FAQ About Maggie Lena Walker
What is the St. Luke Penny Savings Bank?
The St. Luke Penny Savings Bank was a financial institution founded by Maggie Lena Walker in 1903 in Richmond, Virginia. It was established with the goal of providing African Americans with opportunities for financial growth and stability. Under Walker's leadership, the bank thrived, offering savings accounts, loans, and other financial services to the black community at a time when segregation and discrimination limited their access to traditional banks.
