Showing posts with label North Milwaukee State Bank. Show all posts
Showing posts with label North Milwaukee State Bank. Show all posts

Saturday, April 23, 2011

One Black owned Bank that isn't going out of business

According to recent news reports, "North Milwaukee State Bank.. recently commemorated a milestone of providing service to the community for over 40 years."

North Milwaukee State Bank ( now NMSBank ) celebrated "over 40 years of service to the community by hosting a 40 Plus Year the Milwaukee County War Memorial on April 14, 2011. The bank opened its doors on February 12, 1971, becoming Wisconsin’s first minority-owned bank.NMSBank co-founder Dr. William Finlayson states 'I never had any hesitation in opening the bank because I was motivated to bring economic empowerment to the community. People questioned the impact a minority bank would have on the community, but the biggest immediate impact was the sense of pride it gave the community.'

NMSBank co-founder Dr. Randle Pollard credits the success of opening NMSBank to the rapid exit of larger banks from the community, the civil rights movement, and a rush of college graduates who majored in accounting, banking, and finance. 'All three factors made the time right and ripe to establish a bank. It also was an ideal time because all the things the community needed financially, NMSB would be there to provide,' says co-founder Pollard."

Well done, gentlemen. Well done indeed.