Bounce TV’s Ryan Glover, Killer Mike, and Andrew Young Establish Black-Owned Digital Bank

Rapper Killer Mike and Bounce TV originator and President Ryan Glover have teamed up to launch Greenwood, a new digital bank customized to Black and Latinx communities.

What We Know:

  • The bank will be named Greenwood, after the growing Black community in Tulsa, Oklahoma. The city, nicknamed “Black Wall Street,” was demolished by a crowd of White supremacists in the 1920s.
  • According to CNN, Greenwood is a banking service that runs entirely online, giving mobile deposits for checking and savings accounts, that looks to aid minority-owned businesses.

  • For every sign up for this foundation, the company will give the equivalent of five free meals to an organization addressing food insecurity. They will also provide to either the United Negro College Fund, Goodr (an organization that addresses food insecurity), or the NAACP every time the card is used. The bank will also give a $10,000 grant to a Black or Latinx small business owner that utilizes Greenwood.

  • Glover announced that the bank was created to provide loans and financial aid for Black-owned businesses who have had difficulty with white-owned banks.
  • Killer Mike, whose government name is Michael Render, is an Atlanta business proprietor who stated that the financial system has been bad for Black Americans, and that’s what inspired the invention of Greenwood. The Grammy-winner also expects that this investment will boost the chances of Black dollars staying in Black neighborhoods.
  • The idea for Greenwood was designed by Glover last year and is set to launch in January 2021 officially. Glover mentioned that the assassinations of George Floyd and the civil tension everywhere in the nation advanced his work on the bank.

Glover mentioned to CNN that Greenwood has brought more than $3 million in seed money and gathered a growing waiting list of “tens of thousands” of people looking to create an account.