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Sun, 02.23.1902

Mechanics Savings Bank opens

*On this date in 1902 we celebrate the founding of Black owned, Mechanics Savings Bank. 

 This was a depository institution in the Jackson Ward neighborhood of Richmond, Virginia.  John Mitchell, Jr. African American was its founder.  He also owned and edited the Richmond Planet. In 1905 the bank bought a three-story brick building at No. 310 East Broad Street. The bank's Clay Street and Third building was designed by architect Carl Ruehrmundand constructed in 1910. 

The bank was the chief depository of the Knights of Pythias. At the time of its failure in 1922, the bank had deposits totaling approximately $500,000. In 1930, the Clay Street Building was purchased by the Southern Aid and Insurance Company.  

To become a Financial Management Analyst

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New Poem Each Day

Poetry Corner

A closed window looks down on a dirty courtyard, and black people call across or scream across or walk across defying physics in the stream of their will. Our world... KA ‘BA by Amiri Baraka.
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