Maggie Lena Walker: The First Black Woman to Charter a US Bank

Maggie Lena Walker was born on July 15, 1864, in Richmond, Virginia. She is remembered as the first African American woman to charter and serve as president of a U.S. bank.

Walker founded the St. Luke Penny Savings Bank in 1903. The bank served the Black community in Richmond at a time when most financial institutions refused to serve African Americans. Under her leadership, the bank survived the Great Depression and later merged with two other Black-owned banks to form the Consolidated Bank and Trust Company.

Beyond banking, Walker was a newspaper publisher and a community organizer. She used her position to advocate for economic independence and civil rights. Her legacy is recognized annually on July 15, the anniversary of her birth.