While the bank doesn’t open until January, the company launched its website on Thursday and there is already a waiting list for those who want to open a Greenwood account.
“I will say we’re in the tens of thousands,” Glover told CNN Business on Friday. “That number is increasing by the day.”
What is Greenwood?
“In order to build wealth, you need bank capital,” Glover said. “We will identify qualified entrepreneurs, business owners and creatives to equip them with the capital needed to make their dreams a reality.”
Why bank Black?
Before it was destroyed nearly a century ago, Glover said, a dollar spent in Tulsa’s Greenwood district would circulate 36 times before leaving the community.
“This lack of fairness in the financial system is why we created Greenwood,” Render added.
Why create a digital bank?
“There were no digital banking solutions that cater to the African-American or Latinx communities until Greenwood,” Glover said.
“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,” he said. “We certainly know the traditional larger banks don’t understand our community.”
“I believe digital banking is the wave of the future, not just something that’s popular now,” he said.