A historic Atlanta bank is busy after influencers in the black community called for people to move their money into black-owned banks.
Citizens Trust Bank, founded in 1921 on Auburn Ave., is owned and operated by African Americans. After a week of protests following new officer-involved shootings, celebrities and influences started sharing blogs listing various black-owned banks throughout the country. Citizens Trust Bank was on that list.
Jay Bailey is chairman of the bank's Next Generation Advisory Board. He said in just five days, 8,000 people submitted applications to join the bank.
"It's a tremendous propel forward for the bank and the future of the bank and bringing new relevance to a bank that's been here for 95 years. And, it's a statement about what the next 95 years will look like," Bailey said.
Photos | Citizens Trust Bank in Atlanta
Executive Vice President and Chief Credit Officer Fredrick Daniels said the bank was central to building the historic Sweet Auburn neighborhood and lending to African American business people and homeowners at a time when segregated white banks didn't serve their communities.
"Citizens Trust provides a financial foundation for our community," he said.
"Throughout the years, we've been through depression, been through several recessions; every economic cloud that this country has endured, the bank has sustained and now we're looking to truly grow. "
He said that most people don't know there is a black-owned bank in Atlanta.
In the days following the police shooting deaths of Philando Castile and Alton Sterling and in the midst of protests and rallies, national celebrities like Solange Knowles and local influences like Tiwa Works shared pictures and articles convincing people to open accounts and #BankBlack.
"Rallies are great and they're necessary. Protesting is great and it's necessary but what will sustain and grow from here is our dollar and galvanizing our dollar," Bailey said.
The bank is FDIC insured and has several branches in Georgia and Alabama.
