On This Day In Black History Oct 17 - Capital Savings Bank, the first bank organized and operated by African-

This Day in Black History: Oct. 17, 1888

Capital Savings Bank, the first bank organized and operated by African-Americans, was organized in Washington, D.C, on Oct. 17, 1888.

On Oct. 17, 1888, Capital Savings Bank, the first bank organized and operated by African-Americans, was founded in Washington, D.C.

Capital Savings helped stimulate Black entrepreneurship by offering loans to Black-owned businesses and land owners when white-owned banks would not. Confidence in the bank continued to grow, and, by 1892, deposits were estimated at $300,000.

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