Maggie Walker: 1st U.S. Woman Bank Founder
Walker's renovations, expanded to 25 rooms. Maggie's mother lived with her in her elegant home until her death on February 12, 1922. Maggie's son, Russell, never recovered from the accidental shooting of his father and after long bouts of depression and excessive drinking, he died on November 23, 1923.
In 1908, Walker injured her kneecap and was confined to a wheelchair. She installed an elevator in her house and had her car adjusted to accommodate the wheelchair. Maggie Lena Walker died on December 15, 1934 in Richmond, Virginia. Her house, located on East Leigh Street is a Maggie L. Walker National Historic Site. The house was purchased in 1979 by the National Park Service and contains the original furnishings and family memorabilia. Maggie Walker School in Richmond is named in her honor.
The St. Luke Penny Savings Bank still exists today as the Consolidated Bank and Trust Company, the oldest continuously operating minority-owned bank in the United States. The bank has assets of over $116 million. According to Chairman and Chief Executive Officer of Consolidated Bank and Trust, Vernard W. Henley, " I think what she (Maggie Walker) had in mind was that African Americans ought to help themselves, and they ought to provide the opportunities for employment and development." Walker's philosophy is still upheld by the Bank she founded.
Latest Articles