NOLA-based Liberty Bank receives major investment from JP Morgan Chase

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NEW ORLEANS—Liberty Bank and Trust Company, one of the largest African American-owned banks in the United States, has received a major investment. JPMorgan Chase has invested $10 million in capital as part of its $30 billion Racial Equity Initiative.

Alden McDonald, President and CEO of Liberty Bank(WGNO-TV)

Liberty’s President and CEO Alden McDonald told WGNO, The investment in Liberty is really an economic investment by Chase into the community which is part of their economic giveback to the community of color, all across the country. They’ve committed some 30 billion dollars to uplift the communities at large.”

Liberty Bank is in 9 states and 11 markets, and has been around for 49 years.

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