U.S. Census Bureau Daily Feature for March 2: First Black-Owned Bank
WASHINGTON, March 2, 2017 /PRNewswire-USNewswire/ — Following is the daily «Profile America» feature from the U.S. Census Bureau:
FIRST BLACK-OWNED BANK
Profile America — Thursday, March 2nd. The capital of the vanquished Confederacy was the site of the first chartered black-owned bank in the U.S. Known as the Savings Bank of the Grand Fountain, United Order of True Reformers, it founded on this date in 1888 by former slave and Union Army veteran William Washington Browne. Opened in 1889, its deposits on the first day totaled $1,269. The bank provided mortgage loans and other banking services that were difficult for African-Americans to obtain in the segregated, repressive climate after reconstruction. When the bank opened, Richmond had a population of just over 81,000 people, 32,000 of them African-American. Today, Richmond is home to some 220,000 people, just over half of them African-Americans. You can find more facts about America from the U.S. Census Bureau online at www.census.gov.
Sources: Kane’s Famous First Facts, 842
Bank story/accessed 1/6/2017: http://www.blackpast.org/?q=aah/true-reformers-bank-1888-1910
1890 Richmond/ p.483: http://www2.census.gov/prod2/decennial/documents/1890a_v1-13.pdf
Current Richmond population and demographics: http://www.census.gov/quickfacts/table/PST045215/5167000,00
Profile America is produced by the Center for New Media and Promotion of the U.S. Census Bureau. Statistics and accounts drawn from cited non-Census sources are employed for illustrative or narrative purposes, and are not attested to by the U.S. Census Bureau. These daily features are available as produced segments, ready to air, on the Internet at http://www.census.gov (look for «Audio» in the «Library» pull-down menu).
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SOURCE U.S. Census Bureau