By TSD Newsroom
Tri-State Bank of Memphis, which is 90-plus percent African-American owned, will host a Community Bank-A-Thon each Saturday throughout the month of August to promote the importance of wealth building in the African-American community by encouraging residents to open bank accounts.
Bank-A-Thons will be held at Tri-State Bank’s three locations on Aug. 6, 13 and 20 from 10 a.m. to 5 p.m.
Amid nationwide protests and the outcry about treatment of African Americans at the hands of police, the conversation has turned to silver rights and economic empowerment. The #BankBlack challenge that has spread to several cities around the country encourages African Americans to open accounts with black-owned financial institutions.
“The buying power of African Americans is undeniable. We spend $1.2 trillion annually, yet the wealth gap continues to increase,” said Lucy Shaw, chairman of the Board for Tri-State Bank of Memphis. “Meanwhile, the black community has faced its share of predatory lending and other unsavory banking practices over the years. We want to let the community know we are here to provide affordable products and services and responsible lending that can be depended upon.”
The bank’s three locations are 180 S. Main St., 2267 Lamar Ave., and 4606 Elvis Presley Blvd.
According to the Federal Reserve Bank, Tri-State Bank of Memphis is one of only 23 African-American owned banks, credit unions or savings firms in the U.S. It has served the Mid-South for 70 years.
(For more information, contact 901-525-0384 or visit www.tristatebank.com.)