Wall St. and Business Wednesdays: The Official Nomination Letter To The Nine Candidates In The BlackElectorate.com "Business and Building" Black-Owned Bank Initiative
[Editor's Note: The following is the text of the letter written by BlackElectorate.com Publisher Cedric Muhammad and mailed to the nine (9) banks nominated by the "Business and Investment" Leadership Team as candidates for possible final selection. Those nine banks are: Broadway Federal Bank of Los Angeles, California; Carver Bancorp Inc. of New York, New York; Citizens Trust Bank of Atlanta, Georgia; Douglass National Bank of Kansas City, Missouri; First Tuskegee Bank of Tuskegee, Alabama; Illinois Service Federal of Chicago, Illinois; Industrial Bank of Washington, D.C.; One United Bank of Boston, Massachusets; and Mechanics and Farmers Bank of Durham, North Carolina.]
July 7, 2007
Dear [Bank Representative],
May this find you, your family, staff, and institution well and prospering.
I am writing you on behalf of the BlackElectorate.com "Business and Building" Community - a group of over 300 individuals - entrepreneurs, professionals, activists, artists, intellectuals, and students - committed to the development, advancement and unity of the Black community in America, the Western Hemisphere, and all over the world, on the basis of lawful dialogue and righteous principles.
Founded in October of 2006, and growing out of BlackElectorate.com's mission to build an independent community of information, education and action - the founding members of the 'Business and Building' Community came together, in Washington, D.C. around the theme, "Toward A Learned Community Connected To The Masses," in order to establish initiatives in the following areas: Business and Investment; Community Development; International Affairs; and Political Action.
In the area of Business and Investment it was decided that we would launch a Black-Owned Bank and Investment Club Initiative, with the goal of inspiring and persuading at least 500 persons to open a bank account - checking or savings - with a Black-owned commercial lending institution in the United States of America. In addition, it was agreed that we would establish an investment club of no more than 99 of these persons, which would establish an account, at that same institution.
We are very pleased to inform you that your institution is one of only nine (9) nominated for final selection. For more background on our Community and Initiative, I have included two communications in this folder, published at BlackElectorate.com
If your lending institution is interested in receiving deposits from hundreds of Blacks living in America looking to support and encourage Black-owned banks, in their historically critical role, our leadership team would like to begin discussions with you immediately.
Our Community Members range from the 'unbanked' - those who have never opened or managed a bank account, to experienced investors in financial markets, familiar with commercial banking practices, instruments, and policies. Regardless to class or status, however, all of the 200 persons already registered for this Initiative have provided specific information regarding their commitment, expressing three objectives: improved financial literacy, wealth creation, and community development.
The commercial bank that can best help us meet our objectives in these three areas will receive our individual deposits and an endorsement before the larger Community of tens of thousands of BlackElectorate.com viewers.
We sincerely hope that we can do business with one another, make a profound statement together before the world, and significantly improve the economic lives of our people.
If you would like to begin a dialogue with our leadership team or have any questions or concerns, please do not hesitate to contact me directly via telephone at: [private #] or via e-mail at: [private address].
You have our best wishes for your continued success.
Those interested in signing up for this important initiative can do so at:
Wednesday, July 11, 2007