Greenwood Financial Group LLC is a financial technology company focused on providing banking services for Black and Latino individuals and business owners. Founded in 2020 by Ryan Glover, Paul Judge, and rapper Michael “Killer Mike” Render, Greenwood aims to address the historical lack of access to financial services and the persistent wealth gap experienced by these communities.
The company’s name is a tribute to the Greenwood District of Tulsa, Oklahoma, also known as “Black Wall Street,” which was a prosperous Black community destroyed in the Tulsa Race Massacre of 1921. This name underscores Greenwood’s mission to rebuild and empower Black and Latino communities through financial inclusion and wealth building.
Greenwood offers a range of digital banking services, including checking and savings accounts, debit cards, and peer-to-peer transfers. These accounts are designed to be accessible and affordable, often featuring low or no monthly fees. A key feature of Greenwood’s banking platform is its commitment to supporting Black and Latino-owned businesses. For example, users can round up their debit card transactions to the nearest dollar and donate the difference to organizations supporting Black and Latino communities.
Beyond basic banking services, Greenwood emphasizes financial literacy and education. The company provides resources and tools to help its members improve their financial knowledge and make informed decisions about saving, investing, and managing their money. This includes educational content, webinars, and partnerships with financial experts.
Greenwood partners with various organizations to further its mission. These partnerships often focus on providing financial education, supporting Black and Latino-owned businesses, and advocating for policies that promote economic equity. The company actively engages with community leaders and organizations to understand the specific needs of the communities it serves.
Greenwood faces the challenges inherent in the fintech industry, including navigating regulatory complexities and ensuring data security. Furthermore, building trust within historically underserved communities requires demonstrating a genuine commitment to their financial well-being and addressing past injustices in the financial system.
The company’s success will depend on its ability to effectively address the specific financial needs of the Black and Latino communities, build strong relationships with its members, and maintain its commitment to its core mission of financial empowerment. With its focus on community, financial literacy, and accessible banking services, Greenwood Financial Group seeks to play a significant role in closing the wealth gap and fostering economic opportunity for Black and Latino individuals and businesses.