Emma C. Chappell

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Emma C. Chappell
Born
Emma Carolyn Bayton

February 18, 1941
Philadelphia, Pennsylvania
EducationWest Philadelphia High School
Alma materTemple University
Known forBanking and Community Service
Children2

Emma C. Chappell (born Emma Carolyn Bayton; February 18, 1941 – March 16, 2021) was the founder and CEO of the United Bank of Philadelphia.[1] She was the first African-American woman to form a commercial bank in the United States.[2] She was also the first female vice president of a major bank in the state of Pennsylvania.[3]

Early life

Emma Carolyn Bayton was born in

Leon H. Sullivan, a leader in the Philadelphia civil rights movement, noticed her superior mathematical skills after giving her an aptitude test.[4] With his help, she became a clerk-photographer at Continental Bank
in 1959, where she made photostats of deposited checks for bank records.

Career

The bank required that Chappell get a college degree before she could be promoted, so she attended class at

Model Cities Business and Commercial Project, now called the Philadelphia Commercial Development Project, which revitalized commerce in the inner city. Chappell returned to school in 1982 and earned her master's degree from the ABA Stonier Graduate School of Banking at Rutgers University.[3]

She took a leave of absence from the bank in 1984 to serve as national treasurer for Jesse Jackson's presidential campaign.[6]

In 1987, a group of prominent black Philadelphians approached Chappell with the possibility of starting a black-controlled bank, and they deemed her the potential leader. They contributed $600,000, but she was stalled by the stock market crash of October 1987.

Mass Mutual and the United States Chamber of Commerce.[3] Chappell, who was president, CEO, and chairman of the board, left in 2000, but the United Bank of Philadelphia remains a force in the black community. The bank celebrated their 25th anniversary in 2017.[7]

She was one of the founders of the Delaware Valley Mortgage Plan, which was designed to help low to moderate income families buy homes.

She was the chairperson and an instrumental element in the founding of Operation PUSH, a nonprofit organization that strives to achieve financial equality for minorities.[6] She was also a founding vice president of the National Rainbow Coalition.[5]

She was appointed by President Clinton to serve as a member of the board of directors of the Southern African Enterprise Development Fund and the board of trustees of the Malcolm Baldrige National Quality Award.

Chappell also spearheaded a program "Passport 2000" to introduce 2000 students to savings and money management as the key to economic independence.[8]

Death

Emma C. Chappell died on March 16, 2021, at the age of eighty. In announcing her death, the Black Women's Leadership Council stated that Chappell "served on numerous political, civic, and non-profit campaigns to support women, minorities, and the community, and championed community banking as a means to change the trajectory for people of color by establishing the pathway for businesses owned and operated by people of color to achieve their hopes and dreams....Emma will always be remembered for her leadership, advocacy, and business acumen giving voice to social justice, racial and gender equality, and creating change. She never shrunk from a worthy battle as she continued to work using the radio airwaves, leadership as co-convener for the Women’s Leadership Council along with other civic organizations to exemplify her strong Christian faith and commitment to service."[9]

Legacy

Chappell is known for her strong leadership and advocacy in business, civil rights, and politics.[8] She is also known for her support of children, minorities and women.[8] She infamously believed in the critical importance of community banks and helping residents to achieve their hopes and dreams. Her work as a banker and community leader has granted her more than 500 awards, numerous national and international appointments, and five honorary doctoral degrees.[5] Despite her success and many accolades, in 1998 Chappell said:

"I'm very proud of my accomplishments. It doesn't matter how many awards I've received, there's a saying: `A prophet is without honor.'"

Personal life

Emma married Verdayne Chappell May 7, 1960, but they later divorced. They had two children: Tracey and Verdaynea.[4] Emma had 2 grandchildren, Troy and Verdaynea Alexis of which she was very proud.

She has expressed that her religion is Baptist.[4]

Chappell is an honorary member of Alpha Kappa Alpha.[2] and has multiple honorary doctorates.

References

  1. ^ "Emma Chappell". The History Makers.
  2. ^ a b "Honorary Members". Alpha Kappa Alpha. 2006. Archived from the original on 2007-09-28. Retrieved 2019-04-24.
  3. ^ a b c d e f "Emma Chappell's Biography". The HistoryMakers. Retrieved 2019-04-25.
  4. ^ a b c d e "Chappell, Emma C. 1941– | Encyclopedia.com". www.encyclopedia.com. Retrieved 2019-04-25.
  5. ^ a b c d Ltd, Earl G. Graves (June 1995). Black Enterprise. Earl G. Graves, Ltd.
  6. ^ a b c d blackentrepreneurprofile.com. "Emma C. Chappell". Black Entrepreneurs & Executives Profiles. Retrieved 2019-04-25.
  7. ^ Jones, Ayana (2017-10-25). "United Bank marks 25th anniversary". The Philadelphia Tribune. Retrieved 2019-04-25.
  8. ^ a b c Brooke, Bob (1998-12-07). "Emma Chappell founded a bank of her own". www.bizjournals.com. Retrieved 2019-04-25.
  9. ^ Flanagan, Sharyn L. (2021-03-17), "Emma C. Chappell, Founder of United Bank of Philadelphia, Dies at 80. The Philadelphia Tribune, found online at https://www.phillytrib.com/obituaries/emma-chappell-founder-of-united-bank-of-philadelphia-dies-at-80/article_7a923fb8-1c5c-5f51-b29e-07e9f9b32dda.html Retrieved 2021-03-17
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