeles, CA ATMs: 20,000 MoneyPass ATMs and three Broadway Federal Bank ATMs Branches: 3 Number of products: 11
Colorado
There aren’t any Black-owned banks headquartered in Colorado, but these banks serve this area:
FAMU Federal Credit Union was created in 1935 after six individuals used $50 of their personal funds to secure a federal credit union charter. The credit union used to be located on the Florida A&M campus, hence its name. Now it’s located just outside of the FAMU campus.
Branch locations: Tallahassee, Florida ATMs: 1 Branches: 1 Number of products: 8
Georgia
1st Choice Credit Union
1st Choice Credit Union was started in 1946 to serve Grady Hospital employees. It was originally named Hospital Authority Credit Union, but switched to its current name in 1991. It states it celebrates the diversity of its workforce and memberbase, and works to be actively engaged in making the communities they serve better. This credit union is 7,000+ members strong and is headquartered on Atlanta’s historic Auburn Avenue.
Branch locations: Atlanta, Georgia ATMs: Three bank-owned ATMs, plus 32,000 Pulse or 2 million CIRRUS ATMs Branches: 2 Number of products: 10
Carver State Bank
Located in the heart of Savannah, Georgia, Carver State Bank was established in 1927. It’s one of the largest Black-owned banks in the US. It started out as a private bank that served its founder, Louis B. Toomer and his friends, and became a full-service commercial bank when Lawrence D. Perry took over as president in 1961.
Branch locations: Savannah, Georgia ATMs: 3 Branches: 2 Number of products: 12
Citizens Trust Bank
Citizens Trust Bank was established in 1921 to serve African Americans in Atlanta, Georgia. Today, it has a strong focus on investing money back into the community through sponsorship support.
Branch locations: Alabama; Georgia ATMs: 7 Branches: 7 Number of products: 18
Credit Union of Atlanta
Credit Union of Atlanta was founded in 1928 and remained financially strong throughout the Great Depression. It’s a Community Development Financial Institution (CDFI), which means it offers easily accessible financial products to critical communities in need of economic growth.
Branch locations: Atlanta, Georgia ATMs: Four bank owned, plus any ATMs in the MoneyPass and STAR networks Branches:2 Number of products: 9
Greenwood
Headquartered in Atlanta, Georgia, Greenwood is a digital bank for Black and Latinx communities. From giving grants to small business owners and providing meals to families in need to donating to the UNCF, Goodr and NAAP, Greenwood works to give back to the community.
Branch locations: Digital bank headquartered in Atlanta, Georgia. Serves all states. ATMs: Global ATM network. Branches: 1 Number of products: 0
Omega Psi Phi Fraternity Federal Credit Union
Omega Psi Phi Fraternity Federal Credit Union opened its doors in 1986. It manages $2.18 million in assets and primarily serves Omega Psi Phi Fraternity members and their families, and offers loans, chapter checking, credit cards, money market accounts and more.
Branch locations: Toccoa, Georgia ATMs: N/A Branches: 1 Number of products: 2
Hawaii
There aren’t any Black-owned banks headquartered in Hawaii, but these banks serve this area:
South Side Community Federal Credit Union has been offering up financial education, credit and savings services to its members since 2004. Membership is open to anyone who lives, works, worships, attends school or belongs to an organization on the South Side of Chicago.
Branch locations: Chicago, Illinois ATMs: N/A Branches: 1 Number of products: 11
Indiana
There aren’t any Black-owned banks headquartered in Indiana, but these banks serve this area:
In terms of branch locations, Liberty Bank has the second-largest footprint of any Black-owned bank with 15 branches spread throughout eight states and serving for over 200 years. It’s committed to providing financial mentorship to minority communities, so more families can buy homes and more individuals can start businesses.
Branch locations: Alabama, Illinois, Kansas, Kentucky, Louisiana, Mississippi, Michigan, Missouri ATMs: 28 Branches:15 Number of products: 14
Southern Teachers & Parents Federal Credit Union
Southern Teachers & Parents Federal Credit Union has been offering personalized service to its members for over 80 years. It primarily serves Southern University alumni, employees, parents and students; employees of Assumption, East Baton Rouge, Lafourche, West Feliciana Parishes; church members in Baton Rouge, Terrebonne and Lafourche Parishes and employees of the City of Thibodaux and Lafourche Parish Juvenile Justice Facility.
Branch locations: Baton Rouge, Louisiana; Thibodaux, Louisiana ATMs: Two bank-owned ATMs, plus any ATM in the CU Alliance network Branches:2 Number of products: 3
Maine
There aren’t any Black-owned banks headquartered in Maine, but these banks serve this area:
The Harbor Bank of Maryland primarily serves the Baltimore metropolitan area. Its doors opened in 1982 where it served as the first community bank in the US to have an investment subsidiary. It was also the first bank in Maryland to receive Fannie Mae funding under the Community Development Financial Institution (CDFI) Program.
