In an effort to promote American values and oppose cancel culture in the financial system, country music star John Rich teamed with conservative commentator Larry Elder and retired neurosurgeon Dr. Ben Carson to purchase First State Bank of Elmore City, Oklahoma's first bank.
Their acquisition of the financial institution, which will be renamed Old Glory Bank, was confirmed in a recent media release.
"It's been dismaying to see the political weaponization of the financial system," Rich commented. "Old Glory Bank was created to be the full banking solution for folks who still believe in freedom and the greatness of America."
Old Glory Bank is touted as the first chartered bank to "openly support America, its flag, freedom, patriotism, the military and first responders." The mission is to "never cancel law-abiding customers for their beliefs or for exercising their lawful rights of free speech."
Customers have the option to participate in the bank's "round-up program" which allows them to round up to the nearest dollar for every transaction and donate funds to charity, including Oklahoma's Folds of Honor — a nonprofit that provides academic scholarships to the spouses and children of America's fallen or disabled military.
Old Glory Bank promises to openly support first responders and the military while also offering no-fee accounts, free overdraft protection, free ATMs, and early direct-deposit access.
"With the aid of cutting-edge digital technology, we will 'export' this bank's hometown values across the country," said Bennett Brown, Old Glory Bank's senior regulatory officer.
Carson said Old Glory Bank will serve lower- and middle-income Americans and "those Americans that other banks have marginalized and ignored, hard-working patriots who keep this country running every day."
Added Elder: "We value the values of America and believe in the principles that forged this country, such as liberty, privacy, security, community, family, and faith."
Zoe Papadakis ✉
Zoe Papadakis is a Newsmax writer based in South Africa with two decades of experience specializing in media and entertainment. She has been in the news industry as a reporter, writer and editor for newspapers, magazine and websites.
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