Legacy Bank
Legacy Bank The First African American Female Owned Bank is Struggling

From Legacy Bank Website: 

“When Legacy Bank received its charter from the state of Wisconsin in July of 1999 it became the nation’s first bank organized by African American women and the first in the state of Wisconsin to be formed by women. Legacy Bank was already breaking down barriers.”

Who They Serve

“Legacy Bank’s mission of serving the underserved and unbanked in Milwaukee doesn’t apply solely to individuals. The bank’s organizers were acutely aware of the city’s poor reputation in the area of small business lending at the time of its founding. Therefore, small business lending has always been done differently at Legacy Bank.

By taking the time to understand customers’ dreams and aspirations, as well as their roadmap for success, the organization’s lending officers have been able to find creative financing options for entrepreneurs and small businesses.”

https://www.legacybancorp.com/

July 1999 – The original founders raise the required capital of $5 million and meet all regulatory requirements to charter Legacy Bank. Above (L to R):

The Journal Sentinel’s Paul Gores reports

“Legacy Bank, which was founded 11 years ago with the goal of focusing on lending in Milwaukee’s central city, has lost almost $6.4 million this year after losing $15.2 million in 2009, Federal Deposit Insurance Corp. data shows.”

http://www.jsonline.com/business/110418319.html

We must be very proactive about this bank’s future as it helps inner city Milwaukeeans and our small business ventures predominantly. The help they provide and second chances given to people who would not be considered for a loan or as banking customers, is too great a price to pay for our community.  Please take time to read the article and be informed.

Peace Family

WW

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