BasBlue, a nonprofit space dedicated to creating pathways and opportunities for women, opened its doors in October 2021. Today, it is a community of nearly 700 women, 60% of whom live in the City of Detroit. Now, BasBlue is launching its next chapter: The BasBlue Foundation. The Foundation’s initial goal is to raise $2 million before the end of 2023 to support fellowships and opportunities that empower women and girls by providing tools and resources to support their education, careers and increase their access to capital. Thanks to
MassMutual Great Lakes and First Independence Bank Announce Strategic Alliance Expanding Insurance And Investment Access
MassMutual Great Lakes (MMGL), a Southfield-based firm offering a wide range of financial products and services, is pleased to announce a strategic alliance with Detroit-based First Independence Bank (FIB), the only African American-owned bank headquartered in Michigan and the 7th largest in the country. The alliance will enhance FIB’s ability to provide comprehensive financial services to its retail and commercial clients in Detroit and nationwide, many of whom have been historically underrepresented when it comes to accessing these services. “At MassMutual Great Lakes, we believe every individual, small business
NBA Star Chris Paul Launches Month-Long Initiative to Draft One Million Kids Into a Path of Financial Freedom and Generational Wealth.
NBA Star Chris Paul and Goalsetter, a Black-owned kids and family finance app that provides a next-generation, education-first banking experience for U.S. kids and teens, today announced a full-court press initiative to “draft” 1 Million Black and Brown kids to become the next generation of savers and investors, kicking off during Black History Month. The initial round of the “Drafted” campaign will tip off on February 1 with NBA star and NBPA president Chris Paul “drafting” 100 kids who participate in his Club 61 Leadership Alliance from his
NNPA NEWSWIRE — JPMorgan Chase announced new long-term commitments to advance racial equity. The firm will harness its expertise in business, policy and philanthropy and commit an additional $30 billion over the next five years to provide economic opportunity to underserved communities, especially the Black and Latinx communities. Structural barriers in the U.S. have created profound racial inequalities that have been exacerbated by the COVID-19 pandemic. The existing racial wealth gap puts a strain on families’ economic mobility and restricts the U.S. economy. Building on the firm’s existing
by Damon Carr You panic when there’s news of a down market. You assume that your investment portfolio is doing well when there’s news of a thriving economy. You may be one of those people that shy away from investing or you invest ultra conservatively because you’re afraid that you’ll lose all your hard-earned money. You may be one of those people who hired an investment advisor and hope that the advisor is leading you in the right direction. I’m not going to give you a hot stock tip.
Accenture has created the Black Founders Development Program to aid Black entrepreneurs, especially Black tech startups. According to a statement released by Accenture, the program is designed to "advance and grow technology businesses through greater, more direct access to venture capital, corporate mentorship, and strategic connections with Accenture’s business partners, clients, and people." They are aiming to increase Black access to wealth and fuel the next great innovators. "Black entrepreneurs continue to innovate but face bias and lack access to capital and opportunity in the venture capital community,
Commune Angels, the first Michigan-based angel community focused on regional and national deal flow and increasing diversity amongst angel investors, has launched. They look to invest in scalable consumer, enterprise, and life science companies led by founders from all backgrounds, identities, and walks of life. According to the 2017 American Angel Report, only 6% of angel investors in the U.S. were Asian, 2% Hispanic, and 1% Black. Only 22% of angel investors were women. Expanding the pool of angel investors and reach of investment dollars are critical ingredients