The Banks We Deserve: Reclaiming Community Banking for a Just Economy

Journalist Abello’s (senior economic justice correspondent, Next City) book expresses concern about the state of the U.S. banking industry. He demonstrates not only that there has been a significant decrease in the number of community banks and credit unions in the U.S. over the years, but also that relatively few of them provide many loans to people of color or to those with lower economic means. Abello argues that the number of these types of banks must increase, especially since they were developed to help the people and businesses in their direct surroundings. The book tells the stories of a number of community banks and credit unions. For example, there’s Adelphi Bank in Columbus, OH, which opened in 2023, making it the first new Black-owned bank in the U.S. since 2003. Adelphi Bank demonstrates how it has prioritized developing underserved Black communities with efforts such as awarding loans to a number of developers building affordable housing in that area.