Maggie L. Walker

Maggie Lena Walker ( born July 15, 1867 in Richmond ( Virginia), † December 15, 1934 ) was an American teacher and manager. She was the first woman in the United States who founded a bank, as well as the first African American woman who ran a banking house.

Life

The African-American Maggie Walker was the daughter of newspaper correspondents Eccles Cuthbert and his wife Elizabeth Draper, a former slave and later a cook in the household of a wealthy family. Maggie Walker attended the Lancaster School and trained as a teacher. After she received her diploma in 1883, she taught for three years. In parallel, she studied accounting at night school. Walker was active in the Grand United Order of St. Luke, an organization that advocated for the rights of African Americans. After an election in the leadership of the debt organization, she was responsible for finance in 1899. Through their involvement in the following years, succeeded Walker, to help the organization succeed financially and nearly 100,000 members, among others through the establishment of an insurance and the publication of a newspaper.

Maggie Walker dreamed early on by a bank, which belongs African Americans and led by them. Encouraged by their awareness and experience gained, she founded for the Grand United Order 1903, the St. Luke Penny Savings Bank and fulfilled her dream. The aim was, even though there were only small amounts (as the name already says Penny Savings Bank ) to bundle the scale of African Americans money, and lend, so the blacks deserved even on the interest. Maggie Walker was the first woman in the United States who founded a bank, as well as the first African American woman who ran a banking house. Chaired Walkers, the Bank further remained successful even after the adoption of a law in 1911, which was the separation of banking and Grand United Order a result, and after merging with two other money homes in African- American-owned 1930. Since the unification of the three banks 1930 carry the gold home the name Consolidated Bank and Trust Company and has remained continuously on the market.

As a well-known and influential person of the economy succeeded Walker, to achieve improvements in living conditions for women and African Americans, which always was one of her visions. Since she was confined to a wheelchair due to a plegia towards the end of her career, she also served many people with disabilities as a model. Furthermore, they worked as a philanthropist and benefactor. Maggie Lena Walker worked until her death on December 15, 1934 in the leadership of the Order of St. Luke and the Bank.

Family

Maggie Walker in 1886 she married Armstead Walker and was mother of three sons. One of her sons died already as an infant. 1915 Russell accidentally shot her son his father Armstead, whom he regarded as a drifter and burglar. Although Russell Walker was acquitted in a subsequent trial, he coped with the accident and never died after a prolonged depression and alcoholism some years later. Some members of the St. Luke Order feared due to the circumstances of her husband's death and because of the reporting negative consequences for the organization and asked Maggie Walker to resign from their posts, but this was no majority within the organization due to the successful work of Walker.

Maggie Lena Walker House

The home of Maggie Walker in Richmond, known as Maggie Lena Walker House ⊙ 37.547722222222-77.437388888889 was added to the National Register of Historic Places because of the importance Walkers in 1975 and since then has been one of the National Historic Landmarks in Virginia. The building in the area known as Jackson Ward gives an insight into the life and work of Walker. It still contains the original furnishings and a museum.