During these tumultuous times (the year 2020), we’ve taken a break from our usual branding strategy and brand guideline articles to shine a spotlight on pillars of success in the black community. We’ve featured successful business executives and also black-owned banks. Today, we’re featuring M&F Bank.
There are heinous racially charged events happening all around that can make us feel powerless and out of control. But, even though we may not realize it, each of us has power. The power to take action steps, big or small, toward dismantling oppressive institutions. And so with each feature, it is our hope you consider doing something to move communities toward change.
A few ideas for things you can do to contribute to change
- Increase your awarenessFind reliable sources of information to stay in touch with what is happening, how it affects your community, and if there’s anything you can do. There’s a constant stream of information coming at us every day. It’s important you plug into the most reliable sources and tune out the rest. This will help you become more aware of what is happening and what you can do.
- Support movements, businesses, banks, and other institutions that are moving toward change. Throughout this series, we’ve shared countless ways for you to support organizations contributing to the dismantling of systemic racism. Become a patron of one of these organizations or help spread the word. Find a way to give support.
- Take care of yourself and seek to help those in your community who are in need. It’s easy to become overwhelmed and to feel despair. Amid everything that is going on, find ways to take care of yourself, whatever that means for you. Self-care comes in many forms but it’s vital you put your health first. Next, reach out to others in your community who may be suffering under the current tension we’re being exposed to.
Now, let’s turn to our feature for today, M&F Bank.
Vision and mission of M&F Bank
“M&F Bank is a historic independent community bank committed to meeting the needs of a wide range of individuals and businesses within our markets while providing unparalleled customer service with an above average return for our shareholders.
M&F Bank is the 2nd oldest minority-owned bank in the United States – 113 years old. According to Black Enterprise – M&F Bank is the 8th largest financial institution in the United States with nearly $264.0M in total assets (as of 12/31/2019) CDFI – Community Development Financial Institution – M&F Bank is the only bank in North Carolina to receive this designation. Outstanding CRA Rating received from the FDIC for 25 years. The majority of all deposits are recycled back in the communities we serve.”
*Personal banking (checking, Savings and CDS, HSA accounts, rewards programs, home and auto loans).
*Business banking (SBA loans, commercial checking and savings, Business credit cards)
116 W. Parrish StreetDurham, North Carolina
2634 Durham Chapel Hill BoulevardDurham, North Carolina
Durham Branch – Durham-Chapel Hill Boulevard
2705 Durham-Chapel Hill BoulevardDurham, North Carolina
Raleigh Branch – East Hargett Street
13 East Hargett StreetRaleigh, North Carolina
Raleigh Branch – Rock Quarry Road
1824 Rock Quarry RoadRaleigh, North Carolina
100 South Murrow BoulevardGreensboro, North Carolina
770 MLK JR DriveWinston-Salem, North Carolina
101 Beatties Ford RoadCharlotte, North Carolina 23232
Find out more information about locations and contact details, by clicking HERE.
Financial Empowerment Resources
M&F bank stands behind its mission to serve the needs of minority communities. To do so, they understand that individuals need access to services, but also to resources and tools. They host an online financial literacy hub, along with tools and resources people can plug into. Learning about financial management skills is one of the keys to bridging the financial gaps in the United States between the races.
Whether you choose to support M&F Bank or another institution, commit to doing what you can. This is the time for each of us to act. The Bank Black movement (#bankblack) has helped initiate an upswing of thousands of new accounts opening at black-owned banks. This is a step in the right direction. The more of us that commit to doing what we can, the more change will happen. We cannot wait passively for it to occur. The time is now.