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Promoting Youth of Minority Banks PDF Print E-mail
Articles | Business
Written by Morphus on Saturday, 23 July 2011 08:43   

 

The promotional campaign, being called “The People’s Economic Movement,” is being orchestrated 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.”

 

Asked why the campaign is being called, “The People’s Economic Movement,” Radio One talk show host Warren 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.”

 

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