Branch locations: Baltimore, MD area ATMs: 55,000 Allpoint ATMs Branches: 7 Number of products: 16
Massachusetts
OneUnited Bank
OneUnited Bank was the first online-only Black-owned bank established in the US. It puts a strong focus on financial education and helping low-to-moderate income communities secure funding and resources needed to achieve economic growth.
Branch locations: Los Angeles, California; Boston, Massachusetts; Miami, Florida ATMs: 30,000+ MoneyPass ATMs Branches:5 Number of products: 4
Michigan
First Independence Bank
First Independence Bank has been serving the Detroit metropolitan area since 1970. The goal was to create a positive representation of economic opportunity in Detroit, after the 1967 riots in the city. First Independence Bank is still the only African American-owned bank headquartered in Michigan, and is the 8th largest African-American bank in the US.
Branch locations: Detroit, MI ATMs: Any FIB, Fifth Third, TCF or Chemical Bank ATM with 147 in the Metro Detroit area Branches:3 Number of products: 20
Minnesota
There aren’t any Black-owned banks headquartered in Minnesota, but these banks serve this area:
Hope Credit Union was organized by members of Anderson United Methodist Church in 1995. Its mission is to be a beacon for capital accumulation for individuals and businesses in minority communities. Netflix gave this institution $10 million in 2020 as part of its initiative to build economic opportunities in Black communities.
Branch locations: Alabama, Arkansas, Louisiana, Mississippi, and Tennessee ATMs: 23 ATMs Branches:28 Number of products: 9
Missouri
Kinly
Based in Kansas City, Kinly is an online-only banking account committed to closing the racial wealth gap in America and empowering its customers with confidence to take control of their finances. It offers audio-based financial literacy lessons, early access to direct deposits and cash back at participating Black-owned businesses. It was acquired by Greenwood in 2023.
Branch locations: Online only. Serves all states. ATMs: 37,000+ MoneyPass ATMs across the US Branches: None Number of products: 1
St. Louis Community Credit Union
Charted in 1942, St. Louis Community Credit Union is more than a financial institution. It’s also a for-profit cooperative, a Community Development Financial Institution (CDFI) and a Low-Income Designated credit union. It offers several programs to support its local community.
Branch locations: Missouri ATMs: 30,000+ CO-OP ATMs Branches:17 Number of products: 11
Montana
There aren’t any Black-owned banks headquartered in Montana, but these banks serve this area:
Carver Federal Savings Bank was established in 1948 to support African American communities who were cut off from mainstream financial services. Even today, most of its branches are in low-income communities and it’s one of the largest African-American operated banks in the US.
Branch locations: New York ATMs: 55,000 Allpoint ATMs Branches:7 Number of products: 11
Goalsetter
The Goalsetter is a card and bank account designed to help kids set financial goals, save money and spend wisely. The Black- and female-owned company began with a focus on helping Black and Latinx children manage their finances, though the card is available to kids and adults across the US. Currently, Goalsetter is updating its offerings and you can’t send a GoalCard as of January 2024.
Branch locations: Digital bank headquartered in New York ATMs: None Branches: 1 Number of products: 1
MoCaFi
With headquarters in New York, MoCaFi aims to serve the unbanked and underbanked communities who may not have a banking history through banking services, emergency funds and credit-building. It began in 2015 as a way to bridge racial gaps in wealth, and its mission statement states it believes that high-quality, low-cost financial services can close opportunity gaps.
Branch locations: Digital bank headquartered in New York; Office in New Jersey ATMs: 55,000 Allpoint ATMs and 12,000 Wells Fargo ATMs Branches: 2 Number of products: 2
Urban Upbound Federal Credit Union
Urban Upbound Federal Credit Union is on a mission to break the cycles of poverty in New York City’s low-income neighborhoods. It offers five integrated programs to its members: employment services, financial counseling, income support services, community revitalization and financial inclusion services.
Branch locations: Long Island City, New York ATMs: N/A Branches: 1 Number of products: 5
North Carolina
Greater Kinston Credit Union
Founded in 1952, Greater Kinston Credit Union is a full-service institution offering a range of personal and business accounts. It primarily services people who live, work, worship or attend school in Lenoir, Greene, Jones, Craven and Pitt counties, with a focus on assisting unserved communities.
Branch locations: Kinston, North Carolina ATMs: 1,100+ CashPoints ATMs Branches:1 Number of products: 11
Mechanics & Farmers Bank
M&F Bank is the second-oldest minority owned bank in the US. It’s also the only bank in North Carolina to have the Community Development Financial Institution (CDFI) designation. It manages nearly $264 million in assets and serves the five largest urban markets in North Carolina.
