155 years since Major General Gordon Granger read aloud General Order No. 3 proclaiming the freedom of all slaves in the Lone Star state, now commemorated as Juneteenth, we still labor under an economic regime that undervalues African Americans’ contributions to society despite our buying power that rivals the GDP of some nations.

Consider the facts that Black Americans:

  • spend 50% more on banking services than their white counterparts;
  • experience a $158bn gap in real estate value compared to their white counterparts;
  • expect to earn up to $1 million less than white Americans over their lifetimes; and,
  • by 2030 the average Black family will have zero net worth.

Black Americans and non-Black allies for equality know that economic freedom is a possibility and must be made available for all of us.  But what happens once the protests are over and the diverse community of activists has returned to their homes? How can we turn a broad coalition for justice into an opportunity to propel the Black agenda forward beyond social and criminal justice

  • collaborate with community organizations, local officials, and area businesses in targeted cities to address unbanked and underbanked communities of color by providing affordable banking and credit counseling services
  • increase African American homeownership by 100% in designated cities.
  • work with cities to implement a plan for developing African-American business hubs and resources that support small business spending, startup investments, and entrepreneur mentoring consortiums.

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2 Board of Governor’s of the Federal Reserve Report on the Economic Well-Being of US Households 2017

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