...we’re taking a moment to reflect on many of the important contributions women have made to society. At PrimeWay Federal Credit Union, we’re proud to be a part of the nationwide celebration of women. As part of this effort, we’d like to take time to recognize a few important women in the history of finance and entrepreneurship.
Here are five lesser-known and underappreciated women who are sometimes left out of the popular economics conversation. That, of course, does not diminish the importance of their trailblazing efforts and work.
Maggie Lena Walker was the first woman to charter a bank. The St. Luke’s Penny Savings Bank was a community lending institution designed to promote savings and homeownership, especially among women and racial minorities. Founded in 1902, the bank served the Richmond, Virginia area for several years before it merged with two other banks. Walker went on to serve as chair of the board for the consolidated bank.
By 1920, St. Luke’s had helped more than 600 people buy homes. Walker’s vision and leadership set the standard for community lending institutions. Her bravery and trailblazing business spirit, at a time when women didn’t yet have the right to vote, is truly commendable.