Churches Influence Banking in Baltimore

August 19, 2000

Source: The Houston Chronicle

On August 19, 2000, The Houston Chronicle reported that in "Baltimore, a growing number of black churches are asking members to open accounts in area banks that have pledged to invest in the city's black community. The concept, called collective banking, has netted $ 1 billion in assets for 110 black churches and nonprofit organizations that have joined the program, ministers say. The Collective Banking Group of Baltimore and Vicinity recently renewed its three-year contract with four banks: Bank of America, First Union Corp., Harbor Bank of Maryland and Advance Federal Savings and Loan."