October 17
On October 17, 1888, Capital Savings Bank was founded in 1888.
Capital Savings Bank was the first bank organized and operated by African Americans. Capital Savings Bank grew in popularity among the Black community because it was one of the only banks that offered loans and capital to Black people.
Capital Savings Bank closed in 1902. Despite it closing, Capital Savings Bank became the blueprint for other Black-owned banks.
Sources
Middleton, B. (n.d.). This Day in black history: Oct. 17, 1888. BET. https://www.bet.com/article/j0l4i6/this-day-in-black-history-oct-17-1888#:~:text=Capital%20Savings%20Bank%2C%20the%20first,17%2C%201888.&text=7%3A00%20AM-,On%20Oct.,was%20founded%20in%20Washington%2C%20D.C.
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