port of harlem snippets

August 27 - September 9, 2004


Industrial Bank Celebrates 70th Year

Industrial Bank CakeIndustrial Bank, the Washington area's oldest and largest Black-owned financial institution,  celebrated its 70th birthday Friday, August 20 at its Historic U Street branch at 11th and U Streets NW.   Founder Jesse H. Mitchell opened the doors to the bank at that location on August 20, 1934.   Today, his great-grandson, B. Doyle Mitchell, Jr. is President and CEO of the bank.   TV and radio personality Kojo Nnamdi hosted the mostly outdoor ceremony where the bank revealed new products, services and a window display.

The bank will begin offering its more than 25,000 customers access to more than 25,000 ATMs across the country  - - surcharge free and Mitchell announced the bank's year long commitment to financial literacy. 

The bank is also offering a special 70th anniversary bonus rate CD.  On Friday, August 20, the three-year CD was paying 2.96 percent, with a yield of 2.98.

"Through the years, our commitment to this legacy of service has grown even stronger, and we are continuing our mission of providing convenient, personalized high-quality banking products and services to the communities we serve," said Mitchell, Jr.   A unique historic window display that reveals the history of the bank is on display at the U Street Branch.

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