02/13/2026
For Black history month, we're highlighting pioneers in banking and finance. Our first honoree is Maggie Lena Walker (1864–1934), the first woman in the U.S. to charter a bank, and one of the foremost Black financial leaders of her time.
Born in Richmond, Virginia, Walker showed an aptitude for math and accounting from a young age. In 1903, she founded the St. Luke Penny Savings Bank to provide services to the Black community, who were often turned away from other banks. By the mid-1920s, the bank had assisted over 600 Black families in purchasing homes. St. Luke Penny eventually consolidated with two other institutions and is still in operation today.
Walker was also a lifelong humanitarian and civil rights activist. She served in leadership capacities with the Independent Order of St. Luke, the National Association of Colored Women (NACW), and the National Association for the Advancement of Colored People (NAACP).
Photo: National Museum of African American History and Culture
