Syndication One talker Warren Ballentine is teaming with The National Bankers Association (NBA), the organization which represents African-American banks and banking executives, to spearhead a national campaign to get minorities and other consumers in the urban areas to bank with minority banks. The campaign, called “The People’s Economic Movement,” is planned to coincide with the unveiling of the Dr. Martin Luther King, Jr. memorial statue in Washington, D.C. August 28, 2011. According to Michael Grant, president of the NBA, “This self-help, empowerment movement is designed to stimulate much-needed economic development at our nation’s urban core. By depositing their money in minority banks, getting mortgages, small business loans or loans for college tuition from banks in their communities, consumers begin a process of harnessing the economic strength of the masses in a way that creates direct benefits to their communities which are still suffering from the worst economic crisis since the Great Depression.”
Ballentine explained, “This recession has created not a moment in time but a movement in time. Community economic development will only come with an intelligent and targeted approach to managing money. By investing their money in the minority banks in their own communities, consumers will begin to see how to make capitalism work in their favor.”
The National Bankers Association is a consortium of African-American, Hispanic-American, Asian-American and Native-American owned banks. The association’s member banks operate branches in 29 cities located across America.