Congrats to Gannon on being the 5th winner of the Central Bank Half-Court Shot at Rupp Arena! He hit the shot at the UK- Mississippi State game last week, which the Cats won 90-77!
Fun fact: the Cats are an undefeated 5-0 in games in which the Central Bank Half-Court Shot is made 😼
Gannon is a Freshman at UK and brought a group of his friends to celebrate with him!
We are so grateful for our partnership with the University of Kentucky, and for the opportunity to give out this money to lucky members of the #BBN!
Black-owned banks didn’t exist until more than a century after the Bank of North America first opened its doors. Prior to the chartering of the first Black-owned bank in 1888, the U.S. Congress and then-President Abraham Lincoln established Freedman’s Savings Bank in 1865. As part of the Freedman’s Bureau, this institution was designed to help newly freed African Americans navigate the U.S. financial system.
Today there are 148 minority-owned financial institutions in the United States. Taken together, they have approximately $343 billion in assets in total. Of these, 22 are Black-owned banks.
Black-owned banks provide customers not only access to the financial resources they need but also the chance to invest in the financial health and well-being of their community.
https://lnkd.in/ePgm_EZ8
The Federal Reserve Bank of Kansas City's Nicholas Sly and Bethany Greene have released a new regional CRE Index for the 10th Federal Reserve District (Colorado, Kansas, Nebraska, Oklahoma, Wyoming and parts of Missouri and New Mexico) -- The correlations they highlight between different variables is instructive. Will other districts produce a similar index? Some of these correlations are expected (ie - prices are highly correlated to transaction velocity) -- some can also be instructive and may be useful as leading indicators. Worth a read --> https://lnkd.in/eihYjfaF
Read the latest from Kentucky Banker Magazine today!
We talk with with Shane Ensminger, Director of Financial Intelligence & Security at Central Bank & Trust about how fraud is on the rise and what we can do about it.
You'll also read KBA President & CEO Ballard Cassady's thoughts on the CFPB and their ongoing assault on community banks.
All this and more in the latest issue of Kentucky Banker!
Read the latest from Kentucky Banker Magazine today!
We talk with with Shane Ensminger, Director of Financial Intelligence & Security at Central Bank & Trust about how fraud is on the rise and what we can do about it.
You'll also read KBA President & CEO Ballard Cassady's thoughts on the CFPB and their ongoing assault on community banks.
All this and more in the latest issue of Kentucky Banker!
What happens when a Federal Reserve Bank needs a new president? Watch this video to learn about the process for selecting a Federal Reserve Bank president and visit our website for details about the search for the next Philadelphia Fed president. https://bit.ly/47fd2B1
For the first time in nearly four years, the Federal Reserve has cut interest rates by half a percentage point, and the move could have a big impact on your wallet. In light of this event, Stanley Funches, CFP®, CEPA, ChFC®, CRPC®, MBA had the opportunity to connect with WBRC FOX6 News to share his insight on the topic. #INTELUSTalkshttps://hubs.li/Q02QCLwy0
The true power of a Black-owned bank is not defined by the number of deposits it takes in but by the amount of capital it lends out -- to other Black people -- and to the benefit of their families, businesses, communities, and generational wealth.
Please read NBA Chairman Robert James, II's op-ed on the State of America's Black-Owned Bank then ask yourself, "What constitutes a Black-owned bank?"
On behalf of HOPE, I am incredibly grateful to PBS for participating in their digital documentary on the racial wealth gap. Their support and commitment to highlighting systemic inequalities are invaluable in bringing this important issue to light as we continue the fight to increase financial inclusion among Black communities through affordable banking products and services.
Banking, as an industry, has exacerbated and fueled the widening of the racial wealth gap as reported in the documentary and by countless data e.g. redlining, mortgage denials, etc. Banking, however, can also drive wealth accumulation and economic mobility insomuch to reduce the racial wealth gap.
Credit Unions, particularly Minority Depository Institutions (MDIs) and Certified Development Financial Institutions (CDFIs) have demonstrated a track record in increasing access to wealth building opportunities e.g. homeownership and small business capital for Black communities. We must continue to drive public and private investments to Black communities directly as well as the financial institutions that serve them.
On a personal note, I grew up watching several educational programs on PBS -- Sesame Street, Between the Lions, Reading Rainbow, and Mister Rogers' Neighborhood. I, like many others, learned so much about the world around us, and I'd like to think those programs, inevitably, made me a more tolerant, knowledgeable, and curious adult. I can't say enough how much of a full circle moment it is to now participate in a PBS production.
I hope the next generation of PBS kids (and adults) can learn about the role banking has played in expanding the racial wealth gap AND how increasing financial inclusion to institutions and products designed for equity is a form of reparations that we must all support.
#RacialWealthGap#PBS#FinancialEquity#socialjustice
Regional Business Development Manager- Automotive Supply Chain
8moThat was awesome!