Business
Profile: Emma Chappell – Founder of the United Bank of Philadelphia
Emma Chappell is the Founder of United Bank of Philadelphia where she served as Chairman of the Board, President and Chief Executive Officer (CEO) from its inception in March 1992 until June 2000.
Chappell, is the first African-American woman in the United States to start a commercial bank from scratch. She personally raised over US$6 million in capital, selling stock at US$10 a share, subsequently raising an additional US$8 million for a total of US$14 million in capital.
Under her leadership, the United Bank of Philadelphia grew, in eight years, from a dream to assets of more than US$140 million with eight (8) branches, 24 automated teller machines (ATM’s) and one hundred employees.
Because of this unprecedented growth, the United Bank of Philadelphia, received the coveted Blue Chip Enterprises Award in 1999, sponsored by Mass Mutual and the US Chamber of Commerce.
The United Bank of Philadelphia, is a minority owned and controlled full service commercial bank dedicated to fostering community development by offering financial services to traditionally under-served neighborhoods, with a special sensitivity to African Americans, Hispanics, Asians and women. It is a Community Development Financial Institution (CDFI).
As a result of the formation and functioning of the United Bank of Philadelphia, Chappell formed another unparalleled institution in 1997, Philadelphia United Community Development Corporation (PUCDC) — a nonprofit corporation providing financial education and training in the community with US$1 Million in start up capital.
