Citation

Pioneers in Community Development: African American Banks in St. Louis, Missouri

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Abstract:

In 1915, St. Louis Argus newspaper publisher Joseph E. Mitchell editorialized that he was determined "to bend his every effort to lift black St. Louis to the place it should occupy in the nation." A part of that uplift was black business development. Black community leaders such as Mitchell believed that financial backing was an integral part of the uplift process. To that end, three financial institutions were founded and developed in St. Louis by black business leaders—New Age Savings and Loan Association (1915), People's Loan and Finance Company, incorporated as People's Finance Corporation (1922), and Gateway National Bank (1964). This presentation will document the challenges encountered by the black community in operating these institutions as banking regulations changed, the economy declined, and white retail banking services to the black community expanded.
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Association:
Name: 95th Annual Convention
URL:
http://www.asalh.org


Citation:
URL: http://citation.allacademic.com/meta/p435126_index.html
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MLA Citation:

Greene, Debra. "Pioneers in Community Development: African American Banks in St. Louis, Missouri" Paper presented at the annual meeting of the 95th Annual Convention, Raleigh Convention Center, Raleigh, North Carolina, <Not Available>. 2014-11-27 <http://citation.allacademic.com/meta/p435126_index.html>

APA Citation:

Greene, D. F. "Pioneers in Community Development: African American Banks in St. Louis, Missouri" Paper presented at the annual meeting of the 95th Annual Convention, Raleigh Convention Center, Raleigh, North Carolina <Not Available>. 2014-11-27 from http://citation.allacademic.com/meta/p435126_index.html

Publication Type: Invited Paper
Abstract: In 1915, St. Louis Argus newspaper publisher Joseph E. Mitchell editorialized that he was determined "to bend his every effort to lift black St. Louis to the place it should occupy in the nation." A part of that uplift was black business development. Black community leaders such as Mitchell believed that financial backing was an integral part of the uplift process. To that end, three financial institutions were founded and developed in St. Louis by black business leaders—New Age Savings and Loan Association (1915), People's Loan and Finance Company, incorporated as People's Finance Corporation (1922), and Gateway National Bank (1964). This presentation will document the challenges encountered by the black community in operating these institutions as banking regulations changed, the economy declined, and white retail banking services to the black community expanded.


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Youth Activism and Youth Development among African American Youth in Urban Communities

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