With America going to hell in a hand basket, 60 year old Broadway Federal in Los Angeles is still going strong with smart banking. The bank was founded in 1946 by a group of civic-minded men and women for loans to minority consumers who were ignored by financial institutions.
Close to 85 percent of Broadway's loans are on properties in South Los Angeles. Broadway manages more than 13,000 accounts with less than 100 employees and has total assets that exceed $356 million.
The bank's chief operators are three generations of the community minded Hudson family. Dr. H. Claude Hudson, an investor, dentist and community leader was the bank's first leader in 1949. Later the bank was run by Elbert T. Hudson and Paul C. Hudson.
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