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1962 - M & F Bank Opens

March 1, 1962 - M & F Bank, NC's first black run bank, opens a branch at 101 Beatties Ford Rd [1].

  • When Mechanics & Farmers Bank opens on Beatties Ford Road, it is the first bank in Charlotte located in the black community and managed by African Americans.
  • On its first day of operation, the new bank accepts $600,000 in deposits from businesses and individuals.
  • Mechanics & Farmers Bank vice-president A.E. Spears watches as Charlotte mayor Stan Brookshire makes the new bank's first deposit of $100,000 of city money.
Event Date: 
March 1, 1962
Event Type: 
Turbulent Times 1960-1979
Exhibit & Section: 
African American Album Volume 2 [2]
Main Image: 
A.E. Spears and Stan Brookshire
main office of Mechanics & Farmers Bank at 101 Beatties Ford Road
Node Order: 
590
Tags: 
African American Album 2 - Events Timeline [3]
This node displays related exhibits: 
No
Event Date Field: 
Saturday, December 23, 2017
Date of Event:

Source URL:https://www.cmstory.org/exhibits/african-american-album-volume-2/1962-m-f-bank-opens

Links
[1] http://dev-cmstory.pantheonsite.io/sites/default/files/images/59a.gif [2] https://www.cmstory.org/exhibits/african-american-album-volume-2 [3] https://www.cmstory.org/tags/african-american-album-2-events-timeline