Branch locations: North Carolina areas: Winston-Salem, Durham, Raleigh, Greensboro and Charlotte ATMs: Nationwide ATM networks Branches: Number of products: 19
North Dakota
There aren’t any Black-owned banks headquartered in North Dakota, but these banks serve this area:
Faith Community United Credit Union was originally established as Mount Sinai Baptist Church Credit Union in 1952. It began to focus on community development in 1989 when it became the sole provider of savings and loans products in minority neighborhoods in Cuyahoga County, Ohio.
Branch locations: Cleveland, Ohio ATMs: 4,955 Alliance One ATMs Branches:1 Number of products: 5
Toledo Urban Federal Credit Union
Toledo Urban Federal Credit Union opened its doors in 1996 as the first community development credit union in Toledo, Ohio. It was recognized as one of the fastest growing financial institutions of its time with assets topping $6 million.
Branch locations: Toledo, Ohio ATMs: 2 Branches:2 Number of products: 5
Oklahoma
There aren’t any Black-owned banks headquartered in Oklahoma, but these banks serve this area:
Established in 1970, Hill District Federal Credit Union offers financial services and literacy classes to those who live or work in the Hills District of Pittsburgh. It’s the only African American owned and operated financial institution in the tri-state area, and anyone can join when they become a member of the Hill District Business Association.
Branch locations: Pittsburgh, PA ATMs: N/A Branches:1 Number of products: 3
United Bank of Philadelphia
United Bank of Philadelphia opened its doors in 1992. It offers personalized services to businesses and individuals in the Greater Philadelphia region, specifically Black, Hispanic, Asian and women. Its goal is to foster community development and economic growth in underserved neighborhoods.
Branch locations: Philadelphia, PA ATMs: 9 Branches:2 Number of products: 23
Rhode Island
There aren’t any Black-owned banks headquartered in Rhode Island, but these banks serve this area:
Founded in 1999, Brookland Federal Credit Union is a non-profit financial cooperative in West Columbia, South Carolina. It provides financial services to Brookland Baptist Church members and their families, and serves over 1,400 members with assets over $3 million.
Branch locations: West Columbia, South Carolina ATMs: N/A Branches:1 Number of products: 5
Community Owned Federal Credit Union
Community Owned Federal Credit Union was founded by a small group in 1966 who wanted to provide broader financial access to low-income residents of Johns Island and the Charleston community. It is one of only two designated low-income credit unions in South Carolina.
Branch locations: Johns Island, South Carolina and Charleston, South Carolina ATMs: N/A Branches:1 Number of products: 2
Optus Bank
Optus Bank’s origins go back to 1921 when a group of African American leaders founded Victory Savings Bank to give all people a fighting chance at the American Dream. Today, the bank is committed to helping all people build wealth, regardless of their background.
Branch locations: South Carolina ATMs: 3 Branches:1 Number of products: 11
South Dakota
There aren’t any Black-owned banks headquartered in South Dakota, but these banks serve this area:
Founded in 1904, Citizens Savings Bank & Trust was the first minority-owned bank in Tennessee. Today, it operates as the oldest continuously operated Black-owned bank in the US. It provides a variety of financial services to individuals and businesses.
Branch locations: Tennessee, Kentucky, Texas and Alabama ATMs: N/A Branches:3 Number of products: 12
Texas
Faith Cooperative Credit Union
Faith Cooperative Credit Union was founded as St. John Federal Credit Union in 1959. Its name changed after it united with Friendship-West Baptist Church to form a micro-loan institution.
Branch locations: Dallas, Texas ATMs: 1 Branches:1 Number of products: 3
Mount Olive Baptist Church Federal Credit Union
Mount Olive Baptist Church Federal Credit Union primarily serves Mount Olive Baptist Church members and their families in Dallas, Texas. It was chartered in 1997 and operates as a faith-based non-profit institution.
Branch locations: Dallas, Texas ATMs: N/A Branches:1 Number of products: 2
Oak Cliff Christian Federal Credit Union
Oak Cliff Christian Federal Credit Union (OCCFCU) is a christian-based organization founded in 2008. Anyone who’s a member of Oak Cliff Bible Fellowship (OCBF) and its subsidiaries can apply for membership.
Branch locations: Dallas, Texas ATMs: N/A Branches:1 Number of products: 6
Unity National Bank
Unity National Bank was founded in 1963 and charted in 1985. Its primary focus is in providing lending services to underserved communities in Texas and Georgia, but it also has a variety of personal and business bank accounts. It financially supports the YMCA, YWCA, NAACP, United Negro College Fund, Boy Scouts of America and other organizations.
