Women’s History Month – Women in Banking

In 1903, Maggie Lee Walker made history by becoming the first Black woman to establish a bank. Richmond, VA was the place, and her vision was to provide economic opportunity to women and the city’s emerging Black middle class. She also served as the bank’s president. Her hard work and leadership helped break down barriers for others to follow. In 2020, Walker was one of eight women featured in “The Only One in the Room” display at the Smithsonian National Museum of American History.

We honor the women of history that have traversed the rough roads of success. Just as important, especially during Women’s History Month, is to acknowledge that the effort continues.

Today’s women in banking are helping drive the financial future everywhere. They are decision-makers for companies, communities, and families who are leading by example. Here are some tips to support your financial future:

  1. Knowledge is power – Become financially savvy and seek knowledge when you need to know more. There are plenty of financial tools available that can be customized to your banking needs. When you need additional direction, talk to your local banker.
  2. Don’t neglect retirement funding – Consider automating your retirement savings. Putting a little money away every month makes this happen, and automatic withdrawals are easy to set up.
  3. Support women – Many women-owned businesses took a hard hit in 2020 because of the pandemic. Support women-owned companies in your community by using your purchasing power.

Ms. Walker’s concern for her community was the driving force behind her establishing the St. Luke Penny Savings Bank. Her legacy lives on through the growing numbers of woman bank executives as well as the proliferation of community banks.

Providence Bank was established with the concept that banking should be personalized for our friends and neighbors – like you. Some people just want to keep their money close to home. It makes sense, doesn’t it? Call: 678-624-2265 or contact Providence Bank to learn more.

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