The fourth of July is normally just another reason to BBQ, light some fireworks and gather with family, but this year of 2020, the holiday is hitting way different. The Uprising can not be ignored and celebrating a day in history when Black people were still in chains holds no value for us. Frankly, the the day should be renamed ‘Colonial Independence Day.’
Redirecting the narrative of the vial historic day is the only way to preserve our Black joy! From Juneteenth to July 7th, there is an economic shift happening. The movement is to buy from Black owned business exclusively and to bank Black.
The latter seems like more of a commitment until you realize that you dont have to move all of your assets to support a Black bank. Start small and move your Black dollars at your own pace. Let’s face it, if youre going to get a crappy interest rate on your savings account, then it might as well be with an institution that will support your people.
Banks like JPMorganChase and Bank of America are predators. When you learn that Non-Black owned banks are so committed to predatory lending that they keep a fiscal budget to pay out the law suits, you begin to question where you are investing your dollars.
Instead of being salty this July 4th, let’s redirect the narrative to celebrating the beginnings of our economic freedom. Share the following words with your network:
“We’ve got $1.3T of Black Spending Power. It’s time to flex.
🇺🇸 This 4th of July, let’s redirect the narrative toward the beginnings of economic freedom.
I pledge to #bankBlack because:
•Less than 1% of loans, from non-Black owned banks, are lent to Black people.
•Our largest Black owned bank holds assets of $670M; while predatory institutions holds over $2T in assets.
•Over two-thirds of loans received by Black people are from Black owned banks.
•Many Black owned banks are CDFIs, or Community Development Financial Institutions.
•The Spending Power of Black people in the U.S. is over $1.3T as of 2018.
Today, I’m celebrating my people taking the steps to close the wealth gap by investing in a Black owned bank.
Together this is a celebration, but l say, let’s make it an economic RIOT!
ITS YOUR TURN! 🤗
TAG YOUR FRIENDS! 🏷
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Together, we can fund our American Dream.
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NOW, I CHALLENGE: ___”
We must move now while we are all energized. This fight is a marathon and some will stop to rest at different intervals. Right now, the energy is high and everyone is running in the same direction. We must inspire others to join.