Today In Black History: October 17, 1888 Capital Saving Banks Opens
On Oct. 17, 1888, Capital Savings Bank, the first bank organized and operated by African-Americans, was founded in Washington, D.C. Capital Savings BankCapital Savings helped stimulate Black entrepreneurship by offering loans to Black-owned businesses and landowners when white-owned banks would not. Confidence in the bank continued to grow, and, by 1892, deposits were estimated at $300,000.
Although Capital Savings Bank closed its doors in 1902, it became a model for other Black-owned banks across the country. Between 1888 and 1934, 134 Black banks were established, and from 1867 through 1917, the number of Black businesses increased from 4,000 to 50,000, the Board of Governors of the Federal Reserve System reports.
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March arrives with a soft sense of completion. You may feel it subtly, a quiet awareness that something has come full circle. The lessons, the stretching, the growth have shaped you more than you realized. There is integration here. A settling.
The guidance now is gentle but steady. Move slowly. Stay consistent. Trust the small, disciplined steps. You do not need dramatic leaps. What you are building from this grounded place has depth. And depth lasts.