Milwaukee County invests $250K in Wisconsin's 1st Black-owned bank

MILWAUKEE (CBS 58) -- A historic moment Friday morning as Milwaukee County invests $250,000 in Columbia Savings and Loan. 

It's the start of a partnership between the county and the state's first and only Black-owned bank. 

The partnership comes after a recent resolution passed by the board of supervisors, which focuses on promoting racial equity and affordable housing in Milwaukee County. 

"We want to make home ownership a reality for everyone, regardless of their background, regardless of their race. So, this is a step in the right direction," said Marcelia Nicholson, Milwaukee County Board chairwoman. 

The bank is hoping to secure $10 million to facilitate homeownership for 100 families by the end of this year.