Meet Tamika Stafford, Minority Small Business Expert at US Bank

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Tamika Stafford knows firsthand how confusing finance can be. For example, when she bought her first home, she didn’t understand the nature of her mortgage or the nuances of her payments. Years later, when she became a banker, Stafford found that she enjoyed helping clients navigate the sometimes complex world of money management.

Late last year, Stafford assumed a new banking role that allows her to focus fully on educating business owners and connecting them with resources to help them achieve their financial goals. Her role is unique in that she focuses on building wealth specifically among minority communities in the Charlotte area.

Stafford is one of nine Business Access Advisors hired nationwide as part of the US Bank Access Commitment™, US Bank’s long-term approach aimed at helping communities of color build wealth. As a Business Access Advisor, Stafford serves as the trusted advisor to create networking and business development opportunities for black business owners in the Charlotte area. Additional Business Access Advisors are located in Chicago, Colorado Springs, Denver, Little Rock, Los Angeles, Omaha, Oakland and the Twin Cities.

The US Bank is initially focusing on black communities, as data shows that racial wealth gaps are widest there. According to a 2019 Federal Reserve survey, white families are on average eight times wealthier than their black counterparts. The bank plans to expand the program to other underserved communities in the future.

“Black people had a hard time accessing capital, and the Bank acknowledges that there were barriers for black people,” says Stafford. “We want to be part of the solution to close this gap.”



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