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The Women's National Bank — a Successful Business Venture

The Women's National Bank — a Successful Business Venture DISTINGUISHED EDITORIAL The Women's National Bank - A Successful Business Venture EMILY H. WOMACH, Chair of the Board and President The Women's National Bank Why Is There "The Women's National Bank" in Washington, D.C.? In 1974 a professional woman applied for a loan at her bank and was turned down. She was certain she was qualified for the loan but she felt that she was treated unfairly. She felt she, and most likely others, had the realization of their ambitions swept away by the whim of a bank which did not treat all its customers equally. That evening she discussed her increasing consternation with friends, and they felt something should be done to fill this void in the financial community. They decided, as a group, they would take positive action to provide a banking climate of equality by opening their own bank, and they launched "The Committee to Form the Women's National Bank." What About The Committee? The Committee invited other people to join them, studied the requirements to apply for a charter, ordered a feasibility study, obtained an option on the lease of the space where the bank would be, and filed an application for a charter in http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png American Journal of Small Business SAGE

The Women's National Bank — a Successful Business Venture

American Journal of Small Business , Volume 5 (3): 3 – Jan 1, 1981

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Publisher
SAGE
Copyright
© 1981 SAGE Publications
ISSN
0363-9428
eISSN
1540-6520
DOI
10.1177/104225878100500303
Publisher site
See Article on Publisher Site

Abstract

DISTINGUISHED EDITORIAL The Women's National Bank - A Successful Business Venture EMILY H. WOMACH, Chair of the Board and President The Women's National Bank Why Is There "The Women's National Bank" in Washington, D.C.? In 1974 a professional woman applied for a loan at her bank and was turned down. She was certain she was qualified for the loan but she felt that she was treated unfairly. She felt she, and most likely others, had the realization of their ambitions swept away by the whim of a bank which did not treat all its customers equally. That evening she discussed her increasing consternation with friends, and they felt something should be done to fill this void in the financial community. They decided, as a group, they would take positive action to provide a banking climate of equality by opening their own bank, and they launched "The Committee to Form the Women's National Bank." What About The Committee? The Committee invited other people to join them, studied the requirements to apply for a charter, ordered a feasibility study, obtained an option on the lease of the space where the bank would be, and filed an application for a charter in

Journal

American Journal of Small BusinessSAGE

Published: Jan 1, 1981

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