Should Black Churches and Organizations Unite Financially Based on Collective Banking?

Black Churches in Texas Unite Financially Based on Collective Banking Program in Maryland

released on 03/22/06 at 09:01:34

African-American church leaders say blacks aren’t treated fairly by local banks, so they pooled their resources to bring economic equality to their communities.

They formed Texas Churches United for Empowerment (TCUE) to represent African-American churches in Central Texas and ensure equal treatment from financial institutions. Rev. Pastor Joseph C. Parker, Jr., the pastor of David Chapel Missionary Baptist Church in East Austin heads the nonprofit.

They’ve come up with standards and criteria for banks to adhere to when dealing with the African-American community. The TCUE bases its plan on the Collective Banking Program of Maryland, which represents nearly 200 black churches with more than $100 million in approved loans and $130 million in deposits. Full Article