Maggie L. Walker: Starting Fourth Dimension African American Adult Woman To Establish A Depository Fiscal Establishment Inwards The United States

Photo of Maggie Lena Mitchell Walker (b. 7/15/1864 - d. 12/15/1934)

Maggie Lena Mitchell was born on July 15, 1864, the miss of Elizabeth Draper in addition to William Mitchell. Both of her parents were born into slavery inward Virginia. Her woman raise worked equally a servant at the Van Lew estate inward Richmond, Virginia.

Tragedy struck the Mitchell solid unit of measurement early on inward post-Civil War Richmond when her father was found floating inward a river, robbed in addition to murdered. Despite these early on challenges, Maggie graduated from the Colored High in addition to Normal School at the hap of her cast in addition to would accomplish national prominence equally a community leader in addition to trouble concern adult woman -- becoming the foremost African American adult woman inward the the States to found a bank.

Born into a South changed yesteryear the Civil War, Maggie's graduating cast was quite active inward pressing frontward the crusade of equal handling nether the law. In fact, her cast is known to accept held the foremost schoolhouse smasher yesteryear African Americans inward the United States. The theme of the smasher was that graduates of European descent were given a metropolis facility for their starting fourth dimension exercises, something the students of African descent were deprived. Maggie's cast was successful inward its protest, resulting inward succeeding graduates having equal access to tax-supported facilities.

On September 14, 1886, Maggie married Armistead Walker, Jr. Her married adult man was a successful brick bricklayer in addition to edifice contractor, providing her amongst a comfortable life to heighten their 2 sons in addition to attention for the family.


1901 Executive Board of the Order of St Luke

The immature Mrs. Walker soon became active amongst the Order of St. Luke organization, a fraternal burial gild originally established inward Baltimore inward 1867 to help the aged, sick in addition to to bury the dead. She held many positions inward the fraternal order. By 1899, she was the organization's Right Worthy Grand Secretary. She before long took over the financially ailing organisation when it had no money, no belongings in addition to exclusively 300 members. Bring the organisation dorsum to solvency, Maggie increased its membership to 100,000 and expanded the plow over of the association to 24 states. 

Headquarters of the St. Luke Penny Savings Bank

By 1902, Mrs. Walker had developed a innovation for a banking establishment to hold upwards called the St. Luke Penny Savings Bank. In ane of her speeches she stated,  "Let us pose our coin together; allow us piece of occupation our money; Let us pose our coin out at usury amid ourselves, in addition to reap the create goodness ourselves." On Nov 2, 1903, the St. Luke Penny Savings Bank opened for trouble concern at the St. Luke Headquarters Building at 900 St. James Street inward Richmond, Virginia. Mrs. Walker became its foremost president in addition to the foremost African American adult woman to charter a U.S. bank.

The St. Luke Penny Savings Bank would later on popular off the St. Luke Bank in addition to Trust Company, a depository for metropolis taxes in addition to gas in addition to H2O accounts. It eventually merged amongst 2 other local banks in addition to became The Consolidated Bank in addition to Trust Company. Until 2009, the banking concern was the oldest continually running African American operated banking concern inward the United States.