Texas Southern's new banking program graduates set out to help diversify the competitive industry
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Posted By: S. Moore on May 12, 2023 As a child, Kameron Pree was fascinated by banking, even if he didn't realize it at the time. He just knew he wanted to save enough money for field trips and other activities. "I would always have my mom and my dad save the coins I might find walking, or the little allowance they might have given me over the week," said Pree, who grew up in Clear Lake. "But I never really thought about banking." That changed after Pree enrolled at Texas Southern University in Houston, where he served as president of the banking club and will receive a degree next week in accounting. He has a job lined up as a credit analyst at Stellar Bank in Houston, and acknowledges that the city needs more financial services for minorities. "There could definitely be better banking in Houston," said Pree, who is Black, noting that access to banking can be a problem for minority-owned businesses. "Just from my own experience, I've been to so many businesses where they're not banked at all — where you go up to the window and they tell you they only take cash." Pree will be among the first TSU graduates to pass through its Future Bankers Leadership Program, launched in 2021, backed by a $1 million investment from JPMorgan Chase and bolstered by partnerships with a number of regional banks as well as Baker Hughes and TSU's Jesse H. Jones School of Business Advisory Council. The program provides specialized banking courses and helps student connect with industry professionals as well as internship opportunities. It's part of a nationwide push to diversify America's banking pipeline, in part by building stronger relationships with historically black colleges and and universities, or HBCUs. "Banking is all about relationships, and people trust individuals that reflect their community," said Dorian Cockrell, vice president for global philanthropy at JPMorgan Chase. The company in 2020 announced a $30 billion commitment to racial equity after the death of George Floyd, and making banking more inclusive is part of that, Cockrell said. Chase, America’s largest bank, opened a community center in 2021 at a branch in the Fifth Ward, where the bank hopes to help more Black and Hispanic Houstonians open accounts, manage their money, start businesses and buy homes. CEO Jamie Dimon visited the center as it opened and stopped at Texas Southern University, where he announced a $1 million investment aimed at bolstering the recruitment pipeline Chase is building with historically Black colleges and universities. “HBCUs have been developing top talent for decades, and we’re excited Texas Southern is training future leaders for finance,” Dimon said. “Banks are most effective when we reflect the communities we serve. Fostering greater diversity will create more opportunity — for students and for local businesses alike.” Muriel Funches, executive director of advancement at TSU's Jesse H. Jones School of Business, said she works with many employers looking to hire full-time employees, as well as interns. "I always hear that they can’t find African-American talent," Funches said. "We have thousands of bright and talented students here at TSU. We need to put more diversity in the marketplace to meet the community’s needs." By one estimate, she added, nearly half of Houston's 90,000 Black-owned businesses are "unbanked" or "underbanked," meaning they lack access to some or all banking services, relying instead on cash transactions or services like Zelle. At TSU, the Future Bankers program is small, but growing, Funches said: 17 students are conditionally admitted to begin next year. "Money grows our community. Access to capital will grow our community," she said. "And then we’re all in a better place because we have grown." SOURCE Houston Chronicle.com If you enjoyed this article, Join HBCU CONNECT today for similar content and opportunities via email! |
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