Killer Mike, Andrew Young, And Ryan Glover Launch A Digital Bank

This week, rapper Michael “Killer Mike” Render, civil rights advocate Andrew Young, and entrepreneur Ryan Glover have launched a new Black-owned digital bank called Greenwood Bank.

About Greenwood Bank

Greenwood, pays homage to the thriving Tulsa, Oklahoma, business community known as “Black Wall Street” that was destroyed by white rioters in 1921. The digital bank has several features designed to promote social causes and organizations for the Black and Latinx community.

First digital banking platform for Black and Latinx

The trio unveiled the Greenwood Bank to consumers after securing $3 million in seed funding. The bank will be the first digital banking platform for Black and Latinx business owners and consumers

“It’s no secret that traditional banks have failed the Black and Latinx community,” Ryan Glover told Black Business.

“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,” Glover continued.

“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.”

Greenwood Bank and the political climate

Young said the new bank is necessary especially in light of the current political climate to help advance the community and see it prosper.

“The work that we did in the civil rights movement wasn’t just about being able to sit at the counter. It was also about being able to own the restaurant,” Young, the civil rights leader and former Atlanta mayor, told Black Business.

“We have the skills, talent, and energy to compete anywhere in the world, but to grow the economy, it has to be based on the spirit of the universe and not the greed of the universe,” he said.

“Killer Mike”, Ryan, and I are launching Greenwood to continue this work of empowering black and brown people to have economic opportunity.”

Donations

For every sign-up to the bank, Greenwood will donate the equivalent of five free meals to an organization addressing food insecurity. And every time a customer uses a Greenwood debit card, the bank will make a donation to either the United Negro College Fund, Goodr, or the National Association for the Advancement of Colored People.

Additionally, each month the bank will provide a $10,000 grant to a Black or Latinx small business owner that uses the company’s financial services.