Addressing the persistent racial wealth gap

What is the racial wealth gap? According to the Federal Reserve, the typical white family has eight times the wealth of the typical Black family, and five times the wealth of the typical Hispanic family. This longstanding and substantial disparity is known as the racial wealth gap.

Financial institutions played a historic role in creating wealth inequality. We’re doing our part to help close the gap by acknowledging that history and using our expertise to build wealth in communities of color. This long-term work, which we call Access Commitment, focuses our efforts to support:

Individuals and famalies illustration

Individuals and families

Helping individuals and families with homeownership resources and enhancing career opportunities for employees and job candidates

Business and communities illustration

Businesses and communities

Supporting businesses owned by people of color by expanding financing opportunities and increasing supplier diversity

Our employees illustration

Our employees

Providing tailored development opportunities and career support for employees at all levels of our organization

Joanna’s story

Meet one of the many business owners we’ve supported through U.S. Bank Access Fund, which over three years will impact more than 30,000 women microbusiness owners by providing capital and technical assistance.

Measuring progress

We’re careful to listen before we take action. So we ask for stakeholder input and measure outcomes. To go a step further, we’re actively working with the Urban Institute to develop a strategy to measure more of our impact on people’s day-to-day lives.

The stories behind the work

Setting a goal to teach core concepts of building wealth

U.S. Bank climbs to No. 18 on DiversityInc Top 50 Companies for Diversity list

Building Black Wealth Q&A with Gunjan Kedia and Greg Cunningham