Run The Jewels’ Killer Mike has co-founded a new digital banking service called Greenwood. It’s a platform specifically for the Black and Latinx communities. Mike co-founded the bank with former Atlanta Mayor and civil rights activist Andrew J. Young and Ryan Glover, founder of the Bounce TV network.
“Today, a dollar circulates for 20 days in the white community but only six hours in the Black community,” Killer Mike, real name Michael Santiago Render, 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.”
Co-founder, Glover added, “It’s no secret that traditional banks have failed the Black and Latinx community.”
“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.”
The new banking platform is set to offer savings and spending accounts along with black metal debit cards for customers who sign up this year.
Killer Mike and his two co-founders plan to give back through the platform too. Per every new customer, they’ll be donating five free meals to those in need. Plus, donations will be made to the United Negro College Fund, Goodr, and the NAACP with every use of a Greenwood debit card.
As well as that, the banking platform has plans to award $10,000 grants to customers who are small business owners.
You can find Greenwood’s website here.