A Splendid Showing

A recent report of a loan company in Richmond shows that it has not discriminated by race when granting loans, known as redlining.

The annual report of the Fidelity Building, Loan and Investment Association was published in a recent number of The Colored American, and the very excellent showing made by The Fidelity has evoked many favorable comments. In fact the report os a compliment to the management of the company. In these hard times people are careful to invest money in solvent companies, and they are always glad to see a good showing made from the companies in which they are interested. The Fidelity, in keeping with its stern business policy, makes a statement once a year, and has thoroughly educated its forty thousand or more members to scan carefully the facts and figures given. The annual report, dated Dec. 31, 1893, shows that the loans of the investment plan were $62,575.17; the amount returned to members $37,771.37, and on the monthly Building and Loan Association, loans $98,759.68; returned to members $81,019.08, making a total amount of cash received by members, $280,116.64. These figures tell plainer than words what The Fidelity was doing last year they also establish faith in the management and confidence in the ability of the company to pay dollar to every member with an additional 6 per cent. Why shouldn't The Fidelity made a good showing? It is one of the soundest, largest and best companies of the kind in the United States, and is conducted on business principle that are in themselves a guarantee of success. We are inclined to be partial to The Fidelity because of its fair and square dealing. It is a great institution. It treats all of its members alike. It does not raw the color line and discriminates against its colored policyholders as is the case with so many of the big companies. The weekly plan of The Fidelity is another commendable feature; it is an innovation in many respects. The weekly plan gives the poor man an opportunity to invest his money with an equal advantage with the rich man. It enables him to pay by the week or month, and the system of collecting and keeping track of the members and policyholders and the general business is the perfection of the insurance art. The issuing of regular monthly and weekly investment stock is the pride of the company because of its popularity and general acceptance by the people.

“A Splendid Showing,” Black Virginia: The Richmond Planet, 1894-1909, accessed December 7, 2025, https://blackvirginia.richmond.edu/items/show/1581.