Killer Mike joined forces with former Atlanta mayor, Andrew J. Young, and Bounce TV network CEO, Ryan Glover, to launch a digital banking app, Greenwood.
“Today, a dollar circulates for 20 days in the white community but only six hours in the Black community,” Mike said in a press release. “Moreover, a Black person is twice as likely as a white person to be denied a mortgage. This lack of fairness in the financial system is why we created Greenwood.”
The company explained the numerous ways that banking with Greenwood would benefit under served communities.
“It’s no secret that traditional banks have failed the Black and Latinx community,” Glover said in the press release. “We needed to create a new financial platform that understands our history and our needs going forward, a banking platform built by us and for us, a platform that helps us build a stronger future for our communities.
“This is our time to take back control of our lives and our financial future. That is why we launched Greenwood, modern banking for the culture.”
Greenwood plans to donate five meals to families in need for every sign up. Additionally, after every use of the Greenwood debit card donations will be made to the NAACP. Finally, the company will offer $10,000 grants to small Black and Latino-owned businesses.
Check out Greenwood’s website here