Texas’ Only Black-owned Bank Just Opened a Branch in Atlanta
Style Magazine Newswire | 4/6/2018, 2:13 p.m.
Houston's Unity National Bank is opening their first branch in Atlanta and the expansion was made possible in part by black economic activism, according to the Houston Chronicle. Black-owned banks were hit hard during the recession, and many had to close. Unity National Bank was able to survive in part because Houston's housing market didn't see the sorts of activity the market in other cities saw. Because of its luck, Unity is now the only black-owned bank in Houston, Texas. According to the Federal Deposit Insurance Corp, it was the top performing black-owned bank between 2015-2017. It is believed that there are fewer than 30 black-owned banks across the country. Although Unity was surviving, it wasn't thriving. Not until 2016, when after the deaths of Alton Sterling, Philando Castile, and other black unarmed men, the #BankBlack movement was birthed.