February is Black History Month–and it’s an important time to reflect. Did you know these facts about Black Americans and their financial history?
As an African American woman, I feel strongly about changing the facts, and quickly! Share these facts with your family, friends, and kids–and tell me what you’re doing today to change the numbers!
Black History Month 2022 Financial Facts
About 54% of Black Americans report having no credit or a poor to fair credit score, which is considered to be any score below 640.
In 2020, 18% of Black Americans had no credit score.
The number of African-American business owners in operation surged to almost 1.5 million.
On October 17, 1888, Capitol Savings Bank in Washington, D.C. became the first bank organized and operated by African Americans.
In 2019, 14% of Blacks were unbanked and 32% underbanked; forced to use cash check service.
Ready to help change the story?