Maggie Walker: 1st U.S. Woman Bank Founder


© Maisah B. Robinson, Ph.D.
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Maggie Lena Mitchell Walker was born on July 15, 1867 in Richmond, Virginia. Her mother, Elizabeth Draper Mitchell, was born a slave and freed before the Civil War ended. Maggie's father was Eccles Cuthbert, a white man who was a writer and abolitionist. Maggie's mother married another man, William Mitchell, a mulatto, before she was born. After the death of her stepfather, Maggie assisted her mother, who worked as a laundress, and cared for her brother.

When Maggie was eleven years old she was baptized at the First African Church. She became a Sunday school teacher. When she was fourteen, she joined the Grand United Order of St. Luke. The Order was an African-American fraternal and cooperative insurance society, which was founded in Baltimore, Maryland in 1867. The Order was founded by Mary Prout, a former slave, who established headquarters in Richmond in 1889. The Order was established to assure burial arrangements and health care for its members. It promoted racial solidarity and self-help programs. The Order provided aid for people in need. In addition to working at the Order of St. Luke as a volunteer, Maggie attended the Lancaster School and then the Armstrong Normal School. She received her diploma in 1883 with honors. After graduation, she worked for the Women's Union as a part time insurance agent, and studied bookkeeping at night school.

In 1883, she became a teacher at her alma mater, Lancaster School, and taught there for three years. While teaching she continued to work for the Women's Union, volunteer at St. Luke and study accounting at night school. On September 14, 1886, Maggie married Armstead Walker, a building contractor. They had three sons, one of which died in infancy.

In 1899, the thirty-second annual convention of the Grand United Order of St. Luke was held in Hinton, West Virginia. Walker had worked her way up the ranks of the Order and was elected Right Worthy Grand Secretary-Treasurer at the convention. The Order was renamed the Independent Order of St. Luke. Because the order was in debt, she served in the position at one-third the salary, receiving eight dollars a month. Walker was responsible for implementing successful programs for the Order, causing it to progress. She traveled to organize councils and encourage new people to join. Her speaking ability became her trademark. As a result of her business acumen, the Order became financially successful. The business consisted of an insurance component, a printing press, a newspaper and an Educational Loan Fund for college students. She also organized the Juvenile Branch of the Order. When speaking at Juvenile Society meetings, Walker would encourage the youth to save money. A special day was set aside called Sunshine Day on which the youth sent out a ray of sunshine by visiting the sick or taking food to a needy family. She established an Order newsletter called the "St. Luke Herald." The newsletter devoted a section to children, where their articles, stories, and poems were featured. By 1922, the death claims of the insurance department were nearly $1 million. By 1924, the Order had 50,000 members, 1500 local chapters and assets of almost $400,000.

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