Since 1934, Industrial Bank has delivered essential banking and financial services that have contributed greatly to the growth and development of the Washington, D.C. community. From that first day, when Industrial Bank had just six employees and $192,000 in assets, Industrial has grown to over 150 employees and over $333 million in assets. In addition to providing a full range of banking services, Industrial Bank works to create a vibrant local economy through public/private partnerships, banking education seminars and sponsorships.
Historically Black-owned banks have been a foundational pillar for the community by providing African Americans access to financial services and capital for businesses. Now, with movements such as #BankBlack, social media has brought awareness to the importance of banking Black and using our money to back these institutions. For those interested in making the shift over, Rolling Out recommends five high-performing black banks, including CDBA's Industrial Bank, OneUnited Bank, and The Harbor Bank of Maryland.
The DC Office of Cable Television, Film, Music, and Entertainment (OCTFME) has named Industrial Bank's U-Street location the city's Location of the Month. The designation promotes exemplary DC locales as prime settings for movie and television productions looking for filming locations. The bank recently underwent major renovations that helped it win this distinction, adds Melanee Woodard, Assistant Vice President of Industrial Bank, ""Now you can come in, sit down, have a complimentary coffee, talk with our team and experience all that comes with our service." Read more here.
As the successful re-entry of previously incarcerated citizens raises national focus, Industrial Bank seeks to become a leader in the movement. Recognizing the need for financial knowledge, at the beginning of 2018, Industrial Bank began financial literacy training within the walls of a DC Jail. By bringing awareness and financial knowledge to these communities, Industrial Bank hopes to support economic growth in their communities. "Industrial Bank's Financial Workshop ...was a much-needed resource to help our population build a pathway to the desired future that our young men want," said Earl J. Hollimon, DC Jail Program Analyst.