Mutual Aid Societies and Banks - 15th and 16th and Lombard

Our next stop combines three Black-owned banks and mutual aid societies: the Keystone Aid Society, the Reliable Mutual Aid Society, and the People’s Savings Bank. Keystone and Reliable followed in the footsteps of other mutual aid societies, like the Free African Society, founded in Philadelphia in 1787, which was one of the first in the country. Keystone was founded by John Asbury in 1902 and served as an industrial insurance company for black workers. Asbury was an influential member of the community who also served as City Solicitor during his time in Philly. He even used his wealth to help re-inter displaced remains of Black Residents at Lebanon Cemetery. This was a segregated cemetery built in what is now South Philadelphia. As the city expanded, the remains were threatened, but Asbury’s work helped to protect the remains by moving them to another cemetery further outside of the city. Mutual aid societies are representative of many of the social ties that were present in the Black community, as described in “The Philadelphia Negro,” with Du Bois writing:

“[This account] shows, however, how intimately bound together the Negroes of Philadelphia are. These associations are largely experiments, and as such, are continually reaching out to new fields. The latest ventures are towards labor unions, co-operative stores, and newspapers. There are the following labor unions, among others: The Caterers’ Club, the Private Waiters’ Association, the Coachmen’s Association, the Hotel Brotherhood (of waiters), the Cigarmakers’ Union (white and colored), the Hod-Carriers’ Union, the Barbers’ Union, etc.”

Even though, as described at the last stop, Black workers were excluded from white unions and associations, they created many of their own in the major work that they had. Keystone, as an industrial insurance company served this same population of Black workers. Du Bois speaks more specifically about aid societies, stating that:

“There is arising also a considerable number of insurance societies, differing from the beneficial in being conducted by directors. The best of these are the Crucifixion connected with the Church of the Crucifixion, and the Avery, connected with Wesley A.M.E.Z. Church; both have a large membership and are well conducted. Nearly every church is beginning to organize one or more such societies…Some of these are honest efforts and some are swindling imitations of the pernicious white petty insurance societies.”