Michael “Killer Mike” Render has partnered with former mayor Andrew Young and business owner Ryan Glover to launch Greenwood. Greenwood is a digital bank aimed at promoting economic success and financial literacy within Black and Latinx communities.
“It’s no secret that traditional banks have failed the Black and Latinx community,” Glover said.
“We needed to create a new financial platform that understands our history and our needs going forward, a banking platform built by us and for us, a platform that helps us build a stronger future for our communities. This is our time to take back control of our lives and our financial future. That is why we launched Greenwood, modern banking for the culture.”
Greenwood is named after the historic neighborhood in Tulsa, Oklahoma that was once home to some of the nation’s most successful Black-owned businesses.
The bank will offer the same features as many other banks. They will offer debit cards, savings accounts, checking accounts and digital integrations such as Apple Pay, Google Pay and Samsung Pay. Greenwood will also offer mobile checking deposits and free ATM usage at nearly 30,000 locations.
Applications for Greenwood will open this week and the bank will begin servicing clients in 2021.