Killer Mike has been a consistent outspoken advocate on a number of social causes. Most notably, the rapper has been a rallying voice for more investment into the Black community through Black-owned banks and businesses. Now, Killer Mike is taking his mission one step further by launching a digital banking platform for Black and Latinx people.
The Run Jewels’ MC unveiled the venture last week on Thursday (October 8). Killer Mike has partnered with former Atlanta Mayor Andrew Young and Bounce TV founder Ryan Glover to create Greenwood, according to a press release obtained by the Associated Press. Named after the historic neighborhood in Tulsa that was also known as “Black Wall Street,” the online bank aims to provide more equitable financial services to Black and Latinx people.
While speaking to CNN Business on Friday (October 9), Glover said that there is already a waiting list for those who want to open a Greenwood account. The online banking platform won’t be in operation until January 2021 but the TV mogul estimated that the company has already acquired account requests numbering in the “tens of thousands [and] that number is increasing by the day.”
Greenwood will be offering savings and spending accounts along with black metal debit cards for customers who sign up by the end of the year. There will also be a $10,000 grant for small business-owners provided on a monthly basis. For every one customer who signs-up, Greenwood will provide five free meals to a family in need, according to AP.
Additionally, the commpany plans to make donations to the United Negro College Fund (UNCF), Goodr, and the NAACP for every card swipe.
“We believe there is an opportunity to continue to super serve our community by creating a digital bank that maybe the traditional African-American, Latinx banks just don't understand. We certainly know the traditional larger banks don't understand our community, Glover told CNN Business. “I believe digital banking is the wave of the future, not just something that's popular now.”
Find out more about Greenwood here.