She was also the first black woman to serve as a bank president.
Maggie Lena Walker was an African-American businesswoman and teacher who made history when she became the first woman to own a bank.
The bank known as \”The St. Luke Penny Savings Bank\” became a catalyst for economic advancement in the Black community.
At the St. Luke Annual Convention in 1901, she said spoke these powerful words; “First we need a savings bank. Let us put our moneys together; let us put our money out at usury among ourselves, and reap the benefit ourselves. Let us have a bank that will take the nickels and turn them into dollars.”
As a leader, Maggie Lena Walker achieved successes with the vision to make tangible improvements in the way of life for African Americans. For much of her life, she served as board member of the Virginia Industrial School for Girls.
On December 15, 1934, Maggie Lena Walker died from complications due to diabetes. Her house in Richmond has since been designated a National Historic Site by the National Park Service.
