We believe that better banking creates stronger communities and a better world.
While the share of unbanked households in the U.S. dropped to a record low in 2024, one out of three Black...
With features embedded directly in accounts, parents can more easily prioritize financial literacy and money management skills for their kids With...
In this special guest episode of the Believe in Banking podcast, Gina and Juliet welcome Al Dominick, Partner with Cornerstone Advisors,...
Monthly Round-Up
Believe in Data
Sharing Successes
While the share of unbanked households in the U.S. dropped to a record low in 2024, one out of three Black households remain unbanked, according to the FDIC. This data spotlights persistent racial disparities in the banking system, where Black households are “more than five times as likely to be unbanked and more than twice as likely to be underbanked, compared to white households,” as outlined by Banking Dive. The most likely racial group to face such steep barriers to banking, Black Americans experience a disproportionate impact on economic opportunities available to them and their communities.
To address a racial gap in financial services, Black banks were formed, and their numbers were on the rise through the mid-1970s, when 50 such institutions could be found across the country. Today, that number stands at 23 Black-owned and run banks and savings institutions. “If we make the assumption that Black owned banks are more likely to provide credit on reasonable terms to Black clients, then their absence is really important in the context of a situation in which black people are confronted with discrimination in credit markets,” says William Darity, professor of economics at Duke University, in Mashable’s article on black banking.
Read more about the positive impact black banks are having on communities of color.
Data You Can Use
Of employees in banking and financial services are women
The Story:
As women continue to make gains in the banking and financial services sector, their leadership is already being felt across their teams with notable wins and innovative solutions for their institutions. But despite their majority positions in entry and mid-level roles at financial institutions, women’s representation still lags behind at the upper management levels of their organizations. McKinsey & Company’s “Women in the Workplace” report finds that women hold less than one-third of senior vice president and C-suite positions in banking. Even more, the gender wage gap tends to widen the higher up the ladder women climb. But influential women in banking have some ideas for making meaningful change.
The Takeaway:
According to Adrenaline’s Celebrating Women in Banking, organizational change will help with onboarding women at all levels. “I believe the banking industry can do better in identifying high-potential woman leaders and empowering their confidence and skill development,” says Melanie Alves, VP of Specialty Branch & Merchandising Support at PNC Bank, quoted in the article. “I have been in banking for 17+ years in seven different job roles, and each one has given me the opportunity to work for a dynamic woman leader.” Women who break through barriers themselves are leading the way for others, according to Deborah Lumpkin, Centier Bank’s Senior Partner. “Significant female leaders have paved the way for future generations to achieve leadership positions in the industry.”
Source: Investopedia, “Why Are So Few Women in Finance? It’s Complicated,” February, 2025, McKinsey & Company, “Women in the Workplace,” September, 2024, and Adrenaline, “Celebrating Women in Banking,” March, 2024
Stay Tuned
Listen in to the Believe in Banking podcast, our award-winning monthly series for decision-makers, influencers, and industry leaders. The podcast explores what’s on banking’s radar through compelling conversations with hosts Gina Bleedorn and Juliet D’Ambrosio.
Stay Engaged
Follow us to keep up with the latest content from Believe in Banking and Adrenaline. We’ll help you stay informed with the latest banking industry trends, data you can use, actionable insights, expert thought leadership, new podcast episodes, and so much more.