In honor of Juneteenth, I want to discuss the Black Angels Miami Investor group, black-owned banks and credit unions (and where to find them), and the Black Bitcoin Billionaire. Let’s get started. According to the federal reserve, Black American families typically have eight times less wealth than White American families. Due to lack of generational wealth, black business owners lag white business owners in wealth accumulation.
I want to highlight a group in Miami doing something about it; Black Angels Miami or BAM. Black Founders have had less access to capital, so we celebrate Black Angels Miami that works to help make introductions of founders and investors. Black Angels Miami is a group of investors that prioritizes diversity and is black-owned and black-led. Their message is, “BAM believes diverse perspectives improve investment outcomes. With this in mind, we intend to recruit members of all races, creeds, and orientations while proactively increasing participation by Black investors.” They have an excellent message and an incredible team. Please go check them out on their website and their Twitter page.
The second thing I want to highlight is black-owned banks and credit unions. Traditionally, it’s been hard for black Americans to get loans at a reasonable rate. To avoid these insane interest rates, finding a black-owned bank or credit union could be essential. One in Florida is the FAMU Federal Credit Union who offers competitive rates to its members. You can find many others by searching the web for “black-owned banks and credit unions” if you can’t find any in your area, there are also many online-only financial technology services. One of these online African-American-owned financial technology companies is called MOCAFI, and they provide banking, credit building, and wealth coaching services to economically marginalized people.
The last thing I want to touch on in honor of Juneteenth is the Black Bitcoin Billionaire group. The Black Bitcoin Billionaire group aims to decentralize money, financial assets, and financial systems to level the playing field. Similar to the black-owned banks, this system encourages black families to learn about and invest in cryptocurrency.
That’s it for this unique business quickie honoring Juneteenth. I hope you enjoyed it, and let me know what you think below. I will see you next time.