In a bid to stand by each other at a time when racial segmentation is being heightened, Killer Mike is launching a new banking platform that focuses on the Black and Latino communities. On Friday, the Atlanta native announced his partnership with the city’s former mayor Andrew J. Young and Bounce TV network founder Ryan Glover to create and launch their Greenwood banking service.
“Today, a dollar circulates for 20 days in the white community but only six hours in the Black community. Moreover, a Black person is twice as likely as a white person to be denied a mortgage. This lack of fairness in the financial system is why we created Greenwood,” Killer Mike said via press release, according to Complex.
“It’s no secret that traditional banks have failed the Black and Latinx community. 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. This is our time to take back control of our lives and our financial future,” Glover added.
The bank is named after the Greenwood neighborhood in Tulsa, Oklahoma, which was burned down by white racist during the Tulsa Massacre in 1921. For every new customer that joins the bank, Greenwood is donating five free meals to a family in need. The online banking platform will offer savings and spendings accounts; is compatible with Apple, Samsung, and Android pay features; has mobile check deposits; peer-to-peer transfer capabilities; virtual debit cards; and free ATM usage in over 30,0000 locations, the site adds.
It’s also worth noting, there are no overdraft fees. “You made it. You keep it. You prosper,” the website reads.
