Killer Mike’s new Black-owned digital bank has already garnered “tens of thousands” of account requests in its first day of accepting applications.
Mike partnered with former Atlanta mayor Andrew Young and Bounce TV founder Ryan Glover to create the Greenwood bank, which is named after a neighborhood in Tulsa, Oklahoma — formerly known as the Black Wall Street. The website for the bank was launched on Thursday (Oct. 8) and there is already a waiting list for those who want to open an account with the bank.
“I will say we’re in the tens of thousands,” Glover told CNN Business on Friday (Oct. 9). “That number is increasing by the day.”
Last week, REVOLT reported that Greenwood wanted to attract Black and Latinx individuals and businesses. New customers will receive online courses about basic finances, a black metal debit card and low fees to open up an account. A monthly $10,000 grant will go to a Black or Latinx small business owner who uses their services.
“We needed to create a new financial platform that understands our history and our needs going forward, a banking platform built by us and for us, a platform that helps us build a stronger future for our communities,” Glover said. “This is our time to take back control of our lives and our financial future. That is why we launched Greenwood, modern banking for the culture.”
Mike and his partners hope that Greenwood will help increase entrepreneurship in Black and brown communities.
“The work that we did in the civil rights movement wasn’t just about being able to sit at the counter. It was also about being able to own the restaurant,” said Young. “We have the skills, talent and energy to compete anywhere in the world, but to grow the economy, it has to be based on the spirit of the universe and not the greed of the universe. Killer Mike, Ryan and I are launching Greenwood to continue this work of empowering Black and brown people to have economic opportunity.”