Who is tracking this new "Bank-Black" movement where blacks are being encouraged to transfer to blacks-owned banks?

SGT Private RallyPoint Member — Mon, 18 Jul 2016 22:44:53 -0400

Response by PO1 William "Chip" Nagel made Jul 18 at 2016 10:50 PM

PO1 William "Chip" Nagel — Mon, 18 Jul 2016 22:50:15 -0400

First I've Heard but I'm sure Mazuma will love the Business they have a pretty good chunk of Federal Employees here in Kansas City.

Response by Cpl Private RallyPoint Member made Jul 18 at 2016 11:17 PM

Cpl Private RallyPoint Member — Mon, 18 Jul 2016 23:17:38 -0400

Honestly it sounds like self segregation. I understand the purpose, but would encourage people to shop for the bank that treats them right while giving them a healthy return on investment.

Response by SSG Trust Palmer made Jul 18 at 2016 11:34 PM

SSG Trust Palmer — Mon, 18 Jul 2016 23:34:06 -0400

We are aware. I don't believe that it's asking you to transfer all of your funds, but at least $100 as a start to support black owned businesses. That my understanding of it.

Response by SPC Kirk Gilles made Jul 19 at 2016 1:26 AM

SPC Kirk Gilles — Tue, 19 Jul 2016 01:26:46 -0400

Do the research. If it's solvent and fits your financial goals do what you need to do.

Response by Cpl Justin Goolsby made Jul 19 at 2016 9:43 AM

Cpl Justin Goolsby — Tue, 19 Jul 2016 09:43:42 -0400

You know what I look for in a bank... that my money is FDIC insured. It doesn't even make sense to walk into a bank and be like "I demand to see the owner. Oh I'm sorry, we don't share a skin color, so I'm taking my money elsewhere". Seriously, I don't care if my bank is run by the Italian mob, the Japanese Yakuza or a white boy with a gambling problem. All I want is my money to be insured so that if something happens, I can get my money back.

Response by CPO Private RallyPoint Member made Jul 19 at 2016 10:46 AM

CPO Private RallyPoint Member — Tue, 19 Jul 2016 10:46:09 -0400

More self styled segregation. We had a Civil war to end slavery, then almost a second one to end segregation. Now I keep hearing about the "Black" community wanting to re-segregate? What was the point of the last 70 years? What was the point of all the progress we made... well up till the last 7.5 years.

Response by LTC Paul Labrador made Jul 19 at 2016 11:04 AM

LTC Paul Labrador — Tue, 19 Jul 2016 11:04:57 -0400

It's your money. Do with it what you want.

Response by Col Joseph Lenertz made Jul 19 at 2016 12:21 PM

Col Joseph Lenertz — Tue, 19 Jul 2016 12:21:39 -0400

So, why wouldn't you want to bank with the best rates and lowest fees? Why do your banking based on skin color of an owner you don't even know? Everyone should do what they want of course, but it just seems to be anti-free market. Probably why I never join boycotts.

Response by SGT Dave Tracy made Aug 8 at 2016 10:58 AM

SGT Dave Tracy — Mon, 08 Aug 2016 10:58:33 -0400

Not my money. Not my business.

Response by MCPO Roger Collins made Aug 8 at 2016 11:03 AM

MCPO Roger Collins — Mon, 08 Aug 2016 11:03:17 -0400

If that is your reasoning for choosing a bank or investment, keep up on what the benefits are for retirement with or without social Security. You will need it. I can understand it from the bank advertisements, but certainly not from an economic perspective. This sounds like a good way to lose white customers away. Color doesn't come into my equation when it comes to banking and investments, only returns.