Community-owned banks can help fight economic inequality by providing financial services to historically excluded communities. 

Answer: 54

Questions:

1. How do banks help entrepreneurs and small businesses?
2. Why might someone want to use a bank owned by a person with a shared identity?
3. Do you think bank ownership creates equal opportunities for historically excluded communities? Why or why not?

 Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (from Business Insider)

"The first Hispanic American-owned banks in the mainland U.S. were established in the 1960s, one of the first being Centinel Bank of Taos.

Hispanic American-owned banks and credit unions were created to provide services to low-income and minority communities, particularly Hispanic American communities. Historically, Hispanic Americans have been affected by discriminatory lending practices like redlining, where loan services would be systemically denied for certain predominantly Black and Hispanic American neighborhoods, and experienced limited economic opportunities to build wealth.

Hispanic American banks were founded in areas where minority communities lived. These financial institutions were able to connect with their local communities and fill the banking gap by addressing areas like language and culture."

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Use the INTERACTIVE: Online Bank Simulator activity to help students navigate managing their money

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[Updated 9/9/25] 

About the Author

Kathryn Dawson

Kathryn (she/her) is excited to join the NGPF team after 9 years of experience in education as a mentor, tutor, and special education teacher. She is a graduate of Cornell University with a degree in policy analysis and management and has a master's degree in education from Brooklyn College. Kathryn is looking forward to bringing her passion for accessibility and educational justice into curriculum design at NGPF. During her free time, Kathryn loves embarking on cooking projects, walking around her Seattle neighborhood with her dog, or lounging in a hammock with a book.