Bank of Jabez, Iowa’s only black-owned bank, is looking to attract more black investors to help expand its operations and impact on the community.
The Bank of Jabez was founded in 2018 by its current CEO, Johnathan H. Holifield, with the goal of promoting economic empowerment and financial literacy in Iowa’s black community. According to Holifield, the bank has already made significant progress in achieving its mission, but he believes that increasing the number of black investors will be crucial for its continued growth and success.
Holifield explained that black investors are particularly important for the Bank of Jabez because they share the bank’s values and understand the challenges faced by the black community. He also noted that black investors are often more likely to reinvest their profits in the community, which can have a multiplier effect in terms of creating economic opportunities and improving quality of life.
To attract more black investors, the Bank of Jabez is using a variety of strategies, including social media campaigns, community events, and targeted outreach to black business leaders and entrepreneurs. The bank is also partnering with other organizations that share its mission, such as the National Black Bank Foundation and the Iowa Juneteenth Observance.
The Bank of Jabez has ambitious plans for the future, including opening more branches in other parts of Iowa and expanding its range of financial services. Holifield believes that by working together with black investors and other community stakeholders, the bank can help create a more equitable and prosperous future for all Iowans.