Optus Bank was founded 100 years ago by visionary African American leaders who established Victory Savings and Loan to provide access to capital to individuals and business excluded from the banking system. Today, the bank is now called Optus Bank, but the focus remains the same. It is a community bank whose mission is to close the wealth gap created by systemic disparities in the financial industry.
Over the past three years the bank has more than tripled in size. In 2020, Bamk of America took a 5% equity stake in the bank, and in February 2021, Wells Fargo announced equity investments in six African American Minority Depository Institutions (MDIs) as part of its pledge to invest up to $50 million in Black-owned banks, including Optus Bank in Columbia.
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