That's 12 News this morning, starting at 430. 12 News celebrates Black History Month as Wisconsin's oldest black-owned bank celebrates its 100th anniversary in Milwaukee. In tonight's Project, Community 12 News' Jeron Jordan shows why we can't appreciate banks' impact on communities over the past century. This old building at the intersection of 20th Street and Fond du Lac in Milwaukee has a storied history just like its neighbors. It was Walnut Way, it had Halyard Park, it had Brownsville. These were strong and prosperous African American enclaves in the central city of Wisconsin, founded on September 24, 1924 by He RT and Wilbur He Halyard. Columbia Savings and Loan Association Fills a Big Hole As you can imagine, black-owned businesses in the United States, much less black-owned banks, were not welcomed. The reason you started this way is because they understood that at that time we did not have access to funds from regular banks and financial institutions in the country. In fact, it was the only place we gave him. Mackenzie. loan. Currently, his grandson is the vice president of the bank. For me personally, it means being able to work for the same financial institution that my great-grandfather used to get loans when he couldn't go to multiple banks and get loans. For me, that is an irreplaceable part of what you had. Al Smith and Miller were here too, and PABST and African Americans graduated from high school, got jobs in factories, and raised families. And the factory left. And it changed the economic landscape not just for Milwaukee, but especially for black Milwaukee. When we talk about Black financial literacy, what do you think people don't understand when we talk about its history and its hurdles? But I think that's the first problem that people have to overcome. I often hear stories about grandma having the money for this mattress, or just keeping the money somewhere in a coffee can. Because one day they went to the bank and were told, “No, we don't have any money.” These things actually happen. The same goes for when your grandmother or grandfather or uncle or aunt is present. I'm telling you, don't put your money in the bank. Because one day the money will no longer work for you. Because it's their personal experience. It leads to and leads to generational mistrust. A time when black families weren't allowed to buy homes for years and years. And certain areas redlining and growing by imitating it. It is very disappointing. Many of us watched our parents rent, so we emulate them. Many people in our community were renting. So we emulate that. Is that something you guys are still working on? yes. and fix it. How do you do that? Even now, it's one thing each day. of course. We understand that we need to bring our customers here and help them understand the importance of financial literacy. The bank celebrates its 100th anniversary this year, making it one of the oldest banks in the state and one of only 41 Black-owned banks in the nation. The way we studied Black Wall Street in Tulsa, Oklahoma. I hope someday people learn about Columbia Savings and Loan in Milwaukee, Wisconsin. And what happened to not only change that city, but change the way finances are handled and viewed in the country and in our communities. What would you do mister? Halyard say today? What will he do 100 years after he founded this institution? I hope he will say, “Good job.” I hope he is impressed. The number one thing I want him to say is, “Just keep going.” It's a motivation that says, “I know, you did your best, keep going.'' We're doing the right thing in Milwaukee. I'm Jeron Jordan Whisen 12 News.Bank plans to hold O number
Black History Month: This Black-owned bank celebrates its 100th anniversary
Updated: February 2, 2024 9:44 PM ET
The old building at the intersection of 20th Street and Fond du Lac Avenue in Milwaukee has a history as long as the neighborhood it represents. “There was Walnut Way, there was Halyard Park, there was Bronzeville,” Wesley McKenzie said. “These were strong, prosperous African American neighborhoods in the central cities of Wisconsin.” Founded on September 24, 1924 by Ardy and Wilbur his Halyard, the Columbia Savings and Loan Association filled a large void. I filled it. “You can imagine that in the United States, not just black-owned banks, but black-owned businesses were not welcomed,” McKenzie said. “The reason the Halyards started this scheme was because they understood that at that time we didn't have access to money through regular banks and financial institutions,” said Mr McKenzie, the bank's new vice-president. However, the bank was one of the only banks to voice its opinion. His great-grandfather took out a loan decades ago. “Personally, being able to work at the same financial institution that my great-grandfather used to receive loans at a time when most banks couldn't go to most banks and get loans is an irreplaceable part for me.” He said. When the Halyard family founded the bank in his 1924 year, it was difficult for blacks in Milwaukee to bank or obtain loans from U.S. financial institutions. “I often hear stories about grandma having this 'mattress money' or just putting the money in a coffee can somewhere.” It's because one day they go to the bank and say, “I don't have the money. McKenzie said. “These things really happened. That's why your grandmothers and grandfathers and uncles and aunts say, 'Don't put your money in the bank, because one day you'll run out of money,' that's because they experienced it. So, it's driven by intergenerational mistrust.'' These seeds of intergenerational mistrust are what MacKenzie is working to address. “It’s one day at a time,” he said. “We understand that we have to bring our customers here and demonstrate the importance of financial literacy.” This year, the bank celebrates its 100th anniversary. It is one of the oldest banks in the state and one of only 41 black-owned banks in the nation. “Just as we study Black Wall Street in Tulsa, Oklahoma, someday people will study the Columbia Savings and Loan System in Milwaukee, Wisconsin, and discover that it not only changed a city, but also changed a nation and its finances. When asked what the Halliards would say in 100 years, Mackenzie said: “I hope he says, ‘Well done.’ I hope he’s impressed,” McKenzie said. “The thing I want him to say the most is just keep going. The motivation is, 'Keep going, you're doing the right thing.'”
The old building at the corner of 20th Street and Fond du Lac Avenue in Milwaukee has a history as long as the neighborhood it represents.
“There was Walnut Way, there was Halyard Park, there was Bronzeville,” Wesley McKenzie said. “These were strong, prosperous African-American neighborhoods in central cities in Wisconsin.”
Columbia Savings and Loan Association, founded by Ardie and Wilbur Halyard on September 24, 1924, filled a large void.
“You can imagine that in the United States, not just black-owned banks, but black-owned businesses were not welcomed,” McKenzie said. “The reason the Halyards started this scheme was because they understood that at that time we did not have access to funds from regular banks and financial institutions.”
Mr. McKenzie is the new vice president of the bank, one of the few that made loans to his great-grandfather decades ago.
“Personally, being able to work for the financial institution that provided my great-grandfather with loans at a time when most banks were unable to obtain loans is an irreplaceable part for me.” He said.
When the Halyard family founded the bank in 1924, it was difficult for black Milwaukeeans to bank or obtain loans from U.S. financial institutions.
“I often hear stories about grandmas having “mattress money'' or putting money in a can of coffee and keeping it somewhere. 'You can't do that,'” McKenzie said. “These things really happened. That's why your grandmothers and grandfathers and uncles and aunts say, 'Don't put your money in the bank, because one day you'll run out of money,' that's because they experienced it. So, it has a negative effect on intergenerational mistrust.”
MacKenzie is working to address this generational mistrust.
“It’s one day at a time,” he said. “We know we have to get our customers here and show them the importance of financial literacy.”
This year, our bank celebrates its 100th anniversary. It is one of the oldest banks in the state and one of only 41 black-owned banks in the nation.
“Just as we study Black Wall Street in Tulsa, Oklahoma, someday people will study the Columbia Savings and Loan System in Milwaukee, Wisconsin, and discover that it not only changed a city, but also changed a nation's finances. “I hope you learn that we have changed the way things have been processed and considered in our community,” McKenzie said.
When asked what the Halliards would say in 100 years, Mackenzie said:
“I hope he says, 'Good job.' I hope he's impressed,” McKenzie said. “The thing I want him to say the most is just keep going. The motivation is, 'Keep going, you're doing the right thing.'”
