Dedicated DB Celebrates Black History Month

14th Feb 2024

Honoring Black Pioneers of Finance

February is Black History month, and we’d like to take the opportunity to honor the early black financial industry trailblazers. Their accomplishments left an impact and put us on track to creating a more diverse and inclusive business environment. They paved the way for the financial professionals of today and beyond. We’d like to honor and acknowledge one of them with this blog post.

Maggie Lena Walker

Born in 1864 at the tail end of the Civil War to a former slave, she was the first African American woman to charter a bank, as well as the first to serve as bank president. She founded St. Luke’s Penny Saving Bank in 1903 to serve the local black community in Richmond, Virginia, who were living with segregation and discrimination. With her financial acumen the bank grew and provided opportunities for business loans and banking for African Americans otherwise unavailable to them. She led the bank and continued as chairman of the board after it merged with other local institutions and became Consolidated Bank and Trust Company which remained independently operating until the early 2010s.

Her efforts made an impact and ripple outward to this day. Her greatest legacy is creating a more equitable and inclusive business environment for people of color. We honor her contribution and work to continue forth the work of building a business community that works for everyone.

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