Seaway News

Seaway Bank and Trust Company commemorates 50 years of serving Chicago, prepares for continued success

CHICAGO – (Jan. 5, 2015) --
Seaway Bank and Trust Company, Chicago’s largest African- American owned bank, commemorated its 50th anniversary on Friday, welcoming longtime and current customers, city officials and supporters to its headquarters at 645 East 87th Street.

Veranda L. Dickens, chair of the board, thanked the customers, many whom have been with the bank since its early days and were present for the celebration.

"This obviously would not be possible if it were not for you – the customers," said Mrs. Dickens, who was elected chair following the death of her husband, Jacoby Dickens, in 2013.

Seaway Bank and Trust Company serves families, nonprofits and businesses in diverse neighborhoods. It was established in 1965 to counter discriminatory lending practices and today has more than $500 million in assets and 250 employees.

The bank originally opened at 8555 South Cottage Grove in 1965, operating there until its headquarters was completed at the current site on East 87
th Street.

On Friday, those attending the commemoration were given anniversary T-shirts and other special treats. The bank also announced the start of an anniversary raffle for $500 to be held each month.

While much of the celebration reflected on the institution’s rich history, Mrs. Dickens and other leaders stressed the importance of the bank’s strong and bright future.

"It’s not so much about the last 50 years. It’s about the next 50 years," Mrs. Dickens said.

"The number of minority-owned banks in this country is dwindling, but I can assure that that is not going to happen to Seaway Bank.

"Seaway Bank will be here another 50 years and beyond."

Mrs. Dickens said Seaway was experiencing solid support from around the state of Illinois and throughout the city.

One of those supporters, Alderman Roderick Sawyer, was on hand to affirm his support for the historic financial institution.

As a child, Sawyer said he grew up in Chicago watching Black men and women do great things in the community.

"This is a Black-owned bank. We need to support our Black-owned and women-owned institutions, so that we maintain what we have and expand it," Sawyer said.

With the expansion of Seaway, Sawyer said he hopes to see more access to capital for emerging community businesses. But in order for those things to happen, "we must support it," he said.

Darrell B. Jackson, President & CEO, said Seaway will be launching new products and services in the coming months to service its current group of aging customers and expand its base.

"We’ll be offering more products for those who are in retirement, and we will also be enhancing access through technology," Jackson said.

"I am so honored to be here to help us go forward into the next 50 years," he said. "I look forward to you all continuing to go with us on the journey," he said. "We don’t forget about you who brought us to where we are today."

Nona McCall was among the many customers assembled for the commemoration on Friday. She and her husband became Seaway customers in 1965.

"I appreciate being among the first," McCall said. "I’ve been a customer all these years, and I am happy to be here."


For additional information about Seaway Bank and Trust Company, please review our website at www.seawaybank.us.



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