Is Citizens Bank Black Owned?

What’s the largest Black-owned bank in the U.S.?

Founded back in 1968 in Boston, OneUnited specializes in loans, mortgages, and financial literacy programs for underserved groups. It’s also behind the popular #BankBlack movement, pushing people to move their money to Black-owned banks. For comparison, the next biggest Black-owned bank, Industrial Bank in D.C., has about $600 million in assets.

Who started Citizens Bank?

Borba started as a dairy farmer and small business owner in Southern California before launching the bank to support local companies. Today, it runs 40+ branches across California and Nevada. (Just so we’re clear: this is Citizens Business Bank, not the Rhode Island or Georgia versions.)

Is Citizens Bank of Georgia Black-owned?

Heman Perry launched this Atlanta-based bank in 1921, and it now serves over 12,000 customers with $500 million+ in assets. It’s a Certified Community Development Financial Institution (CDFI) focused on helping minority-owned businesses and low-to-moderate income neighborhoods. You can open an account online or visit one of its eight metro Atlanta branches.

Which banks are actually Black-owned?

Some of the most well-known include:

• OneUnited Bank (Massachusetts) – the biggest by assets
• Citizens Trust Bank (Georgia) – the third largest
• Liberty Bank and Trust (Louisiana) – operates in 13 states
• Industrial Bank (Washington, D.C.) – specializes in real estate lending
• Carver Federal Savings Bank (New York) – the oldest Black-operated depository

All of these are FDIC-insured and often tailor their services to the communities they serve. Check the full list on the FDIC website.

Is Citizens Bank any good?

As of 2026, Citizens Bank (under Citizens Financial Group) has over $200 billion in assets and serves 14 states. Its checking accounts come with $5–$25 monthly fees, but you can dodge them with direct deposits or minimum balances. Overdraft fees? A painful $35 per item. If you value in-person banking and solid digital tools, it might work for you. If you want high-yield accounts or fee-free banking, online banks like Ally or Discover are probably better bets.

Where can I find Citizens Bank locations?

Its retail banking footprint covers 14 states: Connecticut, Delaware, Maine, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, and Vermont. The bank runs over 1,200 branches and 3,200 ATMs. Need to find a specific location? Use their official locator tool.

How many Black-owned banks exist in America right now?

The count shifts slightly with mergers and new charters, but according to the FDIC, these banks hold roughly $6.5 billion in combined assets. While that’s less than 1% of all U.S. banks, they play a key role in bringing credit and capital to communities that have historically been left behind.

What was the first Black-owned bank in America?

A group of Black investors led by John E. Bryant founded it just 23 years after emancipation. Within four years, deposits topped $300,000—a huge sum back then. The bank closed in 1910 due to financial strain, but its legacy helped pave the way for later institutions like Citizens Trust Bank (1921) and Industrial Bank (1934).

Is Fifth Third a Black-owned bank?

That said, Fifth Third has invested over $2.5 million in First Independence Bank, a Black-owned bank in Detroit, to help it grow and fund community programs. First Independence, which opened in 1970, is now the nation’s seventh-largest African American-controlled commercial bank with $500 million in assets. While Fifth Third itself isn’t Black-owned, its support helps expand banking access in minority communities.

How many Black-owned banks were there in 2020?

The number has stayed fairly steady, with minor ups and downs from mergers and new charters. Back in 1994, there were 54 Black-owned banks. The decline tracks broader industry trends (fewer small banks overall), but the remaining institutions have grown stronger—assets have jumped over 150% since 2010.

What’s the oldest bank still operating in America?

Alexander Hamilton, the first U.S. Secretary of the Treasury, helped launch it during the post-Revolutionary War financial rebuilding. Today, BNY Mellon is a global financial giant managing trillions in assets. Other historic contenders include Wells Fargo (1852) and JPMorgan Chase (1799), but none beat BNY Mellon’s 240+ years.

What’s the best Black-owned bank?

Here’s how the leading Black-owned banks stack up as of 2026:

Compare fees, rates, and branch access before deciding. All are FDIC-insured and let you open accounts online.

Is TD Bank really that bad?

As of 2026, complaints logged with the CFPB include problems with overdrafts, sudden account freezes, and slow customer service. Over 1,200 complaints have piled up in recent years. On the flip side, it offers 24/7 customer support and a massive ATM network. If transparency and trust matter more to you, smaller or online-only banks with better ratings might be a smarter move.

Why should I pick Citizens Bank?

As of 2026, Citizens Bank (part of Citizens Financial Group) serves 14 states with over 1,200 branches and a top-rated mobile app. It’s been named a “Best Bank in America” by Money Magazine and gets high marks for fraud protection. The catch? Overdraft fees ($35) and monthly maintenance fees ($5–$25) apply unless you meet the waiver conditions. If you want in-person service plus solid digital features, it’s a solid choice.

Is Santander a decent bank?

As of 2026, Santander operates mostly in the Northeast with hundreds of branches and thousands of ATMs. Its checking accounts charge $10–$15 monthly fees, though you can usually skip them. Savings rates? Practically zero. Overdraft fees hit $35 per item. On the bright side, it offers round-the-clock customer support and international transfer services. If convenience and fee waivers are your top priorities, it’s fine; if you want better yields or no fees, credit unions or online banks like Ally or Capital One 360 are better bets.