Posts

Showing posts with the label North Milwaukee State Bank

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 Celebration..at 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 accounti…