First Women’s Bank (in organization), an innovative commercial bank with a strategic focus on the women’s economy, announced Billie Jean King has committed to invest in First Women’s Bank and will serve as the Bank’s strategic advisor on gender equality.
“A critical step toward achieving gender equality is creating economic parity and financial inclusion, which requires closing the racial and gender gaps in access to capital,” said King. “I look forward to joining First Women’s Bank as we work to bridge those gaps and empower women from all walks of life to reach their full potential.”
When it launches, First Women’s Bank will be the only bank in the country to be women-owned, women-led and focused on the large and powerful women’s economy. Women-owned businesses have been growing two times faster than the national average, yet they received just 16% of all conventional business loans. First Women’s bank is forming to close that gap.
“We are thrilled and honored to welcome Billie Jean to First Women’s Bank. She is a legendary sports icon, an accomplished business woman and a devoted advocate for equality,” said Marianne Markowitz, President & CEO, First Women’s Bank. “Billie Jean’s support both as an investor and advisor will help us fulfill our mission to grow the economy and advance the role of women within it.”
First Women’s Bank received conditional approval from the FDIC in July 2020. The Bank is expected to launch this summer.