Branch locations: Texas and Georgia ATMs: 500+ ATMs in the Select ATM network Branches:3 Number of products: 15
Utah
There aren’t any Black-owned banks headquartered in Utah, but these banks serve this area:
This institution got its start as the Virginia State College Federal Credit Union in 1938. It has since expanded over the years, and was granted permission to change its name to Virginia State University Federal Credit Union in 1979.
Branch locations: South Chesterfield, VA ATMs: 1 Branches:1 Number of products: 5
Washington
There aren’t any Black-owned banks headquartered in Washington, but these banks serve this area:
City First Bank is the nation’s largest Black-owned institution with assets breaking $1 billion, thanks to mergers with banks like Broadway Federal Bank. It’s focused on serving underserved neighborhoods in California and Washington, D.C.
Branch locations: Los Angeles, California, Washington, D.C. ATMs: 1 City First Bank ATM and +55,000 ATMs in the Allpoint and STARs networks Branches:1 Number of products: 16
Howard University Employees Federal Credit Union
This credit union received its charter in 1925. It provides a variety of financial services to Howard University employees and their families, and offers products like loans, certificates of deposit, checking, savings and many more.
Branch locations: Washington, D.C. ATMs: 30,000+ CO-OP ATMs Branches:1 Number of products: 8
Industrial Bank
Founded in 1934 after the Great Depression and with a vision to serve their community, Industrial Bank has become one of the largest Black-owned banks in the US. It services businesses, homeowners and individuals in the Washington, D.C. community.
Branch locations: District of Columbia, Maryland, Newark, New Jersey and one in Harlem, New York City ATMs: 55,000+ Allpoint ATMs + 15 Industrial Bank ATMs Branches:10 Number of products: 14
West Virginia
There aren’t any Black-owned banks headquartered in West Virginia, but these banks serve this area:
Columbia Savings and Loan Association has been serving Milwaukee residents since 1924 — especially the inner city’s growing minority population. It primarily offers mortgages and church loans, but it has one CD option for those who want to save.
Branch locations: Milwaukee, Wisconsin ATMs: N/A Branches:1 Number of products: 1
Wyoming
There aren’t any Black-owned banks headquartered in Wyoming, but these banks serve this area:
The number of Black-owned institutions in the US has dwindled over the years as regulatory and operating costs make it difficult to stay in business.
Today, there are 40 Black-owned financial institutions in the US. These banks manage a combined total of $5 billion in assets — a drop in the bucket compared to other institutions. For example, Chase controls almost $2.7 trillion in assets, with Bank of America trailing behind at $2 trillion.
Now more than ever, Black-owned banks need our support to combat the wealth disparity gap and systemic racism that exists in the US. As of 2016, the average Black family holds $17,600 in wealth compared to $171,000 for a white family.
Black-owned banks work to minimize this gap by giving minority communities the financial services, funding and education they need to acquire assets and build wealth. Without these institutions, low-to-moderate income communities are forced to rely on payday lenders for financing, which keeps them trapped in a cycle of debt.
How to switch banks
Ready to make a difference by supporting a Black-owned bank? To make the switch:
Decide which type of account you’re looking for. There are several different types of bank accounts. If you need an account you can use every day, go with a checking account. If you’re a business needing to store excess capital, you may need a business savings account or CD.
Choose the right bank or credit union. Use our list of 40 financial institutions or compare it to top banks and credit unions to find the type of account you’re looking for.
Look on its website to learn how to apply. Look on the bank’s website to see if you can open it online or if you’ll need to visit a branch instead.
Gather the documents needed to open your account. Once you’ve decided how you’ll open the account, gather all your documents. You’ll typically need your basic personal information, including your Social Security number and government-issued photo ID.
Fill out an application. Follow the steps online or in person to apply for the account and verify your identity. Start using your account. Make your first deposit and set up bill pay and direct deposit.
Bottom line
Now is the time to support Black-owned institutions so they can continue fighting systemic racism and working to close the wealth gap that exists in the US. Once you find a Black-owned bank or credit union you want to support, follow these steps to open an account with them. And while you’re at it, check out our guide for ways to invest in social justice and long-term sustainability by rethinking where your money goes.
Frequently asked questions
Yes. One popular Black-owned prepaid card is Mocafi.
OneUnited is currently the largest Black-owned bank in the United States. It manages more than $650 million in assets. But it will lose this ranking when Broadway Federal Bank in Los Angeles merges with City First Bank in Washington, D.C. later this year. Once merged, City First Bank will manage more than $1 billion in assets.
Cassidy Horton is a freelance personal finance copywriter and past contributing writer for Finder. Her writing and banking expertise have been featured in Forbes Advisor, Money, The Balance, Money Under 30, Insure.com, and other top digital publishers. She holds a BS in public relations and an MBA from Georgia Southern University.
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