FINANCIAL LITERACY
graphs, and footnotes, ensures that even readers unfamiliar with financial jargon will walk away informed and empowered. The combination of Rosen- thal’s historical perspective and McCray’s grassroots activism makes for a balanced and thoroughly convincing argument for the importance of credit unions in the fight for racial equity. For members of Kappa Alpha Psi and the broader black community, this book serves as both a tribute and a call to action. It reminds us that the fight for financial justice is far from over, and the institu- tions we build today will determine the future of our communities. The book is a beacon of hope and a powerful indictment of the systems that have long oppressed black financial institutions. Through the eyes of two passionate and experienced advocates, Rosenthal and McCray, readers are invited to engage with the credit union move- ment on a deeper level and consider their role in advancing racial equity
through financial inclu- sion. Whether you’re a member of Kappa Alpha Psi, a financial professional, or a community leader, this book will leave you inspired and ready to take action. By highlighting both the systemic challenges and the opportunities for change, Community Capital is a must-read for anyone invested in creating a more just and equitable financial future. As to where publishing this book ranks in achieve- ment, McCray said, “For me, pledging Kappa Alpha Psi at Alpha Xi (FAMU) in Spring 1987 was one of the best things that ever happened to me. It paved the way to becoming Jr. Vice Polemarch for the Southern Province (Flor- ida) in 1989 and that lead me to helping organize KAPFCU, which we were positioning to become the economic development engine for the Fraternity. However, writing the book is a significant milestone in my career because it makes me a best-selling author. ♦
highlights the surreal absurdities of the financial system’s treatment of minority-led institutions. His experiences serve as a wake-up call to the ongoing challenges faced by Black- owned credit unions and financial organizations. A PATH FORWARD The third section of the book offers hope. McCray and Rosenthal emphasize how black churches, com- munity organizations, and civic institutions can help their communities navi- gate the complexities of the financial world. These institutions, they argue, are essential in creating sustainable access to capital for under-served popula- tions. The book does not merely recount a problem but outlines actionable
solutions for equity in the financial sector. For those interested in grassroots activism, this section provides a road map for creating financial systems that work for all. In a bold move, the book’s final section includes original documentation from McCray’s battle against the NCUA, offering readers firsthand insight into the legal battles and regulatory hurdles faced by Black-owned institutions. A MUST-READ FOR ADVOCATES Community Capital is not just a book for financial insiders—it’s for anyone who cares about social jus- tice, equity, and economic empowerment. The acces- sible writing style, coupled with well-placed charts,
Community Capital is available as an audiobook, eBook, paperback, and hardcover via Amazon.com, Barnes & Noble, and everywhere books are sold.
SUMMER 2024 ♦ THE JOURNAL 17
Made with FlippingBook - Online magazine maker