Economic History: Maggie Lena Walker

John Mullin

Econ Focus, 2022, vol. 22, issue 4Q, 12-15

Abstract: Maggie Lena Walker built the St. Luke Penny Savings Bank to last. When it opened its doors in Richmond's Jackson Ward district in 1903, Walker became the first Black woman to establish a bank in the United States. She would stand at its helm as president for nearly 30 years, safely steering it through periodic bouts of economic turmoil, eventually increasing its assets more than tenfold. To cap off her career, she would solidify the bank's long-term prospects by orchestrating mergers with two other banks during the depths of the Great Depression.

Keywords: Maggie Lena Walker; Economic History; African-American; African Americans - Economic conditions (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.richmondfed.org/-/media/RichmondFedOrg ... economic_history.pdf Journal Article (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedrrf:95333

Ordering information: This journal article can be ordered from

Access Statistics for this article

More articles in Econ Focus from Federal Reserve Bank of Richmond Contact information at EDIRC.
Bibliographic data for series maintained by Christian Pascasio ().