Chicago To Deposit $20M In City’s Last Black-Owned Bank | WBEZ
Skip to main content

WBEZ Updates

Chicago To Deposit $20M In City's Last Black-Owned Bank

The city of Chicago is depositing 20 million dollars with the city’s last black-owned bank. The money will help shore up Illinois Service Federal Savings and Loan Association, located in the Bronzeville neighborhood, which has recently been on shaky financial footing. According to federal data, the number of black-owned banks in the country has declined by about half since 2001.

Get the WBEZ App

Download the best live and on-demand public radio experience. Find out more.