Alabama Penny Savings Bank – Celebrating Black Business Month in Alabama

The Alabama Penny Savings Bank in Birmingham was founded in 1890 by B.H. Hudson, a successful grocer, and W.R. Pettiford, a Baptist minister, who was also the bank president. He established 3 branch banks in Montgomery, Selma, and Anniston. By 1907, Alabama Penny had 10,000 depositors and more than 1,000 of them had purchased and owned homes. We salute Alabama’s Black banks and credit unions:

  • Alamerica Bank (Birmingham)
  • Citizens Trust Bank (Birmingham)
  • Commonwealth National Bank (Mobile)
  • Liberty Bank (Montgomery)
  • Sixth Avenue Baptist Federal Credit Union (Birmingham)
  • Hope Credit Union (Birmingham)

About the Alabama State Black Chamber of Commerce (ASBCC) Network

The Alabama State Black Chamber of Commerce Network consists of the ASBCC, Birmingham Metro Black Chamber of Commerce, Mobile Area Black Chamber of Commerce, North Alabama African American Chamber of Commerce, Northeast Alabama Black Chamber of Commerce, River Region Black Chamber of Commerce, and the Tuscaloosa Black Chamber of Commerce. For information about and membership with the ASBCC visit

About the Author

Mike Sparks