1 min read
Posted on 02.28.16
  • 1 min read
  • Posted on 02.28.16

Tomorrow will mark the formal return of the Gateway banking name to the city in the form of the new St Louis Community Credit Union Gateway Branch.

Back in 1965, there wasn’t a single minority-owned commercial bank in all of Missouri.But Gateway Bank changed that.A group of African-American businessmen opened a truly community-centered enterprise, and, for more than 40 years, Gateway Bank brought vital financial services to this neighborhood.Even more, it invested in the success of the people it served.

Now, it will be doing so once again.

Access to banking is important.Without the ability to open a checking account, build savings, or get a loan for a car or a home, it’s hard to achieve upward mobility and get on a path to stable economic prosperity.

A community-centered bank also strengthens the neighborhood.It helps people create and protect wealth, and then take that wealth and reinvest in the people and places around them.

The City is proud to have contributed $700,000 in Community Development Block Grant funding to support Gateway Bank -- both in the physical construction and also in financial assistance to provide financial literacy education to the community.