Who was the first black woman bank president and what was the name of the bank she founded?

• A. Maggie Lee Walker, St. Luke Penny Savings Bank
• B. Mary McLeod Bethune, Bethune-Cookman Institute
• C. Oprah Winfrey, Harpo Financial
• D. Shirley Chisholm, Black Women's Bank

Answer: (A)

Maggie Lee Walker is notable for being the first black woman to serve as a bank president in the United States. She founded the St. Luke Penny Savings Bank in 1903 in Richmond, Virginia. This was a significant achievement at a time when women, particularly women of color, faced immense barriers in the business world and had limited opportunities to engage in banking and finance. Walker was not only a pioneer in banking but also a key figure in the civil rights movement, advocating for economic empowerment within the African American community. Her leadership of the St. Luke Penny Savings Bank provided financial services to those who were often denied access to traditional banks, emphasizing the importance of financial independence and community support.

The other individuals listed contributed greatly to education and politics but did not establish a bank or hold a position of bank president. Mary McLeod Bethune is known for her work in education and founding the Bethune-Cookman Institute, Oprah Winfrey is renowned for her media influence, and Shirley Chisholm made history as a politician and the first black woman elected to the United States Congress. However, none of them fulfilled the specific criteria of founding a bank and serving as its president.