Stars Join the Banking Black Movement

There is a quiet storm taking shape in the wallets, purses, and pockets of African Americans. It is gathering strength from years of mistreatment and most recently a blatant, videotaped disrespect for Black lives at the hands of police officers. Refusals to address consistent cries for equality are manifesting in a determination by African Americans to solve the nation’s race problem by creating solutions within its own ranks.

“Unity is the key,” says Brian Joubert, a businessman and host of the online radio show, “Basement 2 the Boardroom.”

Joubert is one of thousands of African Americans reallocating assets to Black-owned banks and supporting a new credit card offered by Liberty Bank and the U.S. Black Chambers of Commerce (USBC). Both efforts are part of a campaign called “Banking Black.”

“When they talked about helping small businesses get a chance to be in the game. That’s what I loved about the credit card. It allows you to get in the game, and in the African American community, we haven’t been in the game,” states Joubert, a 20-year veteran in the tax industry.

USBC President, Ron Busby, identifies “credit as the cornerstone of American capitalism.” He and Joubert are voices in the same choir, urging African American homeowners and business owners to align themselves with Black-owned financial institutions. According to Busby, 70 percent of the loans made by Black-owned banks are to African Americans.

The relationship between economic stability and African American empowerment is a subject Busby discusses with the fervor and factual persuasion of a courtroom lawyer. “To hire each other… and help make America strong, you need credit. Fifty-six percent of all African Americans don’t have a bank account. And, regardless of their credit score, 76 percent of African Americans will be denied a loan,” he explains.

Busby partnered with Liberty Bank to launch a low-interest card marketed to African Americans. He is recruiting celebrities and other prominent names to promote the card, shooting commercials with actress Kim Fields and WNBA star Lisa Leslie. The commercials will air nationwide.

He adds, “We are saying bank with people who look like you, and more importantly, people who will invest in your community.”

The “Banking Black” initiative is generating excitement as a way to telegraph displeasure with banking practices many African Americans find discriminatory. From banks in Atlanta to Chicago to the nation’s capital, African Americans are moving their money. In just five days, Citizen’s Trust in Atlanta says 8,000 people have submitted applications to do business with the historically Black-owned bank.

Joubert lives in Atlanta, and he applauds this movement. “The things that are happening right now are bringing us closer. We are starting to unite, and we have to continue to educate small businesses. That is the lane I’m in and that is the lane the Chamber is in, and I wanted to get the card to let people know it works.”

For more information, you can visit www.libertybank.net/affinity. Use Promo code “USBC”.