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The Power of Prayer
These days, getting money and housing together is a tricky issue. So there was good news from Florida, one of the hardest hit real-estate markets, when the Miami-area chapter of the Collective Banking Group (CBG) renewed its partnership with, and received commitments from, six major banks in the region. The Collective Banking Group is a national organization of African-American churches that agrees to conduct its business with partnering banks and encourages parishioners to do the same.
The CBG was formed in 1993 by Reverend Jonathan Weaver (MBA ’75), a pastor in Bowie, Maryland. “It’s quite a reversal from twenty years ago,” Weaver noted. “Collectively, churches have shown the banking community just how much economic power they wield” (Miami Herald.com, March 20, 2009).
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