` First Chartered Black-Owned Bank in the `US ‘ Opened in 1888 ‘ by a former Slave’

#AceFinanceNews says `First Black Owned Bank’ was opened in the `US‘ back in 1888 and was on the site of the `Vanquished Confederacy

WASHINGTON, March. 2, 2014 /PRNewswire-USNewswire/ — Following is the daily “Profile America” feature from the U.S. Census Bureau:

FIRST BLACK-OWNED BANK

Profile America — Sunday, March 2nd.

The capital of the vanquished Confederacy was the site of the first chartered black-owned bank in the U.S., founded on this date in 1888 by former slave and Union Army veteran William Washington Browne.

Savings Bank of the Grand Fountain, United Order of True Reformers.It was known as the Savings Bank of the Grand Fountain, United Order of True Reformers.

The bank provided mortgage loans and other banking services that were difficult for African-Americans to obtain in the segregated climate after reconstruction. When the bank opened, Richmond had a population of just over 81,000 people, 32,000 of them African-American. Today, Richmond is home to over 210,000 people, just over half of them African-Americans. You can find more statistics on communities across the country by downloading the Census Bureau’s “dwellr” mobile application at www.census.gov/mobile.

Sources:

Kane’s Famous First Facts, 842
Historical Statistics of the United States: Colonial Times to 1970, p. 483
http://www.blackpast.org/?q=aah/true-reformers-bank-1888-1910

Click to access 1890a_v1-13.pdf


http://quickfacts.census.gov/qfd/states/51/51760.html http://www.vahistorical.org/tah/truereformers.htm
Profile America is produced by the Center for New Media and Promotions of the U.S. Census Bureau. These daily features are available as produced segments, ready to air, on the Internet at http://www.census.gov (look for “Multimedia Gallery” by the “Newsroom” button).
SOURCE U.S. Census Bureau

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` Fifty Million Americans live in Poverty even though they receive Benefits’ the Year 2013′

#AceFinanceNews says that `Fifty Million Americans’ are living in poverty, even with benefits, it’s even higher – NOW! Mr Obama!

Published time: November 07, 2013 22:51
Edited :March 01 2014 20:50

Families search through shoes donated by Crocs at a distribution site for Feed The Children (AFP Photo / Scott Olson)

Families search through shoes donated by Crocs at a distribution site for Feed The Children (AFP Photo / Scott Olson)

Almost 50 million Americans are suffering financial hardship, and the situation is not improving, the US Census Bureau has found, using a sophisticated measurement of poverty that takes into account benefits, necessary spending and geographical location.

Unlike the official poverty threshold, which counts anyone who earns less than three times the cost of the minimum food diet – or $23,050 for a family of four in 2012 – as poor, the supplemental poverty index is more sensitive and accurate.

A family of four living in rural Kentucky without a mortgage, for example, would actually need to earn less than $18,000 to be poor, while the same family living in San Francisco in mortgaged house would need more than $35,500 to get by.

Image from census.gov

Image from census.gov

According to the supplemental poverty measure 49.7 million Americans can be classified as poor. The results show that even more Americans are in distress than the raw official figures show. The official survey, also published by the US Census Bureau in September, reported that 47 million Americans are below the poverty line.

The percentage of those suffering poverty remains virtually unchanged from 2011 and 2010, and is worse than that in 2009.

The worst affected are Blacks, Hispanics and those born outside the US (which may overlap the other two categories) – of these minorities just above a quarter are living in poverty. Worst off are non-citizens, who do not have the rights or the know-how to receive support from federal programs.

When factoring in expenses, the states with the least poverty are Iowa, Wyoming and Minnesota, and those with the highest proportion are DC and California, where nearly 24 percent of all people are below the threshold.

The survey also demonstrates who is most dependent on government aid, and would be confined to financial hardship without it.

Those 65 and over have a supplemental poverty rate of 14.8 percent. But without Social Security more than half of them would be destitute. Official statistics show that less than 10 percent of this group is poor – but taking into account heavy out-of-pocket healthcare spending, which the survey does, means this group is under more financial pressure than it appears .

The situation is reversed on the other side of the age spectrum. Official statistics show that more that more than 22 percent of under-18s are suffering from poverty, but the more sophisticated statistics that include tax credits, show that the number is around 18 percent. 

Image from census.govImage from census.gov
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