Jesse Binga

Jesse Binga (April 10, 1865 – June 13, 1950) was a prominent American businessman who founded the first privately owned African-American bank in Chicago. After his bank failed in the Great Depression, Binga was eventually charged with embezzlement, a controversial prosecution in the African American community. Protests and public petitions helped lead to his early release. He was granted a full pardon in 1941.

Early life Binga was born in Detroit, Michigan, in 1865, the son of a barbershop owner and the youngest of ten children. He learned barbering, helped his mother to collect rents and made property repairs. Binga shrugged off these attacks and became even more popular amongst African-Americans and continued to prosper, attaining around 1200 property leaseholds. Binga founded a private bank in 1908, primarily for African-Americans, mainly because many banks excluded them.