Wednesday, February 7, 2018

From Self-Help - Seaway Bank: A Legacy of Empowerment

[VIDEO] Believe it or not, it has been over one year since Seaway National Bank (aka Seaway Bank & Trust Company) failed and was purchased originally by State Bank of Texas in an FDIC orchestrated auction. Thankfully the new owners Self-Help FCU honors the legacy of the former Black-owned lender in this video.

The above Self-Help video also shows the various people who were a major part of Seaway's History. Moses Profit, Ernest T. Collins, Jacoby Dickens, George Jones, Dr. James Buckner. There's also an appearance by one of the former owners of Milwaukee's Legacy Bank - Margaret J. Henningsen. Legacy Bank was also taken over by Seaway Bank in 2011 via an FDIC orchestrated auction.

Also we see interviews with Josephine Wade of Captain Hardtimes restaurant, Joseph Caldwell of Tailorite, Eli Washington of Chesterfield, Ed Calahan of Calahan Funeral Home, and Victor Love community activist. All of those names are either Seaway Bank customers or had served on a Seaway board - if not on the board of directors of Seaway Bancshares which had been the holding company.

Of course the story ends ultimately with Seaway being bought by State Bank of Texas and then - in an effort to preserve the history and legacy of Seaway Bank - branches and customer deposits were purchased by Self-Help. Great documentary of at one point a very significant financial institution.

BTW, I got wind of this via an ig post from Self-Help and through a Google search found the video you see above. You can find more of our posts about Seaway Bank here. You can also see more of Self-Help stories from their vault here.

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Joe Zekas R.I.P.

 Joe Zekas ran the real estate news website YoChicago . If you have been following that site and their social media channels i.e. YouTube o...