"St Luke Penny Savings Bank" (`11 2,1903)

Started by Maggie Lena Walker in Richmond ,Vorginia,this was one of the first African American owned banks in America.The Saint Luke Penny Savings Bank,as it name suggests,was established as an institutions whose interests was the small investors,literally the pennies of African American washerwomen--ultimately proving that even with pennies,the African American community had economic power-Opening Day Recipts Totaled $9,430.44.Saint Luke Penny Savings Bank merged with two other banks to become Consolidated Bank and Trust,the oldest existing African American owned and operated bank in the U.S.,with several branches today in Richmond and Hampton,Virginia.