Columbia Savings & Loan Association

What Columbia Savings & Loan Association does

Columbia Savings & Loan Association is a privately held, Wisconsin-chartered savings and loan association headquartered in a single location at 2020 W. Fond du Lac Avenue in Milwaukee's Amani neighborhood. Founded on September 24, 1924 by Ardie and Wilbur Halyard, it operates as the only Black-owned bank in Wisconsin and the sixth-oldest in the United States, serving primarily low-to-moderate-income and African American families in Milwaukee's inner city who have historically faced limited access to mainstream capital.

The institution's core product set is centered on residential mortgage lending, augmented by commercial real estate loans, dedicated church lending, and a deposit franchise comprising savings accounts, Certificates of Deposit, and Individual Retirement Accounts. All deposits are FDIC-insured, and the institution holds a Community Development Financial Institution designation. According to disclosed metrics, the residential mortgage portfolio stands at nearly $20 million, and recent initiatives include the '100 by the 100th' campaign (raising over $6 million against a $10 million goal to fund 100 African American families' home purchases) and the Centennial Fund, which has mobilized more than $50,000 in corporate contributions and over $2 million in new deposits. Underwriting and account servicing are delivered through a traditional branch-based model with in-person consultations and supplementary free homebuyer education seminars.

Revenue is generated almost entirely through net interest income on the loan and securities portfolios funded by deposits, with no disclosed fee schedule, pricing tiers, or non-bank revenue lines. The bank does not have a mobile app, published API, or disclosed proprietary technology platform, and operations remain anchored to its single Milwaukee headquarters under CEO Ernest Jones and Vice President Wesley McKenzie. Channel mix is heavily referral- and relationship-driven, leveraging earned media coverage, social media, community partnerships, and educational events rather than digital acquisition.

Name

Columbia Savings & Loan Association

Legal name

Columbia Savings & Loan Association

Website

https://columbiasavingsandloans.com

Company type

Private

Founded year

1924

Operating status

Operating

Headcount range

11–50 employees

Short description

Columbia Savings & Loan Association is a Milwaukee-based, Black-owned savings and loan founded in 1924 that provides residential mortgages, commercial real estate and church loans, and FDIC-insured deposit products to low-to-moderate-income families and small businesses in Wisconsin's inner city.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180), Depository Credit Intermediation (5221)

SIC

Savings Institution, Federally Chartered (6035), Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Mutual Savings Banks & Mutual Thrifts (FSABAEAD)

Keywords

• Community banking services
• Residential mortgage lending
• Commercial real estate loans
• Savings and deposit products
• Minority-focused financial services

Headquarters

HQ city

Milwaukee

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Residential Mortgage Lending: Provides mortgage financing for homebuyers with personalized service and competitive rates. The bank emphasizes offering financing at favorable rates with transparency on monthly payment components including principal, interest, taxes, and insurance.
2. Commercial Real Estate Lending: Offers commercial property financing including church loans and business real estate solutions. Tailored financial solutions for retail spaces, office complexes, and other commercial properties.
3. Deposit Products: Accepts deposits through savings accounts, Certificates of Deposit (CDs), and Individual Retirement Accounts (IRAs). Products are FDIC insured and designed for various financial goals including retirement planning.
4. Church Loans: Specialized lending for not-for-profit community religious institutions, supporting local churches and religious communities with their financing needs.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Columbia Savings & Loan Association is a century-old community savings and loan association providing residential mortgage lending, commercial real estate loans (including specialized church loans), and FDIC-insured deposit products such as savings accounts, Certificates of Deposit (CDs), and Individual Retirement Accounts (IRAs). The bank primarily serves low-to-moderate income families, small businesses, and religious institutions in the Milwaukee area, with an emphasis on minority-focused financial services and homeownership support.

Product overview

Columbia Savings & Loan Association is a century-old community bank offering a unified suite of financial products centered on mortgage lending and deposit services. The core portfolio includes Residential Mortgages for homebuyers, Commercial Real Estate Loans and Church Loans for business and religious clients, and a range of Savings products including Certificate of Deposit (CD) accounts and Individual Retirement Account (IRA) options. The bank supplements its lending services with free Home Buyer Seminars to educate prospective homeowners. All products serve the bank's mission of community empowerment and financial inclusion for low-to-moderate income families in Milwaukee.

