Commonwealth National Bank Celebrates Juneteenth By Promoting Financial Freedom – Helping To Close The Racial Wealth Gap
Digital Platforms Will Engage The Unbanked and Underserved
This year, Commonwealth National Bank is proud to be among more than a dozen Minority Depository Institutions (MDIs) that will celebrate Juneteenth by participating in the City of Prichard Juneteenth Festival & Parade on June 19, to promote financial literacy and sound money management.
In association with the National Bankers Community Alliance (NBCA), a 501(c)(3) affiliate of the National Bankers Association (NBA), Commonwealth joins other NBA member banks in a new financial wellness platform now available on www.ecommonwealthbank.enrich.org/ to help more minority communities achieve financial wellness. Commonwealth will be among the 143 MDIs nationally that will engage customers and communities this Juneteenth to help create positive financial behaviors, build wealth, and close the racial wealth gap.
“Commonwealth National Bank is proud to join the Mobile community in observing Juneteenth in a way that will help create generational wealth for our community,” said Sidney King, President & CEO of Commonwealth. “We want to help everyone from teenagers to seniors, secure strong financial futures.”
The financial services industry offers an array of services that can be confusing and challenging to most consumers, particularly the unbanked and underbanked in minority communities. Once a simple selection of banking services, consumers now have a wide choice of digital apps, cryptocurrencies, and debit/credit card options. Some financial options are risky and Commonwealth wants to help our community navigate these options.
Juneteenth, also known as Emancipation Day, commemorates the day in 1866 when Black people in Texas were notified of their freedom, more than two years after the passage of the Emancipation Proclamation. It was designated a national federal holiday in 2021 and has traditionally been celebrated with festivals, picnics, and cultural events. This year, NBA’s MDI’s will celebrate Juneteenth with a series of financial literacy initiatives to acknowledge the wealth disparities in minority communities and launch actions to close the racial wealth gap.
For more information about the NBCA, visit https://www.nationalbankers.org/alliance.