https://www.uppermichiganssource.com/prnewswire/2023/02/28/black-investor-group-redemption-holding-company-makes-historic-acquisition-non-minority-commercial-bank/?outputType=amp

From the article:

"SALT LAKE CITY, Feb. 28, 2023 /PRNewswire/ -- Redemption Holding Company ("RHC") announced today its agreement to purchase Utah-based Holladay Bank and
Trust, marking the first time in American history that an existing commercial bank would become a Black-owned Minority Depository Institution ("MDI") through
acquisition. RHC will become the only Black-owned bank serving the Mountain West pending federal regulatory approval.

Former White House Policy Advisor and Small Business Administration Regional Administrator Ashley D. Bell will serve as RHC's executive chairman and chief
executive officer. Dr. Bernice A. King, the daughter of the late Dr. Martin Luther King, Jr. and Coretta Scott King, will serve as the bank's senior vice
president of corporate strategy and alliances and also sit on its advisory board alongside director, co-founder, former NFL player and investor, Dhani
Jones. Bell and King previously co-founded the National Black Bank Foundation, which has steered $600 million of deal flow into Black banks since 2020.

"Black banks make the American dream possible for all Americans by deploying resources that uniquely address the financial realities of communities that
have been systematically excluded, overcharged, and under-capitalized for hundreds of years," Redemption Holding Company CEO Bell said. "Redemption will
serve as a lifeline to the next wave of Black and Brown first-time home buyers and small business entrepreneurs across the country."...

...In 1976, 50 Black-owned banks were spread across the United States, each working to inject capital and opportunity into disadvantaged and underbanked communities.
As of 2020, there were only 18 Black-owned banks still operating; two years later, just 16 remained, according to the FDIC. Redemption will become the
17th Black-owned bank, playing a leading role in ending decades of retrenchment by capital-starved Black banks.

"In my father's last public address on April 3, 1968, he preached the imperative to accelerate the financial inclusion of Black Americans by supporting
mission-driven Black banks—something he called a 'bank-in movement,'" Dr. Bernice King said. "More than half a century of struggle and incremental progress
later, we're making good on daddy's call to bank-in by creating new centers of opportunity for people of color, starting with this Black-led bank acquisition.
Redemption is just that: delivering families from the cycle of unjust financial exclusion and intergenerational poverty.""

While I applaud the purchase, Brigham Young ought to be rolling over in his grave right about now...

Using money for the public good. Love!

I'm not being sarcastic or funny here. Seriously, if the LDS keep growing in Africa there is a business opportunity there for this bank or others similar to it? Maybe they can beat there old white Mormon leaders at their own game?

Disclaimer: I prefer Credit Unions over banks.