Killer Mike Launches A Digital Bank For The Black And Latinx Community, Receives ‘Tens Of Thousands’ Of Account Requests In Less Than 24 Hours
Michael “Killer Mike” Render, former Atlanta Mayor, Andrew Young and Bounce TV founder, Ryan Glover have come together to launch a new digital bank, Greenwood, which is is primarily for the black and latinx community. Greenwood is a digital bank whose financial services (including checking and savings accounts, mobile deposits and peer-to-peer transfers) are fulfilled almost entirely online. The bank also offers Apple and Android pay services as well as two-day advances on paychecks for customers who sign up for direct deposit. Killer Mike took to Twitter on Thursday (Oct.8) to share the good news. He wrote:
“All are welcome to bank #Greenwood! It’s for the culture!!!!! Love and Respect! GM Y’all!”
In a recent press release, Killer Mike explains the importance of launching Greenwood. He explained,
“Today, a dollar circulates for 20 days in the white community but only six hours in the Black community. Moreover, a black person is twice as likely as a white person to be denied a mortgage. This lack of fairness in the financial system is why we created Greenwood.”
Ryan Glover added:
“It’s no secret that traditional banks have failed the Black and Latinx community. 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.”
“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.”
While the bank doesn’t open until January 2021, the company launched it’s website on Thursday (Oct.8) and is already receiving a positive response. According to Ryan Glover, Greenwood has already received ‘tens of thousands’ of account requests. Glover said,
“I will say we’re in the tens of thousands –That number is increasing by the day.”
On Thursday (Oct. 8), Killer Mike took to Instagram to promote the new bank. He is seen alongside Ryan Glover and Andrew Young.
What are your thoughts on Greenwood ? Let us know in the comments.