Citizens Trust Company became the first African-American owned bank in the United States to become a member of the Federal Deposit Insurance Corporation (FDIC). And, in 1947, Citizens Trust Company was the first Black-owned bank to be a member of the Federal Reserve System.
August 16: The doors of Citizens Trust Company were opened on Sweet Auburn Avenue with $500,000 in capital stock. The goals of the new bank were threefold: to promote financial stability and business development, to stress the principles of thrift and to make home ownership possible to a larger number..Read More
Five men envisioned a bank which would primarily serve black citizens of Atlanta, Georgia. Led by businessman Heman E. Perry, along with James A. Robinson, Thomas J. Ferguson, W.H. King and H. C. Dugas, later called “The Fervent Five”, pooled their talent and resources to develop an black owned and..Read More
