Killer Mike has co-founded Greenwood, a digital banking platform for Black and Latinx people. The Run The Jewels member launched the online banking services with Andrew J. Young, a civil rights activist and former mayor of Atlanta, and Ryan Glover, the 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,” 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.”
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.”
Initially, Greenwood is offering savings and spending accounts along with a black metal debit cards for customers who sign up before the end of 2020. Mike and his team’s banking platform is also providing Apple, Samsung and Android pay features, mobile check deposits, peer-to-peer transfers, virtual debit cards and free ATM usage in over 30,000 locations.
Greenwood plans to give back as well by donating five free meals to a family in need per every sign-up of a new customer. Plus, every use of a Greenwood debit card will lead to donations to the United Negro College Fund, Goodr and the NAACP.
Additionally, Greenwood intends to award $10,000 grants to Black or Latinx customers who own small businesses. The grants will allotted on a monthly basis.
Sign up for a Greenwood account and find more information about the platform here.