A group representing 25 black churches and their 15,000 members says it has formed a partnership with a Tri-State bank with the goal of boosting their financial clout.
The Cincinnati Chapter of the Collective Empowerment Group (CEG)is partnering with CenterBank of Milford, Ohio, according to CEG President Eugene Ellington.
The ultimate goal, Ellington said, is to create more favorable lending practices for black churches and their members.
The Cincinnati Chapter of CEG was formed in 2008 as a result of discriminatory practices by banks that prevented minorities from having equitable access to services, it says.
“For CEG, the opportunity is to leverage the economic power of minority churches and the minority community in support of community growth and development,” Ellington said.
“Identifying a financial institution which will work with churches, business and the minority community-at-large engages each and moves them toward self-sufficiency.”
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SOURCE: WCPO
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