Maggie Lena Walker (July 15, 1864 – December 15, 1934) was a Black American businesswoman and teacher. In 1903 she was the first Black woman to charter a bank and serve as its president in the United States. As a financial leader, Walker achieved successes by creating opportunities to make tangible improvements in the way of life for Black Americans. Disabled by paralysis and a user of a wheelchair later in life, Walker also became an advocate for people with disabilities. Walker was a member of the Independent Order of St. Luke’s, a Black American benevolent organization that helped the sick and elderly in Richmond, Virginia. She encouraged Black Americans in Richmond to harness their economic power by establishing their own institutions and personal wealth. The Penny Savings Bank opened in 1903. As an institution dedicated to the creation of Black wealth and financial independence Walker taught financial literacy and encouraged children to save their money by distributing thousands of “piggy banks”. While other banks collapsed during the Great Depression St. Luke’s Penny Saving Bank survived. The bank eventually consolidated with two other large banks and moved to downtown Richmond. It is still in operation today.
Walker's restored and furnished home in the historic Jackson Ward neighborhood of Richmond, Virginia was designated in 1975 as a National Historic Site, now operated by the National Park Service.
https://www.nps.gov/mawa/index.htm
The Joy Trip Project celebrates Women’s History Month. The Unhidden Minute is part of the Unhidden Podcast Project supported through a National Geographic Explorer Grant from the National Geographic Society, with the cooperation of the National Park Service. This series elevates the untold stories of Black American history.
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Maggie Lena Walker