Differentiator

Problem solved

Functional benefit

Products and services

• Residential Mortgages Comprehensive mortgage financing for first-time buyers and those upgrading residences, with personalized service, competitive rates, and transparent discussion of monthly payment components (principal, interest, taxes, and insurance). Targeted at homebuyers in Milwaukee, with a particular focus on low-to-moderate income and African American families.
• Commercial Real Estate Loans Tailored financing solutions for businesses seeking to acquire commercial properties, including retail spaces and office complexes, with competitive rates and a seamless financing experience for small business owners and entrepreneurs in the Milwaukee area.
• Church Loans Specialized financing for congregations and religious communities, recognizing the distinctive circumstances and specific needs of churches. Supports not-for-profit community initiatives and serves local religious institutions facing barriers in traditional commercial lending markets.
• Certificate of Deposit (CD) FDIC-insured savings instrument requiring commitment to monthly contributions over a fixed term, offering low-risk interest-accruing returns that enhance value upon maturity. Designed for savers seeking secure, higher-yield options.
• Individual Retirement Account (IRA) Tax-free or tax-deferred retirement savings available in Roth IRA and Traditional IRA variants, with set monthly contributions and funds maturing until retirement or a specified withdrawal date. Targeted at individuals planning for long-term financial goals.
• Savings Accounts Diverse range of FDIC-insured savings accounts crafted to suit different financial goals, from high-yield savings to specialized retirement savings options, with competitive interest rates and flexible terms for individuals and families.

Quantifiable outcome

• Nearly $20 million in residential mortgages provided to the community
• +1 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Port Washington State BankminorStrategic or Co-development Partner · 25 June 2023Co-hosted a FREE Homebuyer Seminar with Columbia Savings & Loan on June 30, 2023. Port Washington State Bank Vice President Linda Chay served as co-presenter alongside Columbia Loan Officer Ngozie Omegbu, demonstrating collaborative educational outreach.

Scale indicators8 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Hope Credit Union: CDFI-certified credit union serving underserved communities across the Deep South. Comparable on mission, CDFI designation, deposit-funded lending to LMI borrowers, and community development focus.
• Self-Help Federal Credit Union: CDFI-certified credit union headquartered in Durham, NC, with deep focus on serving low-wealth and minority communities. Comparable to Columbia on community development mission, CDFI funding access, residential lending to underserved borrowers, and deposit-driven funding model.
• Carver Federal Savings Bank: Black-owned federally chartered savings bank in New York City, founded 1948. Directly comparable as a minority-focused thrift serving an urban underserved community with residential and commercial lending, FDIC-insured deposits, and a similar mission-driven operating model.
• Broadway Federal Bank: Black-owned federally chartered savings bank (thrift) in Los Angeles, founded 1946. Closely comparable to Columbia as a historic minority-owned thrift serving an urban underserved community with residential mortgage and deposit products.
• OneUnited Bank: Largest Black-owned bank in the United States, headquartered in Boston with branches in LA and Miami. Most direct comparable peer to Columbia given shared mission, Black-owned community bank positioning, residential and commercial lending focus, and CDFI-style community development activity.
• Industrial Bank: Black-owned community bank in Washington, D.C., founded 1914. Operates as a minority-focused urban community bank with residential, commercial, and small business lending — a strong comparable on size, mission, and product set to Columbia.
• First Independence Bank: Black-owned community bank headquartered in Detroit, Michigan. Operates as a minority-focused urban community bank with mortgage, consumer, and small business lending — a strong mission and operating model comparable to Columbia.
• Citizens Trust Bank: Black-owned community bank in Atlanta, Georgia, with over 100 years of history. Directly comparable as a historic minority-focused bank serving an urban African American community with residential mortgage and deposit products.
• Liberty Bank & Trust: Black-owned community bank headquartered in New Orleans with branches across the South. Operates as a minority-focused urban community bank serving underserved markets, with comparable mission and product set to Columbia.
• Mechanics & Farmers Bank: Black-owned community bank headquartered in Durham, North Carolina, founded 1908. One of the oldest continuously operating Black-owned banks in the U.S., serving an urban underserved market with mortgage and small business lending — directly comparable to Columbia's structure and mission.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/sharer/sharer.php?u=https://columbiasavingsandloans.com/mortgages
• LinkedInlinkedin.com/company/columbia-savings-and-loan-association-milwaukee-wi-

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Columbia Savings & Loan Association