U.S. Bank Access Commitment Advisory Group kicked off in March and is composed of Black business and community leaders.
MINNEAPOLIS – U.S. Bank has announced the creation of its first ever advisory group to help support its commitment to increasing Black wealth through the U.S. Bank Access Commitment™ initiative.
U.S. Bank Access Commitment was created as a long-term approach to increase wealth building opportunities, redefine how diverse communities are served, and provide more opportunities for diverse U.S. Bank employees. This includes initiatives that support businesses owned by people of color and helping individuals and communities of color advance economically.
The U.S. Bank Access Commitment Advisory Group was launched to help increase transparency and accountability with diverse segments of the local Black community in the Twin Cities. The U.S. Bank Access Commitment Advisory Group will be led by Greg Cunningham, Senior Executive Vice President, Chief Diversity Officer at U.S. Bank.
“U.S. Bank Access Commitment was created to address the persistent racial wealth gap,” said Cunningham. “We are excited about the progress so far and look forward to sharing these wins with the community. It’s critical that we create avenues for the community to provide input into our efforts so that we can drive outcomes and not just activity. Our ability to listen and learn before taking action is an essential component of our Access Commitment.”
“We’ve surpassed many of our initial goals since June 2020,” he added. “This includes a $100 million annual commitment to Black-owned and -led businesses as well as $15 million that has been distributed to more than 70 nonprofit organizations nationally. “We’re now shifting our focus towards three primary areas 1) investing in the career advancement of our employees; 2) investing in individuals and families; and 3) investing in businesses and community.”
Said U.S. Bank chairman, president and CEO Andy Cecere: “Our goal is to create a roadmap here in the Twin Cities for how U.S. Bank can authentically engage with the community and to replicate this in other markets. We recognize the impact we’ll have on families and the economy as a whole when we succeed at increasing Black wealth across the board.”
There remains, however, much work to be done.
“The reality is, the racial wealth gap between Black and white Minnesotans has not changed, despite laudable efforts,” said Advisory Group member Tawanna Black (Founder, President, & CEO, Center for Economic Inclusion). “The disparities in homeownership and employer businesses are particularly alarming. I look forward to working closely with a financial institution that has the resources, influence and commitment needed to make impactful change.”
Members of the U.S. Bank Access Commitment Advisory Group include: Rev. Alfred Babington-Johnson (Executive Director at Stairstep Foundation), David McGee (Executive Director at Build Wealth) Tabitha Montgomery (Executive Director at Powderhorn Park Neighborhood Association), Adair Mosley (President & CEO of Pillsbury United Communities), Audra Robinson (Founder & CEO of Rocky Robinson), Sharon Smith-Akinsanya (Founder & CEO, Rae Mackenzie), Tawanna Black (Founder, President, & CEO, Center for Economic Inclusion), Renay Dossman (President, Neighborhood Development Center), Warren McLean (President, Northside Economic Opportunity Network), Dr. Artika Tyner (Director, Center on Race, Leadership and Social Justice, University of St. Thomas School of Law) and Henry Rucker (Lead Homeownership and Financial Coach, Project for Pride and Living).
The first Access Commitment Advisory Group meeting was held on March 16, at U.S. Bank headquarters in Minneapolis.
For more information on U.S. Bank Access Commitment visit usbank.com/diversity.
About U.S. Bank
U.S. Bancorp, with nearly 70,000 employees and $587 billion in assets as of March 31, 2022, is the parent company of U.S. Bank National Association. The Minneapolis-based company serves millions of customers locally, nationally and globally through a diversified mix of businesses: Consumer and Business Banking; Payment Services; Corporate & Commercial Banking; and Wealth Management and Investment Services. The company has been recognized for its approach to digital innovation, social responsibility, and customer service, including being named one of the 2022 World’s Most Ethical Companies and Fortune’s most admired superregional bank.
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