At a time when racial prejudice was at an all-time high, Alabama Penny Savings Bank offered African-Americans something almost unheard of: their own bank. Founded by William Reuben Pettiford in 1890, the Alabama Penny Savings Bank was the first black-owned bank in the state. Even more, they were the second largest black bank in the country, offering African-Americans the money they needed to finance homes, businesses, and churches. Before Alabama Penny Saving Bank closed in 1915, at one time, they conducted business as high as a half million dollars. Worth a visit to see an important piece of black history.
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