Nov 5, 2021

Ornstein-Schuler Donates $25,000 to The National Black Bank Foundation

Today, Ornstein-Schuler Investments contributed a $25,000 donation to the National Black Bank Foundation (NBBF); a national organization working to close the racial wealth gap through the revitalization and expansion of the Black banking sector. Currently, Black banks and the Black community in this country face significant and costly barriers to accessing capital and building wealth; an inequitable condition resulting in those institutions and communities not being able to offer or access basic financial services, mortgage loans, business lines of credit, and other banking products. With just 18 Black banks nationwide, compared to 50 in 1976, and most of the Black banks being chronically undercapitalized, donated funds like those from Ornstein-Schuler will help the NBBF shift power and opportunity into the communities that need uplifting the most.

In response to Ornstein-Schuler’s support, Ashley Bell, co-founder of the NBBF, thanked the company for its contribution and stressed the immense work that needs to be done, saying, “We are thankful for Ornstein-Schuler’s commitment to raise awareness about the vital role that Black banks play in supporting an inclusive economy and racial wealth equity. With lenders denying mortgages to Black applicants at a rate that is 80 percent higher than whites and 49 percent of Black households being unbanked or underbanked, this support is as critical as ever. These equity gaps are immense and there is a lot of work to be done; participation and support from companies like Ornstein-Schuler is critical.”

On the company’s contribution, Frank Schuler, Co-Chief Executive Officer of The Ornstein-Schuler Group of Companies, said, “Ornstein-Schuler is committed to supporting greater inclusion, diversity, and equity in the communities where we do business and nationwide. Our company is proud to support the National Black Bank Foundation’s critical efforts and mission. As the NBBF works to provide legal, regulatory, and operational assistance to Black banks and to educate the public on this gap, it is our hope that today’s donation will help build Black banks and Black wealth, and we are thankful for NBBF’s important, much-needed, and long overdue work on this issue.”

To learn more about NBBF and their mission, visit

Learn more about the Ornstein-Schuler donation to the National Black Bank Foundation. (Business Wire)